Noted UAE-based businessman Dr Bavaguthu Raghuram Shetty has announced the creation of “Finablr”, a new holding company which, subject to regulatory approvals, will consolidate his global portfolio of financial services brands under one single umbrella.
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Major UAE Bank Implements Blockchain Tech To Prevent Check Fraud
The National Bank of Dubai (NBD), one of the largest banking groups in the Middle East by assets volume, has reportedly become the first bank in the region to successfully implement Blockchain technology in a check-issuance system to prevent fraud, local …
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Emirates Islamic Bank rewards saver with Tesla car
Dubai: A saver in the UAE now gets to drive around a new Tesla car, which he won in a raffle after opening a savings account with a local bank. Ahmad Hamad Al Suwaidi, a UAE national, is the first saver to win the five Tesla cars that Emirates Islamic Bank …
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Dubai to launch a digital bank for art that uses cryptocurrency
Because paying for a painting with cash or cheque is so passé. There’s now a new way for people to purchase artwork in Dubai – by using cryptocurrency. The Dubai Culture and Arts Authority (Dubai Culture) last week launched a new platform called …
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Q1 results point to strong start for UAE lenders
would have some impact on the profitability of UAE banks, early bank results indicate a strong outlook for the sector. Leading UAE banks that have reported that their first-quarter results show a steady improvement in interest margins, as well as a decline …
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Owner of Travelex, UAE Exchange prepares for potential London IPO
DUBAI, April 23 (Reuters) – Currency and money transfer firms Travelex and UAE Exchange are to come together under one holding company in preparation for a possible stock market listing in London, executives said on Monday. The holding company Finablr will …
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No rush to IPO, says Emaar Hospitality CEO
Emaar Hospitality Group is in no rush to list its business on the stock exchange, the company’s CEO Olivier Harnisch told a packed audience on the opening day of the Arabian Travel Market in Dubai. “Some of Emaar’s other units have gone on to IPO.
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Hedge-fund investors pour into oil as firms predict surge to $80
Hedge funds investing in oil are luring capital at the fastest pace … Subscribe to Arabian Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
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Dubai’s New Mortgage Law to Bring More Flexibility, Financing Options
Another target of the law would be create “alternative financing methods” over and above what is offered via direct bank finance. These proposals and the follow-through will be the responsibility of the Dubai Land Department. It follows a set of …
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UAE poised to benefit from China’s Belt & Road Initiative: HSBC
“It is fitting that a dialogue on the New Global Trade Order is happening here in the UAE, which is the gateway to growth in the Middle East and beyond and which World Bank data shows is a crucial meeting point for two-way trade worth $570 billion (Dh2 …
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Abraaj said to delay IPO of North African hospitals
The Dubai-based firm plans to sell the school stake back to CIRA … Abraaj hired Citigroup and EFG-Hermes Holding SAE to run the sale or IPO of its North African hospitals business, people familiar with the matter said in January. The business, which …
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UAE home to six of region’s top 10 valuable brands
It is a real testament to the region’s economic growth that we are seeing more world class brands emerging from the UAE,” said Andrew Campbell, Managing Director, Brand Finance Middle East. Dubai’s Emirates NBD still sits firmly as the UAE’s most …
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Dubai Investments distributes 12pc dividend
Dubai Investments, a leading, diversified investments conglomerate listed on the Dubai Financial Market, has decided to distribute 12 per cent cash dividend to its shareholders for the financial year ending December 31, 2017. A proposal to this effect was …
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One year on: Al Hilal Bank CEO Alex Coelho
The beauty of a bank of our size [1,500 staff, 100,000 customers, 25 UAE branches and three more in Kazakhstan] is that we don’t have a doubt on what we need to do. It’s just the pace of execution that’s important.” He lists his other key task as …
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Saudi reforms should bring flood of foreign funds next year
DUBAI (Reuters) – Saudi Arabia’s inclusion in global equity … This should help Riyadh rebuild its financial reserves and fund investment plans after the 2014 plunge in oil prices that cut export earnings and deprived the banking system of funds.
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Bank manager defrauds customer of Dh26m; jailed
Dubai: A bank branch manager has been jailed for five years and fined Dh26 million for embezzling an equivalent amount from a businessman using deceptive methods and forged documents over four years. The Emirati branch manager and his countryman …
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Dubai Islamic Q1 profit surges 16pc to $330m
Dubai Islamic Bank, the first Islamic bank in the world, has posted a net profit of Dh1.211 billion ($330 million) for the first quarter of 2018, up 16 per cent compared with Dh1.042 billion for the same period last year. Total income increased to Dh2.697 …
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