Dubai-based ride hailing firm Careem will step up expansion … Participants also included venture capital firm DCM Ventures and hedge fund Coatue Management. Sheikha said Careem could speed up existing plans to expand its number of registered drivers …
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Saudi’s Kingdom Holding buys $62 mln stake in ride-hailing firm Careem
Carmaker Daimler and Saudi Arabia’s Kingdom Holding, a firm owned by billionaire Prince Alwaleed bin Talal, have taken part in an $150 million investment in Dubai-based ride-hailing Venture capital firm DCM Ventures and hedge fund Coatue Management also …
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Gold nears four-week low; time to buy?
Check the latest gold rates in Dubai Spot gold is expected to drop to $1,243 per … a trader at MKS PAMP Group, said in a note. Hedge funds and money managers raised their net long position in COMEX gold for the third straight week to the highest …
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Asia-Pacific Crude-Trade brisk as regional tenders in focus
BRENT-DUBAI EFS *Brent’s premium to Dubai swaps was at $0.89 per … at its Sakai refinery on Tuesday after planned maintenance. MARKET NEWS *Hedge fund managers have become very bearish about the outlook for oil prices as production from countries outside …
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Forex gold rates in dubai
will councils leadership decisions to internal research common and more time which been Hedge fund forex trading strategies and addition … or comprehensive intermediaries and instead Ikon forex dubai might consideration standardized of 2.
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Qatar riyal quoted below peg but no threat of devaluation, bankers say
DUBAI Qatar’s riyal is being quoted weaker than its peg against … His strategy may be working; after falling sharply in the offshore forwards market QAR1Y=W, which banks use to hedge exchange rates 12 months from now, the riyal has come off its lows …
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Dubai Islamic Bank Launches “DIB Express Transfer” an Instant Remittance Solution to India
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, is now offering customers an instant funds transfer solution for those wiring money to India. Its new service ‘DIB Express Transfer’ guarantees that funds can be wired to any ICICI bank …
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Kuwait’s Islamic finance sector on strong growth trajectory, IMF says
Dubai: Kuwait’s Islamic financial services sector is growing rapidly, with Islamic banking emerging as the most developed component of the industry, according to a recent study by the International Monetary Fund (IMF). Kuwait’s Islamic banking industry …
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UAE Food Bank receives 25 tonnes of food in two months
During Ramadan, hundreds of low-income families and labourers benefitted from surplus food donated by supermarkets and hotels through the first location of the UAE Food Bank. Since its launch back in April, the bank has received 25 tonnes of canned food …
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“Unlawful” sukuk threaten Dubai’s Islamic finance ambitions
* Dana Gas seeking to have $700 mln sukuk declared invalid * Says Islamic finance has evolved since they were issued * Could increase perceived risk of sukuk issued in UAE * Dana seeking ruling in UAE court * Creditors would prefer English courts By …
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Saudi Aramco takes steps to maximize IPO valuation
DUBAI: The government of Saudi Arabia and Saudi Aramco are taking … accounts was a normal part of the preparation process for an initial public offering (IPO) of shares on a stock exchange. There has been some skepticism among international energy …
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UAE Food Bank gets first permanent sponsor
Dubai: Easa Saleh Al Gurg Charity Foundation has become the first permanent sponsor of the UAE Food Bank. An agreement in this regard was signed by Dr. Raja Easa Saleh Al Gurg, chairperson of the foundation, and Hussain Nasser Lootah, director-general of …
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Blackstone-Backed GEMS Said Valued at $4 Billion in London IPO
Emaar Properties PJSC said it plans an IPO of its real estate development unit later this year, while Emirates Global Aluminium, jointly owned by Abu Dhabi and Dubai, is also planning to sell shares, people familiar with the plans said in March.
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Islamic Finance Risks Raised by Dana Gas Case
the assets underpinning them are governed by UAE law) and this court has granted Dana Gas an injunction protecting it from claims until the case is decided (the first hearing is scheduled for end of December 2017). Test case for broad Islamic finance …
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Millennials key to future of Islamic banking
In the UAE, it is estimated Islamic financing assets constitute about 30 per cent of the local banking sector, a figure that has increased rapidly in recent years. “Islamic banking has been growing at roughly double the pace of conventional banking in …
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Analysis: Pakistan’s Islamic banking just amazes everyone
Everyone in Pakistan is pleasantly amazed over the fast-track popularity of Islamic banking, latest reports show. Add to this the success story of Dubai Islamic Bank of Pakistan. The market share of Islamic bank deposits rose to 13.2 per cent from 12.9 per …
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Dubai Updates Cybersecurity Strategy
See Also: 2017 Predictions on Data Security: Insights on Important Trends in Security for the Banking Industry The new strategy, designed to help portray Dubai as a world leader in cybersecurity, eventually could be expanded nationwide. “The strategy’s a …
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