He shared the statistics, mapping the contribution of key sectors – Islamic finance, manufacturing and trade – while chairing the second meeting of DIEDC’s Board of Directors in 2018. The contribution of the Islamic economy to Dubai’s GDP increased …
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Nigeria, UAE agreement on stolen assets takes off next month
UAE. The financial intelligence sharing by the two countries has uncovered some cases involving ex-Minister of Petroleum Resources Mrs Diezani Alison-Madueke and some of her business associates. The assets allegedly identified with Diezani are marked as J5 …
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Islamic Finance: US$400 million Sukuk by DAMAC Real Estate
The bell ceremony took place in the presence of Adil Taqi, Group Chief Financial Officer of DAMAC Properties, Hamed Ali, Chief Executive of Nasdaq Dubai, as well as senior representatives of DAMAC Properties Commenting on the announcement, Hussain Sajwani …
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Emirates NBD’s digital bank Liv. plans regional expansion
Dubai: Liv., the lifestyle digital bank by Emirates NBD targeted at millennials has completed its first year of operations acquiring 100,000 customers, becoming the fastest growing bank in the UAE. Leveraging on in its success in the UAE, the bank has …
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Dubai-based Bitcoin exchange suspends UAE dirhram withdrawals
BitOasis was founded by Jordanian entrepreneur Ola Dudin back in 2014 and currently operates in the UAE, Saudi Arabia and Kuwait. In January, 2018, the bank also suspended withdrawals to Emirates NBD, Noor Bank and Mashreq bank account holders. Subscribe …
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Video: Julius Baer, the Middle East, and banking for the world’s ultra-rich
Speaking to Arabian Business during a visit to the Julius Baer office in Dubai International Finance Centre, CEO Bernhard Hodler says the bank has long been committed to serving the needs of the Middle East’s – and in particularly the Gulf’s – UHNWIs.
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Dubai among global top 5 for economic performance
The monetary policy and the exchange rate regime adopted by the UAE Central Bank have been particularly effective in achieving economic stability and in enabling the local economy to keep pace with global economic changes. In its preparations for the …
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PNB tried cover up before Nirav Modi scam exploded: Transferred staff at Hong Kong, Dubai for revealing irregularities
New Delhi: Just months before the Nirav Modi scam tumbled out, Punjab National Bank (PNB) quietly recalled two employees, both internal auditors posted at the lender’s Hong Kong and Dubai branches after they exposed a deep rot within its banking system.
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Ajman Bank :’s board recommends capital raise
Dubai – Mubasher: Ajman Bank ’s board has proposed the increase of the bank’s capital in two phase. The first phase includes the increase of the paid-up capital within the AED 2.1 billion authorised capital, according to a bourse statement released on …
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Dubai’s Hopscotch secures investment to go global
We have since worked with brands big and small as well as playing a part in the UN Women’s Empowerment Taskforce in the UAE, and this is just the start of our plans for Hopscotch’s expansion and digitisation.” With the new research from Hopscotch and …
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Ajman Bank :’s profit surges 31% in Q1
Dubai – Mubasher: Ajman Bank has reported a 31% increase in net profit during the first quarter of 2018. The bank’s net profit registered AED 34.02 million ($9.26 million) in Q1-18 versus AED 26 million in the year-ago period, according to an official …
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Islamic Finance: Dubai a Rising Economic Power
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council has stated that Dubai’s rising global rankings in a range of economic indicators show that it is closing the gap with the world’s most …
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Expenses rising? Here’s how to avoid getting broke in UAE
Dubai: The high cost of living is always a personal finance issue for many people in many parts of the world. Households constantly worry about how they can keep a roof over their heads, put food on the table or send their children to school without …
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UAE’s Dana Gas agrees $700m sukuk restructuring deal
Dana Gas has reached agreement with creditors on restructuring $700m of sukuk, it said on Sunday, potentially ending a protracted legal battle that unsettled the global Islamic finance industry. The United Arab Emirates energy company said in June that it …
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U.S. and UAE sign pact to resolve airline competition claims
The voluntary agreement, which applies to Etihad and Emirates airline, is similar to a deal announced in January between the United States and Qatar in which Qatar agreed to release detailed financial information about state-owned Qatar Airways. The UAE’s …
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Dubai’s stock market sees 52% slump in Q1 net profit
Dubai Financial Market Company on Tuesday announced a net profit of AED48.9 million ($13.3 million) in the first quarter of 2018, a 52 percent decrease compared to the year-earlier period. The company’s total revenue also fell by 34 percent to AED99.1 …
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UK agency to provide $135m for Dubai World Trade Centre expansion
UK Export Finance (UKEF), the UK’s export credit agency, is to provide support of more than £100 million ($135.2 million) for the construction of the fourth phase of the Dubai World Trade Centre. Phase four will see the construction of an onsite hotel and …
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