Tag: hedge fund

Bounced cheques for amounts in excess of AED200,000 remain a criminal offence in the UAE and a conviction could mean a possible jail sentence for Naqvi. Earlier in June, Abraaj filed for provisional liquidation and is using courts in the Cayman Islands to …
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DUBAI, 24th June, 2018 (WAM) — The UAE Food Bank distributed 73,200 food packets during the Holy Month of Ramadan this year, which included 49,700 iftar kits and 23,500 suhoor meals. The food distribution was organised in cooperation with a group of …
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This month, Dubai-based Abraaj Group, which once managed almost $14 … friends and business associates to siphon money from the fund. The hedge funds originally estimated the alleged fraud by IREO executives at about $147 million, but upped that estimate …
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Dubai Financial Market (DFM) closed at 0.03 per cent to 2,929.06 points, and the Abu Dhabi Securities Exchange (ADX) levelled up 0.34 per cent to 4,550.51 points on Sunday. The UAE bourses are likely to maintain the sideways trend this week amid cautious …
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Abu Dhabi Global Market (ADGM), the emirate’s finance hub, has launched a new framework to regulate … In April, a joint venture in Dubai launched three cryptocurrency assets backed by diamonds. Al Kasir Group, which said it is part of a joint venture …
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Dubai: Financial advisors have said time and again that people should obtain an insurance before hopping on a plane to visit another country. However, a new research found that almost seven in ten UAE residents go on holiday or business trip without …
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DUBAI, 25th June, 2018 (WAM) — As part of its leading investor and issuer services, Dubai Financial Market (DFM) has successfully accomplished the cash dividend distribution for the financial year 2017. As much as AED15.8 billion been disseminated to …
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Dubai: Money in circulation and short-term bank deposits in UAE have recorded a decrease by 3.3 and 0.7 per cent respectively during the last month of May, UAE Central Bank said in its monthly bulletin. The decrease, however, was overshadowed by a 0.4 per …
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DUBAI, United Arab Emirates — Long-haul airline Etihad Airways will loan pilots to competing Dubai-based carrier Emirates under a new program, officials acknowledged Sunday, marking a rare co-operation between the two state-owned carriers who operate …
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Dubai: JPMorgan Chase & Co plans to sell its stake in Saudi Investment Bank back to the Riyadh-based lender at a 24 per cent discount as it exits non-core holdings globally. Saudi Investment Bank signed an agreement to buy the 7.5 per cent stake …
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Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has joined the UAE International Investors Council (UAEIIC), making it the first bank in the UAE to become a member in the council. This comes following an approval from the board of directors …
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Shuaa Capital and National Bonds have announced plans to launch a joint venture in Saudi Arabia to offer savings and investments schemes in the Gulf kingdom. The partnership aims to meet a growing demand for investment and savings solutions in the kingdom …
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Dubai: Last week the Dubai Financial Market General Index (DFMGI) got hit hard, falling 110.06 or 3.62 per cent to end at 2,928.17. That’s its largest one-week decline since early November 2017. Weakness was widespread as there were only five advancing …
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Provided by Khaleej Times UAE, Saudi Arabia set to spur IPO boom The initial public offering (IPO) activity in the Middle East is poised to pick up in the second half of 2018 after a slow start in the first half as the result of a privatisation drive …
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Dubai: The Dubai Financial Services Authority, DFSA, has entered into a Memorandum of Understanding with the Astana Financial Services Authority, AFSA. The MoU was signed in the Dubai International Financial Centre, DIFC, by Bryan Stirewalt, Managing …
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Law360, London (June 22, 2018, 9:15 PM BST) — The top appeals court for U.K. overseas territories has dismissed claims that Investcorp Bank BSC breached an agreement with a Dubai-based businessman who lost out when a series of leveraged hedge fund …
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The UAE’s Central Bank decision to cap fees and commissions on select banking services may drive some lenders to raise interest rates to cover their risk, banking analysts said. The regulator’s move will mainly affect retail banks, who may see an …
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