Demand for business credit and personal loans in the UAE rose slightly in the second quarter of 2017 and is expected to continue to increase slowly in the current quarter, according to the central bank. The latest Credit Sentiment Survey from the UAE …
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UAE’s Adnoc in talks with banks for big syndicated loan, project bond: sources
DUBAI (Reuters) – State-owned energy giant Abu Dhabi National Oil Co (Adnoc) is in talks with regional and international banks to obtain a syndicated loan worth several billion U.S. dollars, banking sources familiar with the discussions said on Monday.
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UAE credit demand begins to stabilise from second quarter
Dubai: Demand for credit in the UAE appeared to have stabilised following the recovery registered in the previous quarter, according to the second quarter credit sentiment survey of the Central Bank of UAE. The collects information from senior credit …
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The banking paradox
In this section I look at the UAE banking system and come to some startling conclusions. It seems that banks are grabbing market share in a market with deteriorating margins and increased risks. Last week I took a look at Union National Bank’s Q2 …
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Adnoc hires banks for fuel retailer IPO: sources
ABU DHABI/DUBAI (Reuters) – Abu Dhabi National Oil Company (Adnoc … First Abu Dhabi Bank, HSBC, Bank of America Merrill Lynch and Citigroup have been mandated for the IPO, sources familiar with the matter told Reuters. The sources declined to be named …
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Dubai financial authority fines, bans former Senior Executive Officer
The Dubai Financial Services Authority (DFSA) has fined Andrew Grimes, a former Senior Executive Officer (SEO) of a DFSA Authorised Firm $52,500 (Dh192,675) and imposed a restriction preventing him from performing any function in connection with the …
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Leading Dubai banks post strong set of first-half results
Dubai: Leading Dubai banks such as Emirates NBD (ENBD), Emirates Islamic (EI) and Dubai Islamic Bank (DIB) posted their first-half results on Wednesday, reporting strong operating performances supported by declines in costs, lower provisions and improved …
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Qatar’s $300 billion conundrum: how liquid are its reserves?
DUBAI/DOHA (Reuters) – When is $300 billion not enough? That question is key to Qatar’s future as some bankers and hedge funds speculate the super-rich state’s vast financial reserves may not be liquid enough to defend its currency in the long term.
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UAE bank deposits decline by $7.25bn
Total bank deposits in UAE fell by 1.7 percent, or $7.25 billion (AED26.6bn), to $433bn (AED1.589 trillion) in June compared to May, the Central Bank said on Tuesday. Resident and non-residents deposits fell in June by AED24.2bn and AED2.4bn, respectively.
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Dubai’s largest bank posts 6% rise in Q2 profit
Emirates NBD reported a 6 percent rise in its second quarter net profit on Wednesday. Dubai’s largest lender made a net profit of $550 million (AED2.2bn) in the three months to June 30, the bank announced this morning, up from the AED1.91bn it announced …
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Qatar: Alleged UAE hacking ‘unfortunate,’ violation of law
DUBAI, United Arab Emirates — Qatar, the tiny Gulf state being isolated by its neighbours, said Monday the reported involvement of the United Arab Emirates in hacking its government news site in May is “unfortunate” and a breach of agreements among …
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UAE bank launches app to enable fingerprint access to accounts
Abu Dhabi Islamic Bank (ADIB) has released a new version of its mobile banking app which enables customers to make cash withdrawals without the use of a card. Customers can also send money to a UAE mobile phone using the mobile to mobile payments …
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How the Gulf can lead in digital banking within the next two years
This can assist banks in enriching their offering for a specific target customer group, leverage alternative channels to offer core banking products and adopt innovative solutions to increase efficiency. The Middle East, and in particularly the UAE and …
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New scheme to boost UAE financial planning, cash forecasts
The UAE Ministry of Finance (MoF) and the Federal Authority for Government Human Resources have launched the first phase of the ‘e-link’ project between the financial planning system, the electronic federal budget, “Hyperion”, and the human resources …
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UAE’s ADNOC Studies Banking Majors For IPO Release
The Abu Dhabi National Oil Company (ADNOC), the state-held oil company of the United Arab Emirates (UAE), is studying proposals from Goldman Sachs, JPMorgan, HSBC, and First Abu Dhabi Bank to have lead roles in the potential listing of ADNOC’s …
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UAE remains a bright spot for private banking
The year 2016 was marked with a series of unexpected events—from Britain’s vote for Brexit, the results of the US elections and the growth of populist movements across Europe. While all of these events projected dissatisfaction with the status quo …
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Goldman, JPMorgan, HSBC vie for lead roles on UAE ADNOC retail unit IPO: sources
ABU DHABI/DUBAI Abu Dhabi’s national oil company is weighing proposals from Goldman Sachs, First Abu Dhabi Bank, HSBC and JPMorgan for lead roles in the listing of its retail business as the emirate joins other Gulf states in privatizing assets, sources …
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