DUBAI, United Arab Emirates — Firefighters have put out a blaze that broke out early Friday in one of the world’s tallest residential towers in Dubai, engulfing part of the skyscraper and sending chunks of debris plummeting below, the city authorities …
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Licensed companies in Dubai’s financial centre up 6.2% in 1H17
There were 463 regulated financial institutions in the DIFC as of 30 June, while the workforce reached 21,628 operators and “is expected to rise as new companies join the centre”, the DIFC said. In the first half of the year, the centre made …
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Dubai to have PU campus
LAHORE – The Punjab University Hailey College of Banking and Finance (HCBF) and Professionals and Accountancy Centre (PAC) established under Knowledge and Human Development Authority (KHDA Dubai) Thursday signed an MoU for establishment of PU campus in Dubai.
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Dubai Chamber to host workshops on VAT
The Dubai Chamber of Commerce and Industry will host two workshops in cooperation with the UAE’s Federal Tax Authority (FTA) to provide guidelines for complying with the forthcoming GCC-wide value-added tax (VAT). The Dubai Chamber of Commerce and …
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Several Dubai horses in the mix on Day Four
Battaash, an impressive winner of a Group 3 event at Sandown on his last start, represents Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, while Godolphin’s Profitable seeks his first win since he scorched home to win …
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UAE’s ENOC secures $500m revolving credit facility
Standard Chartered Bank and BBK B.S.C. ENOC Group’s chief executive, Saif Humaid Al Falasi, said: “Over the next five years, the group will focus on expanding capacities to support domestic energy demand in alignment with Dubai Plan 2021 and in …
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Exclusive: Goldman Sachs buys into Aramco $10 billion loan as it seeks IPO role – sources
DUBAI (Reuters) – Goldman Sachs (GS.N … It is common practice in capital markets to first establish banking relationships through loan transactions which are then followed by other deals. Goldman purchased a portion of the $10 billion revolving credit …
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PU to set up campus in Dubai
LAHORE: The Punjab University (PU) Hailey College of Banking and Finance (HCBF) and Professionals and Accountancy Centre (PAC), established under Knowledge and Human Development Authority (KHDA), Dubai, on Thursday signed a memorandum of understanding for …
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Financial experts urge UAE businesses to prepare for VAT
Financial experts have warned that many businesses have an “unconscious defiance” about the introduction of VAT and will only begin taking the tax seriously when the “fines start coming through the door”. The Tax Procedures Law issued this week laid down …
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Banker sues hotel for Dh50m after finding bloodied bandage in meal
Dubai: One of the UAE’s top banking personalities is suing a landmark hotel for Dh50 million in compensation after finding a bloodied bandage in his plate during a VIP business dinner. The high-profile banker had contacted the Dubai-based hotel to …
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UAE’s credit and deposit growth eased in June
Credit and deposits growth in the UAE’s banking sector eased in June according to the monetary data from the Central Bank of UAE. Gross loans fell by 0.5 per cent month on month. While the on ongoing weak credit demand has contributed to slower credit …
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Aramco pits London against New York as Saudis pick venue for IPO
Dubai: Saudi Arabia aims to sell about 5 per cent of Saudi Aramco in an initial public offering next year, and stock exchanges from the UK to Japan are vying for what may be the world’s richest IPO. The Saudi crown prince, Mohammed bin Salman …
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UAE banking customers prefer mobile apps over call centres
UAE banking customers prefer making transactions via mobile banking channels rather than dealing with an adviser by phone, a new survey has revealed. About 61 per cent of UAE consumers said they preferred their bank’s website or mobile app to make a …
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Mashreq Bank Wins 2016 WfMC Global Awards for Excellence in Business Process Management
DUBAI & WESTBOROUGH, Mass.–(BUSINESS WIRE)–Virtusa Corporation (NASDAQ GS: VRTU), a global business consulting and IT outsourcing company that accelerates business outcomes for its clients, today announced that Mashreq Bank, UAE’s leading financial …
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UAE banker sues Dubai hotel for $13.6m over ‘bloodied bandage’ in meal – report
… reportedly suing a hotel in Dubai for Dhs50m ($13.6m) in compensation after finding a ‘bloodied bandage’ in his meal during a business dinner. The discovery was made during a VIP meal with the country’s top banking officials, according to Gulf News.
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Axis Bank Raises $500 Million From Bonds
The bank has issued senior fixed rate bonds aggregating to $500 million under the Medium Term Note (MTN) Programme through its Dubai International Financial Centre (DIFC) branch, Axis Bank said in a regulatory filing. The notes will be listed at the …
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New bond issue: Axis Bank (Dubai branch) issued international bonds for USD 500.0m maturing in 2022 with a 3% coupon.
Issue Managers Bookrunner: Axis Bank, BNP Paribas, Citigroup, Credit Agricole CIB, HSBC, JP Morgan, Bank of America Merrill Lynch, Mitsubishi UFJ Financial Group, Standard Chartered Bank Depository: Euroclear Bank, Clearstream Banking S.A.
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