The UAE’s Mashreq Bank has announced it will enter India’s non-bank financial institution (NBFI) sector through by offering external commercial borrowings in Indian Rupees through an engagement with IL&FS Financial Services Ltd. Through the IL&FS Group …
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UAE’s Emirates Global Aluminium likely to delay IPO
Sources had previously said that Bank of America Merrill Lynch, Goldman Sachs and JP Morgan had been hired to run the IPO. EGA, owned by Mubadala and Investment Corp of Dubai, was created in 2013 when state-owned companies Dubai Aluminium and Abu Dhabi’s …
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Sharjah Islamic Bank celebrates listing of $500m sukuk
Mohammed Abdulla, CEO of Sharjah Islamic Bank, on Wednesday rang the market opening bell to celebrate the listing of a $500 million sukuk on Nasdaq Dubai. The sukuk is the bank’s third that is listed on Nasdaq Dubai, the region’s international exchange …
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Saudi fund hires HSBC’s local head of asset management
Dubai: Saudi Arabia’s sovereign wealth fund hired HSBC Holdings … Cyrille Urfer, who managed stocks, bonds and hedge funds for the fund, left after less than 18 months in the role, people familiar said in April. Jacobo Solis, who joined the fund …
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Saudi sovereign fund said to hire HSBC senior executive
Cyrille Urfer, who managed stocks, bonds and hedge funds for the fund, left after less than 18 months … newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
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Dubai Investments posts 25% jump in Q1 net profit
In March, Dubai Investments announced plans to lead a consortium of investors to launch Arkan Bank, a wholesale Islamic financial institution with an initial paid-up capital of $100 million. Arkan Bank is applying to the Dubai Financial Services Authority …
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Dubai Holding to Launch Region’s First Digital Bank
Dubai Holding, the global investment holding company, has announced it will invest up to AED 1 billion over the next five years to launch a next generation digital bank for the UAE, with plans to expand services across the Middle East and North Africa region.
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Dubai Investments posts 25% growth in Q1 2018
RELATED ARTICLES: Dubai Investments unit to lead Emicool IPO | Dubai Investments to sell Emicool stake in Q4 2018 | Dubai Investments buys Union Properties’ Emicool stake for $136m Diversified investments conglomerate Dubai Investments has seen its net …
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Dubai Holding set to invest $270m in new digital bank
Dubai Holding, the global investment holding company, has announced it will invest up to AED1 billion ($270 million) over the next five years to launch a next generation digital bank for the UAE. The company said it already has plans to expand services …
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UAE loan growth picks up pace on improving corporate demand
Dubai: Credit growth in the UAE reported moderate uptick during the first quarter of 2018 according to UAE Central Bank data and calculations by Abu Dhabi Commercial Bank (ADCB). Gross credit growth in the UAE averaged 0.6 per cent month-on-month in the …
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Financial confidence dwindles among UAE residents as cost of living increases bite back
Tuan Phan began this year feeling pessimistic, due to “huge financial stress”. In the final few months of last year, the 40-year-old had to fork out for the birth of his second child, car repair bills, and a trip home to Australia at a time when his …
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UAE’s Empower wins 3,600RT district cooling contract for Dubai Arena
RELATED ARTICLES: Empower’s DIFC district cooling plant in Dubai set for $16m upgrade | CEO of Dubai’s Empower mulls IPO as 2017 net profit rises by 20% | Empower achieves electricity savings worth $762m in 2017 Emirates Central Cooling Systems Corporation …
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Pakistan, UAE sign $200m pact to finance uplift plans
ISLAMABAD – The United Arab Emirates (UAE) and Pakistan have signed a $200 million cooperation agreement to execute Phase III of the UAE Pakistan Assistance Programme (UAE PAP). The agreement was signed in implementation of the directives of President …
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How do UAE residents really feel about their…
Earlier this month, we introduced our first quarterly Consumer Confidence Tracker. It was a survey of over 1,400 UAE residents, designed to take the financial pulse of the nation during the first quarter of 2018. And one of the main headlines was that only …
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United Arab Emirates shares higher at close of trade; DFM General up 0.83%
Investing.com – United Arab Emirates equities were higher at the close on Sunday, as gains in the Finance & Investment, Services and Banking sectors propelled shares higher. At the close in Dubai, the DFM General rose 0.83%, while the ADX General index …
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A 5-point guide to paying off your debt in the UAE
Debt can quickly take over your financial freedom if not handled properly … This ratio shows how much of your income is spent on debt repayments every month. The UAE Central Bank limits the DBR to 50 per cent for individual borrowers, so your aim …
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Technology making ‘banking for all’ dream a reality
Closer home, over a fourth of Emirates NBD’s branch network in UAE is diability-friendly, with easier access and priority queueing for people of determination. The bank is also the first in the world to pilot an automated sign language translation system …
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