GEMS Education is set to move ahead with an initial public offering, rebuffing interest from a private equity firm for a stake in the school operator backed by Blackstone Group according to people with knowledge of the matter. The Dubai-based education …
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Blackstone-Backed GEMS Chooses London IPO Over Stake Sale
The Dubai-based education provider may announce plans as early … JPMorgan Chase & Co. and Emirates NBD PJSC to manage the IPO, people familiar with the matter said in December. The company could be valued at about $4 billion or more, people said last …
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Virgin Mobile Middle East raises $30m in pre-IPO sukuk
In the event of an IPO, the certificates will transfer into an exchangeable sukuk, maturing 2 years from the IPO date, the Dubai-based company said in a statement. It added that the funding will be used to support its expansion in the region. Alan Gow …
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UAE digital bank attracts 10,000 new customers per month
international 60-second remittances as well as curated daily feeds of selected deals and happenings in the UAE, personalized to the customer’s preferences. The launch of Liv. Goals, a new feature that allows customers to set and save towards financial …
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Dubai Financial Market : Mada’in Properties reports significant earnings growth in FY 2017
Mada’in Properties PJSC has reported a significant growth in its operating revenue for the year ended December 31, 2017. The company has also achieved a net profit of Dh15 million, which represents an increase of 22% over the financial year ended 2016.
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Gulf Finance Saudi Arabia appoints new CEO
UAE-based financial services group Shuaa Capital has appointed a new CEO for its fully owned Sharia-compliant business financing arm, Gulf Finance Saudi Arabia. The new CEO, Atif Al Othri, will lead a team responsible for providing financial lending and …
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Expenses rising? Here’s how to avoid going broke in UAE
Dubai: The high cost of living is always a personal finance issue for many people in many parts of the world. Households constantly worry about how they can keep a roof over their heads, put food on the table or send their children to school without …
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DAFZA develops smart city goals with Dubai 10X projects
‘Dubai Blink’ and ‘FZExchange’ are two of 26 ‘Dubai … He added that the ‘FZExchange’ project aims to help investors in the free zones gain easier access to the financial and capital markets by creating a simplified regulatory environment …
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Dubai Islamic Economy Development Centre: Islamic Economy Contributes 8 Percent of Dubai’s GDP
He shared the statistics, mapping the contribution of key sectors – Islamic finance, manufacturing and trade – while chairing the second meeting of DIEDC’s Board of Directors in 2018. The contribution of the Islamic economy to Dubai’s GDP increased …
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Nigeria, UAE agreement on stolen assets takes off next month
UAE. The financial intelligence sharing by the two countries has uncovered some cases involving ex-Minister of Petroleum Resources Mrs Diezani Alison-Madueke and some of her business associates. The assets allegedly identified with Diezani are marked as J5 …
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Islamic Finance: US$400 million Sukuk by DAMAC Real Estate
The bell ceremony took place in the presence of Adil Taqi, Group Chief Financial Officer of DAMAC Properties, Hamed Ali, Chief Executive of Nasdaq Dubai, as well as senior representatives of DAMAC Properties Commenting on the announcement, Hussain Sajwani …
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Emirates NBD’s digital bank Liv. plans regional expansion
Dubai: Liv., the lifestyle digital bank by Emirates NBD targeted at millennials has completed its first year of operations acquiring 100,000 customers, becoming the fastest growing bank in the UAE. Leveraging on in its success in the UAE, the bank has …
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Dubai-based Bitcoin exchange suspends UAE dirhram withdrawals
BitOasis was founded by Jordanian entrepreneur Ola Dudin back in 2014 and currently operates in the UAE, Saudi Arabia and Kuwait. In January, 2018, the bank also suspended withdrawals to Emirates NBD, Noor Bank and Mashreq bank account holders. Subscribe …
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Video: Julius Baer, the Middle East, and banking for the world’s ultra-rich
Speaking to Arabian Business during a visit to the Julius Baer office in Dubai International Finance Centre, CEO Bernhard Hodler says the bank has long been committed to serving the needs of the Middle East’s – and in particularly the Gulf’s – UHNWIs.
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Dubai among global top 5 for economic performance
The monetary policy and the exchange rate regime adopted by the UAE Central Bank have been particularly effective in achieving economic stability and in enabling the local economy to keep pace with global economic changes. In its preparations for the …
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PNB tried cover up before Nirav Modi scam exploded: Transferred staff at Hong Kong, Dubai for revealing irregularities
New Delhi: Just months before the Nirav Modi scam tumbled out, Punjab National Bank (PNB) quietly recalled two employees, both internal auditors posted at the lender’s Hong Kong and Dubai branches after they exposed a deep rot within its banking system.
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Ajman Bank :’s board recommends capital raise
Dubai – Mubasher: Ajman Bank ’s board has proposed the increase of the bank’s capital in two phase. The first phase includes the increase of the paid-up capital within the AED 2.1 billion authorised capital, according to a bourse statement released on …
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