UPDATE 1-Qatar National Bank sees no big deposit outflows

DUBAI, June 14 Qatar National Bank (QNB), the largest bank in the Middle East and Africa, has seen no significant outflows of deposits since a diplomatic rift started between Qatar and certain other Arab countries, it said on Wednesday. Last week ... ( read original story ...)

‘UAE paid $3bn to finance Turkey coup attempt’

The United Arab Emirates financed a high-profile coup attempt last year in Turkey and paid about three billion dollars to the putschists, a columnist in a Turkish daily has claimed. Mehmet Acet, a columnist for Yeni Safak daily, said on Tuesday that ... ( read original story ...)

Dubai startups get new funding sources

The Mohammed Bin Rashid Fund (MBRF), which is the financial arm of Dubai SME, and finance platform Beehive have signed a memorandum of understanding (MoU) to aid small and medium-sized enterprises (SMEs) with their financing needs. The MoU will enable SME ... ( read original story ...)

Natural gas built Qatar, now may protect it in Gulf dispute

As a hedge ... sovereign wealth fund called the Mubadala Development Co., French oil giant Total SA and Houston-based Occidental Petroleum, did not respond to a request for comment. Without that natural gas, electricity plants in Dubai and the UAE capital ... ( read original story ...)

Emaar rethinks IPO strategy

The funds raised from the IPO will be distributed among the company’s shareholders as a special dividend – the primary beneficiary in this case will be Investment Corporation of Dubai (ICD), the main sovereign wealth fund of the emirate, which owns ... ( read original story ...)

You don’t need to provide your bank statement to your employer

You may advise your employer that you will not provide your personal bank account statement. However, you are willing to provide the same to the authorities in the UAE, if asked by the authorities. The detention of a passport by the employer against the ... ( read original story ...)

Emaar hires Goldman Sachs to manage IPO of real estate unit

The malls unit IPO raised about $1.58 billion in 2014 and is the largest share sale in the UAE in the past nine years, according to data compiled by Bloomberg. Emaar, listed on the Dubai Financial Market, announced plans to spin-off its real estate unit on ... ( read original story ...)