The potential IPO will not involve the issue of any new stock, but its current shareholders — private equity groups General Atlantic and Warburg Pincus, and Dubai-based bank Emirates NBD — will sell a…
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Saudi Energy Minister reiterates Aramco IPO to happen within two years: Okaz newspaper
DUBAI (Reuters) – Saudi Aramco’s initial public offering (IPO) is expected to happen within two years, the Saudi newspaper Okaz said on Thursday, citing Saudi Energy Minister Khalid al-Falih. The news…
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UAE banking industry: changes, challenges and disruptors
The transaction banking industry is undergoing considerable transformation and is thriving through change. From coping with a slew of new market entrants, innovation and an emerging generation of huma…
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UAE to work with EU to clear name from tax haven list
The UAE will work with the European Union (EU) to remove its name from a list of designated tax havens announced recently, according to Abdul Aziz Al Ghurair, chief executive of Mashreq Bank and …
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DFSA signs MoU with Bank Al Maghrib
The MoU was signed by the Chief Executive of the DFSA, Bryan Stirewalt, and Abdellatif Jouhari, Governor of Bank Al Maghrib, on 13 March 2019 in Rabat. Dubai, UAE: The Dubai Financial Services Authori…
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Dubai’s Aramex Rallies, Foreigners Cheer Australia Post Exit
“Many hedge fund managers were unable to buy this company because of … Here’s what others are saying about Aramex: Ali El Adou, head of asset management at Daman Investments in Dubai: Stake sale “is …
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Dubai’s Aramex rallies as foreigners cheer Australia Post’s exit
Dubai-based Aramex was set for its biggest gain in more than … managing director at at Al Rajhi Investment in Riyadh. “Many hedge fund managers were unable to buy this company because of the foreign …
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UAE on EU tax blacklist because of poor communication, UAE banker says
“We need to reach out. I understand the reasons, and I’m sure the UAE will want to play as a global citizen,” Abdulaziz al-Ghurair, the banking group’s chairman, told reporters during a ba …
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UAE expects to reach deal with EU soon on tax-haven blacklist
said a senior UAE banking official. “I am sure this issue will be solved in the near future. I think it was due to lack of communication and lack of understanding. The EU will be approached and discus…
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EU adds UAE, Bermuda to expanded tax haven blacklist
EU finance ministers added 10 jurisdictions to the updated list. They are: the Dutch Caribbean island of Aruba, Barbados, Belize, the British overseas territory of Bermuda, Fiji, the Marshall Islands, …
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An Expat’s Guide to Banking in Abu Dhabi
Banking in the UAE is quite different from banking in western countries. An expat can find themselves in a confusing situation when trying to open an account in Dubai, Abu Dhabi, Sharjah or any of the …
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Rome vetoes UAE inclusion on EU tax haven blacklist
EU finance ministers will have to make a final decision on Tuesday over whether the UAE, which includes Dubai and Abu Dhabi, should be named as a tax haven. The commission has argued that the Gulf sta…
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The Debt Panel: ‘Can my bank use my gratuity payment to reduce my loan?’
I’ve heard that taking money to reduce debt is against the Central Bank of the UAE regulations. If this is the case, does it mean a bank cannot use a gratuity payment against an outstanding loan? I ha…
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UAE to start receiving applications for long-term residence visa for investors, entrepreneurs, innovators and talented expatriates
Deputy Ruler of Dubai and UAE Minister of Finance, Shaikh Nahayan Mabarak Al Nahayan, UAE Minister of Tolerance; Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future at the …
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UAE financial bodies launch passporting facility, enabling country-wide investment fund promotion
The UAE financial regulators have announced the launch of a new fund passporting facility to help promote investment fund in the country. In a statement, the Emirates Securities and Commodities Author…
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ADCB announces combined bank’s new board
In late January, they said their boards had voted unanimously in favour of the deal, which will create the third largest bank in the UAE. The transaction will create a robust platform to grow the bank …
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EU to add Bermuda to tax haven list, Italy blocks UAE listing
The draft list prepared by EU tax experts also includes the United Arab Emirates (UAE), a financial center for the Middle East, but Italy and Estonia are blocking its inclusion, the document shows.
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