initiative to promote the Islamic banking and finance industry in the UAE, a media report said. The move followed a landmark agreement signed between the two parties to establish the Noor Fund for …
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Abu Dhabi Commercial Bank Partners with Silicon Valley’s Plug and Play to Join Global Ecosystem of Financial Institutions
ABU DHABI, United Arab Emirates, Aug. 5, 2019 /PRNewswire/ — Abu Dhabi Commercial Bank (ADCB) has announced its partnership with Plug and Play, the largest global innovation platform …
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Saudi leads IPO activity in region
Dubai: Saudi Arabia led the primary market activity … one of the largest IPOs in the country with proceeds of $658.7 million, was the first IPO that allowed the sale of securities to qualified …
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UAE start-ups attract talent with stock options over salaries
Wamda Capital has invested in start-ups across the Middle East and Africa, including several prominent ventures in the UAE, such as Souq, Careem, e-commerce platform Mumzworld and financial comparison …
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UAE firms launching IPOs abroad a ‘troubling sign’, says Daman Investments chairman
Relatively little IPO activity has taken place locally since late 2017, when Emaar Development sold $1.3 billion in new shares. A number of companies, however, such as Dubai-based payments provider …
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Dubai financial center introduces mandatory DC plan
Employers operating in Dubai International Financial Centre, the main financial services hub in the Middle East, will begin enrolling workers in a new mandatory defined contribution plan on Jan. 1. …
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Dubai plane lessor DAE secures $490m in loans to fund growth
with maturities ranging from three to seven years Dubai Aerospace Enterprise (DAE) secured $490 million in loans from three agreements to finance growth. Courtesy: Dubai Aerospace Enterprise Dubai …
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UAE banking sector Eid Al Adha holiday will be from Saturday August 10 until Tuesday August 13
Dubai: The UAE banking sector holiday on the occasion of Eid Al Adha will be from Saturday, August 10, until Tuesday, August 13, it was announced on Sunday. On August 1, Saudi Arabia’s Supreme …
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Bank of Sharjah reports Dh152 million H1 net profits
Dubai: Bank of Sharjah on Sunday posted a net profit of Dh152 million for the first half of 2019, down by 24 per cent year on year and up by 17 per cent compared to 31 December 2018. The net …
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Dubai Financial Market
Dubai’s emergence as a financial hub for the Middle East led to the formation of the Dubai Financial Market (DFM) in March 2000. And while global markets may have stumbled in 2008 as the economic …
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Dubai Islamic Bank – UAE
Dubai Islamic Bank (DIB) was founded in 1975 as a fully-fledged Islamic financial institution offering a range of Sharia-compliant products and services. Today, DIB provides retail, corporate, private …
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Dubai’s stock exchange eyes Middle East sustainability crown
The Dubai Financial Market has launched a blueprint to promote environmental, social and governance (ESG) issues among listed firms, pledging to become the region’s leading sustainable financial …
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No plans to delay introduction of VAT in Oman, says finance ministry
“The financial accounts of the Sultanate indicate that the financial … Subscribe to Arabian Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC …
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Dubai’s Mashreq launches credit card remittances service
Dubai-based Mashreq Bank has announced the launch of its credit card remittance service which allows customers to use their credit cards to make instant money transfers to all banks in India and …
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As Fed cuts interest rates UAE and other GCC central banks follow suit
The Central Bank of the UAE and other Arabian Gulf regulators cut benchmark interest rates following the US Federal Reserve’s decision on Wednesday to reduce its key rates for the first time in more …
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Value of Gulf’s IPOs climbs 87% in second quarter
“The UAE Cabinet’s recent announcement of sectors and economic … IPOs on the London Stock Exchange’s main market in April. The Network International IPO represented the largest outbound IPO to date …
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UAE’s credit demand picks up pace
Dubai: Gross credit growth in the UAE accelerated 0.7 per cent month on month 4.3 per cent year on year in June, according to the latest central bank data analysed by Abu Dhabi Commercial Bank …
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