Union National Bank (UNB), 50 percent owned by the Abu Dhabi government, has begun operations at its branch in Shanghai, becoming the first bank from the UAE to operate a branch in mainland China, the bank said on Tuesday. The Shanghai presence will …
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Deposits in UAE Banks Surge to $120 Billion in H1
according to UAE Central Bank statistics. The term ‘Short Term Deposit’ refers to an amount of money placed in a bank or financial institution for a term no longer than one year. It will usually earn a fixed rate of interest. According to Central Bank data …
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UAE bank profitability slips slightly in second quarter, Alvarez & Marsal survey shows
UAE banks saw profitability decrease in the second quarter because of lower non-interest income but on the bright side net interest margins are increasing, according to the latest UAE Banking Pulse report from Alvarez & Marsal, the global professional …
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Make no mistake: Mobile is the future of banking
Instant. Accessible. Convenient. All words to define what mobile banking means today for customers in the UAE and Middle East, and across the world, and indeed what they now expect from banking services. We’re seeing banks today recoiling from large …
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Dubai’s Noor Bank Downsizes in Huge Restructuring: Sources
Noor Bank has allegedly made dozens of redundancies at its branches this week, with up to 200 redundancies in total planned, according to media reports. Noor Bank has issued a statement saying that these redundancies are part of its restructuring programme …
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UAE banks blank cheque abuse continues to shock the international banking community
Outmoded blank security cheque system wide open to abuse, claim critics UAE banks still demand blank cheques as security for credit. They can quite legally fill out the amount themselves and cash the cheque whenever they see fit, regardless of whether …
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UAE FTA to open online VAT registration mid-September 2017
“The UAE has reached a very advanced stage regarding the legislative aspects of the tax system that is among the best in the world. Through Ministry of Finance, which is authorised to issue tax legislation and policies, the Tax Procedures Law was issued …
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Dubai’s Emaar posts first-half profits, announces new IPO
DUBAI, United Arab Emirates – Dubai developer Emaar Properties has posted 2.8 billion dirhams ($772 million) in net profits for the first half of 2017 and laid out plans to spin off its domestic real estate business. Emaar Properties, which trades on the …
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IPO Activity in GCC Slows Down in Q2 2017: Report
Further, IPO activity in the first half (H1 … In the UAE, Industrial & Commercial Bank of China Limited – Dubai Branch (“ICBC”) listed three bonds on Nasdaq Dubai, amounting to $400 million, $300 million and EUR500 million. In Saudi Arabia, Acwa …
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Dubai’s Emaar Properties posts 14 pct rise in second-quarter profit
DUBAI, Aug 14 (Reuters) – Dubai’s Emaar Properties , which is … The retail operation last week reported a 5 percent increase in second-quarter profit. The initial public offering (IPO) of up to 30 percent of the UAE development business is expected …
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IPO activity in GCC slows down in Q2
Further, IPO activity in the first half (H1 … In the UAE, Industrial & Commercial Bank of China Limited – Dubai Branch (“ICBC”) listed three bonds on Nasdaq Dubai, amounting to $400 million, $300 million and EUR500 million. In Saudi Arabia, Acwa …
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Energy hedge funds look to spreads, margins as long bets flail
Commodity hedge funds have dwindled in recent years as oil prices slumped … and Catherine Ngai in New York and Amanda Cooper in London; Editing by Lisa Shumaker) DUBAI (Reuters) – Four Arab countries that imposed sanctions on Qatar have told the United …
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UAE Ministry of Finance Organises the “Youth Council of the Ministry of Finance” Event
As part of its commitment to support young generations and empower their roles at work and in the community; and develop an environment to showcase their abilities, the Ministry of Finance (MoF) organised “Youth Council of the Ministry of Finance …
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Aster DM re-files IPO papers, cuts offer size
According to the new DRHP, available on the websites of the investment banks to the IPO, the firm is looking to raise around … across all the Gulf Cooperation Council states of United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, as …
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Financial Firm Holborn Assets Seeks Six New Recruits for “Opportunity of a Life Time”
DUBAI–(BUSINESS WIRE)– Holborn Assets, the international financial advice firm head quartered in Dubai, has announced today a brand new internship opportunity for six ambitious, driven students and graduates. Successful candidates will work closely with …
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Banking sans branches
Smartphones are now the gateway to your banking transactions, paving the way for more mobile apps and digital payment solutions to ease your lifestyle by reducing branch visits. This has indeed kept pressure high on the UAE banking sector to innovate and …
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Moody’s changes Qatar banks’ outlook to negative
Dubai: Credit rating agency Moody’s Investors Service has changed the outlook on Qatar’s banking system to negative from stable due to the weakening operating conditions and continued funding pressures facing Qatari banks. The rating agency’s new outlook …
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