Dubai Islamic Bank sponsors 5 UAE Food Bank branches

Dubai: Dubai will get five more Food Bank branches, thanks to a Dh5 million sponsorship from Dubai Islamic Bank (DIB). The UAE Food Bank and Dubai Municipality recently signed the sponsorship agreement with DIB, making it one of the key sponsors of the UAE ... ( read original story ...)

Emaar seeks nod to offload 30% development unit stake via IPO

The board will also discuss its entry into a financing arrangement with First Abu Dhabi Bank, the company said in a statement posted on Dubai Financial Market’s website. Emaar had earlier said that it would use the proceeds of the IPO to distribute ... ( read original story ...)

Dubai’s DP World acquires new businesses in $405m deal

DP World on Monday announced that it has entered into agreements to acquire Maritime World, the owner of Dubai Maritime City (DMC), for $180 million and to buy Drydocks World by means of a capital injection of $225 million. DMC is a maritime service ... ( read original story ...)

UAE banking to strengthen in 2018 – study

The UAE’s banking sector will see renewed growth in 2018 and remain “fairly robust” into 2019, a new analysis says. The UAE’s economy overall will benefit from higher oil prices and easing oil production cuts, driving a resurgence in bank lending ... ( read original story ...)

Dubai Financial Regulator Issues Warning on ICOs

A financial services regulator in Dubai has issued a warning on initial coin offerings (ICOs). In a new statement today, the Dubai Financial Services Authority (DFSA) became the latest markets regulator to urge caution to prospective investors, a list ... ( read original story ...)

Dubai & Malaysia Sign Fintech Cooperation Agreement

The Dubai Financial Services Authority (DFSA) and Securities Commission Malaysia (SC) have entered into an agreement to cooperate in the development of Fintech. According to both parties, this agreement reflects efforts by both authorities to provide a ... ( read original story ...)

Aramco IPO Remains On Track, Company Says

Aramco’s initial public offering remains on track for next year, the company told UAE’s The National in an email, following a report that suggested the initial schedule might be delayed. The delay, sources told Bloomberg yesterday, would be because of ... ( read original story ...)

UBF launches first cyber threat sharing platform for UAE banks

Dubai: The UAE Banks Federation (UBF), the professional representative body of banking industry comprising 48-member banks operating in the UAE, on Thursday launched its first Information Sharing and Analysis Centre (ISAC) in the UAE. The centre is powered ... ( read original story ...)