UAE cashes in on digital finance

A spurt in digital finance in the UAE is inevitable as the country embraces the global trend of smart payment solutions. Digital finance - financial services delivered via mobile phones, the internet or cards linked to a digital payment system - could be a ... ( read original story ...)

UAE’s first food bank launches in Dubai

DUBAI // Low-income families and labourers will be able to get food donated by hotels and supermarkets after the country’s first food bank was launched in the city on Wednesday. Stocked with boxes of food as part of the Year of Giving, the food bank aims ... ( read original story ...)

China gathers state-led consortium for Aramco IPO

Hong Kong/Riyadh/Dubai: China is creating a consortium ... Saudi officials have said Chinese companies were interested in investing in the Aramco IPO as the country — the second biggest consumer of oil globally — seeks to secure crude supplies ... ( read original story ...)

UAE's first food bank opens in Dubai

Dubai: Dubai Municipality opened the UAE's first Food Bank off Al Khail Road in Al Quoz this morning. Hussain Nasser Lootah, director general of Dubai Municipality officially inaugurated the Food Bank that includes two refrigerated containers to store dry ... ( read original story ...)

Dubai index jumps with Emaar shares, bucking trend

Dubai: Dubai index jumped with Emaar Properties on Tuesday, bucking the regional trend, and shares of Gulf Finance House also rebounded. The Dubai Financial Market General Index closed 0.92 per cent higher at 3,495.82. Traded value jumped to Dh380 million. ( read original story ...)

UAE not keen on Adnoc IPO like Aramco, energy minister says

The United Arab Emirates has not seen a need for or discussed the listing of state-run Abu Dhabi National Oil Company (Adnoc) — similar to Saudi Aramco’s scheduled initial public offering (IPO) — the country’s energy minister Suhail Mohammad Al ... ( read original story ...)

Investment bank Houlihan Lokey to open Dubai office

Houlihan Lokey sees opportunities in the region to bring in outside capital whether it is from insurance companies, hedge funds, private equity or others, Arun Reddy, a managing director of the firm currently based in London, who will relocate to Dubai to ... ( read original story ...)

Conservative lending curtails profitability of UAE banks

according to UAE Banking Pulse, an analysis of key data of top 10 banks by Alvarez & Marsal (A&M), global professional services firm. In 2017 the UAE banks are expected to report mid to high single-digit growth in assets while maintaining costs to income ... ( read original story ...)