Abdullah Al Saleh, undersecretary of the ministry of economy for foreign trade, citing a forecast by the UAE Central Bank, said UAE’s economy is expected to grow at nearly 4% in 2018 helped by more inflows of foreign direct investment (FDI), as well as …
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UPDATE 2-First Abu Dhabi Bank issues $610 mln Formosa bond
DUBAI, Jan 15 (Reuters) – First Abu Dhabi Bank, the largest bank in the United Arab Emirates, has issued a $610 million Formosa bond, it said on Monday, confirming an earlier Reuters report. Formosa bonds are sold in Taiwan by foreign borrowers and are …
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CBB approves Ithmaar’s Dubai listing
Ithmaar owns two wholly-owned subsidiaries: Ithmaar Bank, a Bahrain-based Islamic retail bank, and IB Capital, an investment subsidiary. Ithmaar Bank and IB Capital are both licenced and regulated by the CBB. Ithmaar Bank owns 66.6 per cent of Faysal Bank …
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Emaar says to distribute Dh4bn of dividends from real estate subsidiary IPO
“This was a successful IPO despite [challenging] economic conditions,” Mohamed Alabbar, chairman of the Dubai-based property developer Emaar Properties told a shareholders meeting on Sunday night. Mr Alabbar announced total dividends of Dh3,007,090,330 …
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Banking on China’s global ambitions
And we expect that it will grow over the years.” China has been the largest trading partner of the UAE for the past three years The bank also expects a rise in interest from Chinese-based companies, too, and is ready to serve them. “The large …
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Another price rise for Dubai gold, Dh150.25 for 22 k
Dubai gold prices are Dh160 for 24-karat and 22-karat can … in which it is priced. Meanwhile, hedge funds and money managers raised their net long positions in COMEX gold in the week to Jan. 2, US Commodity Futures Trading Commission (CFTC) data showed …
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2 Tech Entrepreneurs Found Guilty of Manipulating Shares in Startup
Prosecutors also claimed Amanat defrauded investors in a hedge fund, Maiden Capital LLC, that invested in KIT and Enable. The goal, to prop up Enable, didn’t work out. The Dubai-based fund collapsed, as did Maiden Capital. KIT filed for bankruptcy in 2013.
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UAE Ministry of Finance Clarifies Details Surrounding Designated Zones
The Ministry of Finance has clarified the details of Cabinet Decision No. (59) of 2017 on Designated Zones for the purposes of the Federal Decree-Law No. (8) of 2017 on Value Added Tax, explaining that Designated Zones are the areas that meet the …
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2018 will be the year oil markets become balanced, UAE oil minister says
Oil markets still have not completely balanced supply against demand yet but 2018 will be the year when they achieve this, United Arab Emirates’ (UAE) energy and industry minister said Thursday. Speaking to CNBC at the 9th Gulf Intelligence UAE Energy …
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REPORT: Hong Kong, London, and New York have been shortlisted for Saudi Aramco’s $2 trillion IPO
The shortlist means Tokyo, Singapore and Toronto are no longer in the running for what is likely to be the world’s biggest IPO. DUBAI/LONDON (Reuters) – Saudi Arabia has shortlisted New York, London and Hong Kong – singly or in a combination of two or even …
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Aramco securing cheap loans before IPO
DUBAI: Saudi Aramco is working to secure billions of dollars … Saudi Arabia’s push to ensure what could be the world’s biggest initial public offering (IPO) goes ahead in 2018, despite market speculation that sale plans might be delayed or even …
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Kuwait-backed Aston Martin said to eye $6.8bn IPO
Investors’ interest in an IPO this year could be bolstered by the planned expansion … 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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Saudi Aramco working to raise cheap loans before IPO – banking sources
DUBAI, Jan 10 (Reuters) – Saudi Aramco
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Dubai’s DFM reveals list of securities in short selling push
Dubai Financial Market (DFM) on Tuesday announced the list of securities eligible for trading as part of the regulated short selling (RSS) service. The service has recently been launched as part of its efforts to provide market participants with new tools …
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Dubai bank to launch first battery powered payment cards
Dubai’s biggest bank on Tuesday announced plans to introduce the first battery-powered, interactive payment cards to the UAE this year. Emirates NBD has teamed up with Dynamics Inc on Wallet Card, which is the world’s first connected, secure payment card …
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Effects of VAT on individuals minimal: Ministry of Finance
DUBAI: The Ministry of Finance stated that adopting value-added tax (VAT) in the UAE will have a positive effect on its development and competitiveness — and will contribute to building a sustainable knowledge-based economy for future generations …
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Non-Muslim expats: How to get a will for assets in the UAE
If you do not have a will, the UAE Law of Inheritance will be applied on your assets after your demise; and can even affect the guardianship of your children if they are in the minor age group. As a non-Muslim expat in the UAE, you may already have a will …
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