DUBAI, United Arab Emirates — As pressure on North Korea grows over its nuclear weapons program, America’s most valued Arab allies host thousands of its labourers whose wages help Pyongyang evade sanctions and build the missiles now threatening the U.S …
( read original story …)
Bank of Sharjah reports Dh152m first half net profit
Dubai: Bank of Sharjah has reported a net profit of Dh152 million for the first half of 2017, down 13.6 per cent compared to Dh176 million for the same period of 2016. “Net profit was affected mainly by a marginal increase in cost of funds, and equity …
( read original story …)
Exclusive: Saudi Aramco advisers favor London for historic IPO – sources
DUBAI/LONDON (Reuters) – Saudi Aramco’s advisers have recommended … A final decision on the venue for what is expected to be the world’s biggest IPO and is targeted to raise $100 billion will be taken by Crown Prince Mohammad bin Salman, who is …
( read original story …)
Dubai’s Mashreq bank sees drop in demand for Qatar business -CEO
DUBAI, July 27 (Reuters) – Mashreq, Dubai’s third-largest bank by assets, has seen a drop off in demand for business in Qatar since a dispute erupted between the Gulf state and its neighbours, Chief Executive Abdulaziz al-Ghurair said. Banks in the United …
( read original story …)
Imran urges UAE central bank to disclose non-residents’ accounts details
Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Thursday urged United Arab Emirates (UAE) Central Bank to disclose details of non-resident account holders under the international agreements. Panama Papers probe, in its final report, revealed Prime …
( read original story …)
UAE issues circular on freezing bank accounts of terrorists, terror organisations
Banks and other financial institutions operating in the United Arab Emirates have been instructed to search for and freeze any accounts or deposits or investments held by individuals or entities designated as terrorists or terrorist organisations by the …
( read original story …)
Imran Khan urges UAE central bank to disclose non-residents’ accounts details
ISLAMABAD: Declaring Iqama [work permit] a kind of protection and safe passage under international agreements, Pakistan Tehreek-e-Insaf (PTI) chairman urged United Arab Emirates (UAE) Central Bank to disclose all details of ‘non-residents’ account …
( read original story …)
Pipeline of IPOs from UAE in full flow as Aramco sale looms
Dubai: Saudi Arabian Oil Co. isn’t the only one keeping IPO markets busy in the Middle East. A slew of companies from the United Arab Emirates, both sovereign-owned and privately held, are lining up initial public offerings in a bid to capitalise on …
( read original story …)
Dubai mortgage firm Amlak developing villa project in Mirdiff
Dubai-based mortgage firm Amlak Finance has completed the first phase of its new residential development project in Mirdiff, it announced on Monday. The Dhs135m villa project marks the first time Amlak is developing a fully-owned property. The project …
( read original story …)
UAE asks banks to freeze accounts of those named on Qatar-linked blacklist: WAM
DUBAI (Reuters) – The United Arab Emirates’ central bank has asked all banks and financial institutions to stop dealing with 18 more individuals and entities with alleged links to Qatar, the state news agency WAM reported on Thursday. The move makes it the …
( read original story …)
Pipeline of IPOs From U.A.E. in Full Flow as Aramco Sale Looms
Emirates Global Aluminium The largest aluminum producer in the Middle East is considering an IPO in Dubai and Abu Dhabi, potentially making it one of the first companies to be represented on both exchanges, according to people familiar with the plan.
( read original story …)
Pipeline of IPOs From U.A.E. in Full Flow Ahead of Aramco Sale
Saudi Arabian Oil Co. isn’t the only one keeping IPO markets busy in the Middle East. A slew of companies from the United Arab Emirates, both sovereign-owned and privately held, is lining up initial public offerings in a bid to capitalize on money …
( read original story …)
Abu Dhabi Ports ‘mulling IPO’ amid UAE listing boom
ABU DHABI (BLOOMBERG) – Abu Dhabi Ports is considering an initial public offering (IPO), joining a growing list of state entities in the United Arab Emirates seeking to sell shares, according to people familiar with the matter. The government-run ports …
( read original story …)
Abu Dhabi Ports denies plans for Iisting
Abu Dhabi National Oil Company is planning to list its retail unit for a valuation of up to $14bn and Saudi Aramco is preparing for what is expected to be the world’s largest ever IPO next year. Read: UAE’s ADNOC plans listing of retail unit at $14bn …
( read original story …)
UAE orders banks to freeze accounts, assets of those on terrorist list
The Central Bank of the UAE issued a general statement to all banks and financial institutions to search for and freeze any accounts, deposits or investments belonging to persons and entities listed by the four countries boycotting Qatar. The bank said in …
( read original story …)
Dubai Financial Market : DFM second quarter profit plummets on lower trading commission fees
Only listed exchange in the Arabian Gulf posted a 19.2 per cent drop in net profit The Dubai Financial Market posted a 19.2 per cent drop in second quarter net profit on lower trading comission fees. Jasper Juinen / Bloomberg The Dubai Financial Market …
( read original story …)
UAE’s Lulu Exchange acquires Al Falah Exchange
Lulu Exchange is part of the UAE’s Lulu Group and offers financial services such as remittances, currency exchange and salary administration. It launched eight years ago and operates in the UAE, Oman, Kuwait, Qatar, Bahrain, India, Bangladesh …
( read original story …)