Dubai: Middle East billionaire Bavaguthu Raghuram Shetty hired … No final decisions have been taken and the plans could change, the people said. The timing of an IPO is yet to be determined, according to Finablr Executive Director Promoth Manghat.
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Travelex And UAE Exchange Owner Eyes IPO
Billionaire Bavaguthu Raghuram Shetty is combining Travelex and UAE Exchange under one parent company called Finablr in preparation for a possible initial public offering, according to Reuters. The UAE-based businessman announced on Monday the creation of …
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Dubai’s Lumina announces Saudi expansion plan
Andrew Nichol, who previously served as head of corporate finance for PwC in Saudi Arabia, has been appointed as a partner to enable Lumina to link three major markets – Saudi Arabia, the UAE, and the UK – for capital flows and M&A deals. Regulated by …
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Access Bank UK eyes strong growth in Africa business through Dubai
Dubai: The DIFC branch of Access Bank UK Limited, a wholly-owned subsidiary of Access Bank Plc, a Nigerian Stock Exchange listed bank expects to see strong growth for business through Dubai operations this year. The Access Bank UK was established a decade …
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5 tips to engage bank clients in the digital era
This does not include the foreign institutions based in the Dubai International Financial Centre and Abu Dhabi Global Market. To stand out, every bank needs to be clear who it is trying to serve and deliver something of real value to their customer.
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UAE- How sukuk banks on oil’s recovery
“Noor Bank conducted a non-deal roadshow in Singapore and London in October 2017 even though there was no intention of a deal at that time. In the lead-up to this recent sukuk, we revisited Singapore and London, in addition to Frankfurt and Dubai.”
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First Abu Dhabi Bank posts first-quarter gain
First Abu Dhabi Bank (FAB), the UAE’s largest bank by assets, reported a 2 per cent year-on-year profit increase in the first-quarter, boosted by higher revenue from fees and commissions and a decline in money set aside to cover bad debt. The gain came …
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Financial Restructuring Committee Holds Its First Meeting at the UAE Ministry of Finance
The Financial Restructuring Committee held its first meeting at the Ministry of Finance (MoF), which was headed by HE Younis Haji Al Khoori, Undersecretary of MoF and Chairman of the Committee. The meeting had the participation of representatives from MoF …
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Japanese prime minister praises relations with oil-rich UAE
ABU DHABI, United Arab Emirates — Japanese Prime Minister Shinzo Abe is praising relations between his country and the United Arab Emirates. Abe says Japan and the UAE will sign an investment agreement during his trip to the Emirati capital, Abu Dhabi.
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Dubai index rises as Emaar Properties plays catch-up
The Dubai Financial Market General index closed 0.19 per cent higher to 3,048.46. Emaar Properties, which was the second-most actively traded stock closed up 1.26 per cent to Dh 5.64, after gaining 6 per cent in the last few sessions. “The Emaar pack is …
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UAE e-commerce and contactless transactions boosted under new agreement
led by UAE government initiatives to offer citizens and residents innovative digital payment options. Near Field Communication (NFC) technology is among the latest payment solutions being adopted by financial institutions in the region enabling customers …
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UAE banks to experience strong liquidity this year
Dubai: The liquidity situation in the UAE’s banking sector is much more comfortable due to surging oil prices, as compared to the previous two years, and banks are expected to experience an abundance of funds in the near term, banking sector analysts and …
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UAE gains traction as competitive global wealth management centre
As such, we have seen the UAE’s ranking on the Global Financial Centre Index (GFCI) gradually rise,” said Khaled Sifri, CEO of Emirates Investment Bank. In the global ranking, Dubai ranks 25th, worldwide, followed closely by Abu Dhabi, which comes in …
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Most UAE residents would recommend their banks, insurers, survey shows
Only about 10 percent of UAE residents surveyed by yallacompare would not recommend their banks to others Just under 10 percent noted that they would not recommend their bank to others, an improvement over the 12 percent who said the same in 2017.
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Iraq awards UAE, China rights to develop oil in northeast
BAGHDAD — A United Arab Emirates energy company and two Chinese firms emerged Thursday as the only winners in Iraq’s rushed bidding round for nearly a dozen hydrocarbon-rich areas. Only nine companies out of 26 originally prequalified decided to take part.
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Malabar Gold plans IPO by 2020, contemplates dual-listing in Dubai
The world’s fifth biggest jeweller by sales, Malabar Gold, will file for an IPO by 2020 and is looking at exchanges in Dubai or London, in addition to India, according to the company’s international operations chief. “Our Indian operations will grow …
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UAE tourists VAT refund scheme plan approved
HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, who headed the meeting, applauded the commitment and voluntary compliance that UAE businesses have shown in the past few months. Despite being only a few months old …
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