“The UAE has reached a very advanced stage regarding the legislative aspects of the tax system that is among the best in the world. Through Ministry of Finance, which is authorised to issue tax legislation and policies, the Tax Procedures Law was issued …
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Dubai’s Emaar posts first-half profits, announces new IPO
DUBAI, United Arab Emirates – Dubai developer Emaar Properties has posted 2.8 billion dirhams ($772 million) in net profits for the first half of 2017 and laid out plans to spin off its domestic real estate business. Emaar Properties, which trades on the …
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IPO Activity in GCC Slows Down in Q2 2017: Report
Further, IPO activity in the first half (H1 … In the UAE, Industrial & Commercial Bank of China Limited – Dubai Branch (“ICBC”) listed three bonds on Nasdaq Dubai, amounting to $400 million, $300 million and EUR500 million. In Saudi Arabia, Acwa …
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Dubai’s Emaar Properties posts 14 pct rise in second-quarter profit
DUBAI, Aug 14 (Reuters) – Dubai’s Emaar Properties , which is … The retail operation last week reported a 5 percent increase in second-quarter profit. The initial public offering (IPO) of up to 30 percent of the UAE development business is expected …
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IPO activity in GCC slows down in Q2
Further, IPO activity in the first half (H1 … In the UAE, Industrial & Commercial Bank of China Limited – Dubai Branch (“ICBC”) listed three bonds on Nasdaq Dubai, amounting to $400 million, $300 million and EUR500 million. In Saudi Arabia, Acwa …
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Energy hedge funds look to spreads, margins as long bets flail
Commodity hedge funds have dwindled in recent years as oil prices slumped … and Catherine Ngai in New York and Amanda Cooper in London; Editing by Lisa Shumaker) DUBAI (Reuters) – Four Arab countries that imposed sanctions on Qatar have told the United …
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UAE Ministry of Finance Organises the “Youth Council of the Ministry of Finance” Event
As part of its commitment to support young generations and empower their roles at work and in the community; and develop an environment to showcase their abilities, the Ministry of Finance (MoF) organised “Youth Council of the Ministry of Finance …
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Aster DM re-files IPO papers, cuts offer size
According to the new DRHP, available on the websites of the investment banks to the IPO, the firm is looking to raise around … across all the Gulf Cooperation Council states of United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, as …
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Financial Firm Holborn Assets Seeks Six New Recruits for “Opportunity of a Life Time”
DUBAI–(BUSINESS WIRE)– Holborn Assets, the international financial advice firm head quartered in Dubai, has announced today a brand new internship opportunity for six ambitious, driven students and graduates. Successful candidates will work closely with …
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Banking sans branches
Smartphones are now the gateway to your banking transactions, paving the way for more mobile apps and digital payment solutions to ease your lifestyle by reducing branch visits. This has indeed kept pressure high on the UAE banking sector to innovate and …
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Moody’s changes Qatar banks’ outlook to negative
Dubai: Credit rating agency Moody’s Investors Service has changed the outlook on Qatar’s banking system to negative from stable due to the weakening operating conditions and continued funding pressures facing Qatari banks. The rating agency’s new outlook …
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UAE bank ATMs touch 5,219 in H1
The number of automatic teller machines (ATMs) operated by banks in the UAE hit 5,219 by the end of H1, an increase of two per cent from 5,118 in H1 2016, according to UAE Central Bank statistics. The number of national banks stood at 23 in Q2 2017, with …
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Dubai banking hub at risk because of Gulf crisis, bank CEO says
The Gulf crisis, which saw Arab allies of Saudi Arabia including the United Arab Emirates boycott Qatar, threatens Dubai’s standing as regional financial hub, the CEO of international bank Standard Chartered said on Monday. “There is a lot of benefit we …
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UAE bank ATMs surge to 5,219, up 2pc in H1
The number of automatic teller machines (ATMs) operated by banks in the UAE hit a total of 5,219 by end of H1, an increase of 2 per cent from 5,118 in the same period in 2016, according to UAE Central Bank statistics. The continual rise in ATMs in the …
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This major UAE bank is going to stop accepting cash cheques
Heads up: RAK Bank has said that they will no longer accept cash cheques at all from September 1 onwards. Why won’t the major bank clear cash cheques? They’ve said it’s all about protecting customers from “an increasing trend of fraud”.
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Standard Chartered CEO says Gulf rift puts Dubai finance hub at risk
The boss of Standard Chartered has warned that Dubai risks damaging its status as a financial centre as a result of the trade boycott of Qatar by a Saudi-led bloc, which includes the United Arab Emirates. Standard Chartered is a major lender across the …
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EFCC arrests Dubai-bound Nigerian with 849 ATM cards
The Economic and Financial Crimes Commission has arrested a Dubai-bound Nigerian … Operatives of the Commission discovered that the suspect had 490 Guaranty Trust Bank ATM cards, 287 of Access Bank, 49 of Eco Bank, 10 of UBA, six of Stanbic IBTC Bank.
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