UAE hikes interest rates: How will it impact your EMI?

The United Arab Emirates central bank said on Wednesday that it was raising key interest rates by 25 basis points, effective on Thursday, in response to the rate increase by the US Federal Reserve. Rates on certificates of deposit issued by the UAE central ... ( read original story ...)

First Qatar stock exchange IPO since 2014 likely

Discussions with the unnamed family-owned firm were in their final stages, said Mr Al Mansoori on the sidelines of the Arab IPO Summit in Dubai yesterday. "It’s in the process, hopefully IPO-ing in April," he told The National. He did not give an ... ( read original story ...)

CBK signals end to licensing freeze with nod for Dubai bank

The Central Bank of Kenya (CBK) yesterday signalled its intention to lift the moratorium it had imposed on the licensing of new banks, saying it had started processing one local and one foreign application to set up operations. The CBK said it would ... ( read original story ...)

UAE Bankruptcy Law: A guide for business directors

The new UAE Bankruptcy Law (Federal Law No. 9 of 2016) has put a spotlight on the treatment of companies in financial difficulties in the United Arab Emirates. It comes into force on 29 December 2016. We set out a summary of the key points in the Law. ( read original story ...)

Nasdaq Dubai, Bourse de Tunis partner to boost Islamic finance

Nasdaq Dubai and Bourse de Tunis have signed a Memorandum of Understanding (MoU) to explore collaboration possibilities, including initiatives regarding existing and future issuers and listings on the two exchanges, according a media statment, Ways to ... ( read original story ...)

Saudi Aramco selects FTI as global media advisor for IPO: sources

KHOBAR, Saudi Arabia/DUBAI Saudi Aramco [IPO-ARMO.SE] has chosen U.S.-based FTI Consulting (FCN.N) as global media adviser for what is expected to be the world's largest initial public share offer, industry sources said. In recent months the Saudi national ... ( read original story ...)

UAE bank sector assets at Dh2.6 trillion, tops in GCC

The UAE's banking sector topped the GCC region in terms of asset volume, with a total value of about $711 billion (Dh2.61 trillion) in 2016, according to statistics from the Central Bank of the UAE. The Saudi Arabia banking sector came second, with a total ... ( read original story ...)