DUBAI (Reuters) – The United Arab Emirates’ military said on Tuesday it was buying laser guided bombs from U.S. missile maker Raytheon Co. (RTN.N) in a deal worth 2.5 billion dirhams ($684.4 million). The GBU-10 and GBU-12 Paveway laser guided bomb kits …
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New IPO just another part of Emaar’s success story
It’s almost exactly 20 years since chairman Mohamed Alabbar rolled out the first $3 billion Emaar Properties initial public offering (IPO), and I remember that landmark press conference very well. Something remarkable was clearly in the wind. The Dubai …
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UAE plot to wage financial war on Qatar revealed
A United Arab Emirates plan to attack Qatar’s financial system has been revealed in a folder of an email account belonging to the UAE ambassador to the US, Yousef al-Otaiba. The Intercept, a US-based investigative website, obtained the folder and exposed …
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Emaar’s IPO signals market optimism, says expert
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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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.
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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.
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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 …
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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 …
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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 …
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