The deal was signed by Khalid Bin Kalban, Managing Director & CEO of Dubai Investments and Chairman of DIRC, André Sayegh, Deputy Group CEO of FAB, and Colin Fraser, Head of Wholesale Banking at ADCB. Commenting on the transaction, André Sayegh said …
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FAB Wealth Sentiment Index down 1.3pc in July
he First Abu Dhabi Bank (FAB) Wealth Sentiment Index (WSI) for the UAE has decreased slightly from 1054.52 in June, to 1040.66 in July 2017, reflecting a 1.3 per cent change. The July score reflects a range of factors, including a fall in inflation …
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Dubai Investments unit signs $299m loan deal
Dubai Investments Real Estate Company (DIRC) has signed a Dh1.1 billion ($299.47 million) financing deal with First Abu Dhabi Bank (FAB) and Abu Dhabi Commercial Bank (ADCB) for its Mirdif Hills development in Dubai, UAE. DIRC is the real estate …
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Clyde & Co. bolsters construction practice with Dubai partner hire
Heywood will be based in the firm’s Dubai office, making him the sixth specialist construction … international arbitration, finance & banking, projects and construction, real estate, regulatory and investigations, and technology.
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Race on for Uae’s ‘Workplace of the Year’ Award
National Bank of Fujairah and Gulftainer, which is also competing for the Health & Safety Initiative of the Year award along with HLG Contracting, Dubai Islamic Bank and Khidmah. “Having a wellness initiative is one thing, however securing the support of …
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Mideast funds more positive on equities
Dubai: Middle East fund managers have become more positive … and an absence of additional negative political events. The region’s banking sector is the top pick for one manager, who cited improving margins and “optimisation of funding costs …
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Gulf Petrochem Group closes US$150 million financing deal
Mr. Salah Mohammed Amin, Executive Vice President, Corporate Banking, Emirates NBD also added, “The positive response for this facility confirms the interest in key sectors in the UAE and the trust endorsed to Gulf Petrochem Group’s strong financial …
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How this Dubai salesman defrauded bank of Dh180,000
Dubai: A salesman has been jailed for six months for defrauding a bank of Dh180,000 in personal loan and credit card using forged papers within two months. The 39-year-old Pakistani salesman approached the local bank’s Sudanese sales representative and …
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Why does Fintech matter to the financial services
Dubai: Fintech is a rapidly emerging industry that covers the overlapping space of technology with financial services. With the growing application of technology, financial services industry can no longer ignore this latest development. With the increasing …
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Transforming the UAE’s banking industry through digital innovation
The UAE’s banking sector is about to take a giant digital leap with the launch of the Emirates Digital Wallet, which is scheduled to take place within the next few months. The first-of-its-kind wallet, developed and implemented under the aegis of the UAE …
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ADNOC seeks to reduce costs, explore joint ventures
ADNOC has emphasised that, unlike Saudi Aramco’s IPO slated for late next year that will sell … manages 460 petrol stations and convenience stores across the United Arab Emirates. ADNOC said it expects the valuation of its retail subsidiary …
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EXCLUSIVE-Saudi Aramco advisers favour London for historic IPO – sources
This was a clear sign that London is ready to welcome Aramco and needs its IPO to attract more sovereign-held entities … (Reporting by Saeed Azhar, Hadeel Al Sayegh in Dubai and Pamela Barbaglia in London; additional reporting by Reem Shamseddine in …
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Artificial intelligence: How it’s transforming financial services in UAE
Being around for more than 60 years, artificial intelligence (AI) is now a part of our daily lives – be it chatbots, robo advisors, cognitive computing and much more that act as an aid to many financial institutions. For many businesses transforming …
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PropTech revolution has arrived in the UAE, study finds
PropTech to disrupt real estate market The UAE findings reinforce forecasts that in the wake of the revolutionary change that financial technology (FinTech) is having on the banking sector, PropTech will similarly disrupt the property sector. Property …
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Dubai salesman jailed for defrauding bank of Dh180,000
Dubai: A salesman has been jailed for six months for defrauding a bank of Dh180,000 in personal loan and credit card using forged papers within two months. The 39-year-old Pakistani salesman approached the local bank’s Sudanese sales representative and …
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A family office spin-off runs a hedge fund that invests like institutions
Dover then moved to Dubai with his wife, and there, received interest from GCC-based families as well. So in late 2015, he spun out of the family office to focus on managed accounts for these families, and launched the Heirloom Investment Fund in June 2016.
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Is This Oil Price Rally Sustainable?
citing tougher disclosure rules in the U.S. The final decision for the estimated $100 billion IPO is not expected until later this year. UAE: We will increase compliance. The UAE said that it would cut production deeper in the near future in order to boost …
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