For Dubai-based Emaar Development, the leading regional developer, it is the public itself, says an expert. Emaar Development’s initial public offering (IPO) is set for November 22 on the Dubai Financial Market. Even with 20 per cent of the company being …
( read original story …)
Saudi billionaires said to move funds to escape asset freeze
Gulf investors sold a net $92.5 million of Dubai stocks on Tuesday … London-based co-chief investment officer of emerging-markets hedge fund Capricorn Fund Managers Ltd. The central bank “has strong systems in place to track flows and excellent …
( read original story …)
UAE asks banks for information on 19 Saudis’ accounts: sources
ABU DHABI/DUBAI (Reuters) – The United Arab Emirates central bank has asked banks and finance companies in the UAE to provide information on the accounts of 19 Saudi citizens, banking sources told Reuters on Thursday. Saudi authorities have previously …
( read original story …)
UAE asks banks for information on 19 Saudis’ accounts
ABU DHABI/DUBAI (Reuters) – The United Arab Emirates central bank and securities regulator have asked banks and finance companies in the UAE to provide information on the accounts of 19 Saudi citizens, banking sources told Reuters on Thursday. The 19 …
( read original story …)
Jailed Hedge Fund Head Is Star Witness in Amanat Fraud Trial
Disgraced hedge fund founder Steven Maiden will testify Tuesday … Their goal was to prop up the fund run by Amanat’s brother, Enable Invest Ltd. It didn’t work out. The Dubai-based fund collapsed, as did Maiden Capital. KIT Digital filed for …
( read original story …)
DEWA secures $650m for green projects
Dubai’s Electricity and Water Authority (DEWA … and that they were already in talks with a state-owned Chinese bank.” Lars Kroijer, a veteran hedge fund investor and CEO of AlliedCrowds said: “It sends a hugely positive message to institutional …
( read original story …)
Dubai Green Fund raised $650 million for investment in sustainability projects
The Dubai Green Fund constitutes the investment arm of DEWA and … that they were already in talks with a state-owned Chinese bank. Lars Kroijer, a veteran hedge fund investor and CEO of AlliedCrowds applauded the initiative by saying that it is a …
( read original story …)
DOJ Official Aided Ponzi Schemer in FBI’s Probe, Lawyer Says
Maiden’s decision to invest $1 million in KIT, a troubled video-software company, and another $2 million in Enable Invest Ltd., a fund run by Amanat’s brother in Dubai, would ultimately lead to the collapse of Maiden’s hedge fund, Maiden Capital LLC …
( read original story …)
Dubai gold price inches down, Dh144.50 for 22k
Dubai gold prices in Dubai are Dh153.75 for 24-karat and … fell 0.03 per cent to 845.75 tonnes on Friday. Hedge funds and money managers reduced their net long position in COMEX gold contracts for the seventh straight …
( read original story …)
All the Reasons Cryptocurrencies Will Never Replace Gold as Your Financial Hedge
As Russia, India, and Estonia are considering their own digital money, Dubai has already taken it one step further … One of the world’s most successful hedge fund managers, Ray Dalio of Bridgewater Associates, certainly seems to think so.
( read original story …)
Tech entrepreneur’s trial is biggest battle of a glossy career
Federal prosecutors claim Amanat conspired to manipulate KIT Digital’s shares while defrauding investors in a hedge fund, Maiden Capital. The goal, to prop up Enable Invest, didn’t work out. The Dubai-based fund collapsed, as did Maiden Capital.
( read original story …)
Price of Dubai gold drops, will the fall continue?
Dubai gold prices in Dubai are Dh154 for 24-karat and 22 … two policymakers said on Friday. Hedge funds and money managers cut their net long positions in COMEX gold contracts for the sixth straight week, in the week to Oct 24 …
( read original story …)
National Bonds challenges UAE’s ‘financial advice dilemma’ with new investment app
Dubai-based investment company National Bonds is moving into the financial advisory space with a new digital app offering low-cost investment options, its chief executive has revealed. The company plans to challenge poor advice, offered by UAE financial …
( read original story …)
UAE Ministry of Finance Announces Executive Regulation for Federal Decree-Law No. 8 of 2017 on Value Added Tax
The UAE Ministry of Finance has announced the Executive Regulation for the Federal Decree-Law No. (8) of 2017 on Value Added Tax at a Cabinet meeting on 7 November 2017, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime …
( read original story …)
Dubai bank Emirates NBD begins operations in India
Dubai’s biggest bank Emirates NBD has started operations in India with the opening of its first branch in the city of Mumbai. The Mumbai branch, located in Maker Maxity, Bandra Kurla Complex, marks the bank’s fifth international branch outside of its …
( read original story …)
Dubai’s biggest bank launches operations in India
Emirates NBD, Dubai’s biggest bank, on Tuesday said it has started operations in India with the inauguration of its first branch in the country’s commercial centre, Mumbai. The Mumbai branch marks the bank’s fifth international branch outside of its …
( read original story …)
Dubai Bank founder faces jail term in row with CBK
Mr Hassan Zubeidi, former chairman, Dubai Bank. PHOTO | FILE | NMG Former Dubai Bank chairman Hassan Zubeidi has been cited for contempt of court in a long-standing tussle with the Central Bank of Kenya (CBK) over his refusal to grant receiver managers …
( read original story …)