Expat remittances from the UAE totalled AED 88 billion ($23.96 billion) in the first half of 2018, a 13.1 percent growth from the AED 77.8 billion ($21.18 billion) recorded during the same period in 2…
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Al Hilal Bank Successfully Closes Landmark $500 Million Sukuk
The transaction, under Al Hilal Bank’s new management team, marks the first Senior Public Sukuk from the UAE since April 2018, and re-opens the Capital markets for GCC issuers. Al Hilal Bank was last …
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Qatar’s Commercial Bank in talks for $1 billion loan
DUBAI, Sept 20 (Reuters) – Commercial Bank, Qatar’s third-largest lender by assets, is in early talks with banks to refinance a $1 billion syndicated loan, sources close to the matter said. The deal w…
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Qatar’s Commercial Bank says targets $750 million loan refinancing
DUBAI, Sept 20 (Reuters) – Commercial Bank, Qatar’s third-largest lender by assets, aims to raise $750 million through a syndicated loan, a bank spokesman said on Thursday. The deal would be the secon…
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Non-oil sector to spur growth in UAE GDP
The UAE’s real gross domestic product (GDP) is poised to grow at 2.3 per cent in 2018, underpinned by an estimated 3.6 per cent year-on-year growth in the non-oil sector in the second quarter, the cou…
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Reasons why your bank account can be frozen in UAE
Though there are a number of reasons for which the UAE residents’ bank accounts could be frozen such as arrest after a serious car accident or financial loss to the employers, but visa change or visa …
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UPDATE 1-UAE central bank trims 2018 GDP growth forecast to 2.3 pct
DUBAI, Sept 19 (Reuters) – The United Arab Emirates central bank has cut its forecast for economic growth this year after non-oil growth slowed slightly in the second quarter, according to a report re…
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Saudi’s ACWA Power delays plans for IPO
DUBAI: Saudi Arabian utility developer ACWA Power {IPO-ACPO.SE} has delayed plans for an initial public offering (IPO), originally envisaged for this year, sources familiar with the matter said on …
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Dubai stock exchange to launch REITs platform in ‘next few months’
Dubai Financial Market (DFM) has said it will launch a new real estate investment trusts (REITs) platform in the coming months after publishing new regulation. The emirate’s stock exchange said the ne…
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UAE- Business as usual during $204 billion BoB merger move
(MENAFN – Khaleej Times) Gulf operations of Bank of Baroda (BoB), the only Indian lender with presence in the UAE, will get stronger following its impending merger with two other public sector …
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UAE central bank cuts 2018 GDP growth forecast to 2.3%
The United Arab Emirates central bank has cut its forecast for economic growth this year after non-oil growth slowed slightly in the second quarter, according to a report released by the bank on …
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UAE, Saudi, elevating their game with crypto and blockchain
In February 2017, the UAE government also announced a partnership with IBM for a blockchain trade finance project. Saudi Arabia’s National Commercial Bank (NCB) has signed up officially with RippleNet …
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Merger to boost Bank of Baroda’s Gulf operations
The Gulf operations of Bank of Baroda (BoB), the only Indian lender with a presence in the UAE, will get stronger following its impending merger with two other public sector banks, the bank’s regional …
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UAE stocks end lower as sentiment remains sour
On DFM, Dubai Islamic Bank rose 0.97 per cent, as GFH Financial Group gained 1.48 per cent, and Drake and Scull International increased 1.24 per cent. Meanwhile, Deyaar jumped 5.44 per cent.
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Dubai’s Emaar, Emirates NBD partner for new credit cards
Dubai bank Emirates NBD has partnered with Emaar to launch new credit cards incorporating the developer’s ‘U By Emaar’ loyalty programme. The Emirates NBD U By Emaar Visa credit cards will …
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Bank branches have not outlived purpose in ATM era
According to research by Kaspersky Lab, 97 per cent of the UAE’s population carry a smart device, with 61 per cent conducting banking transactions via mobile apps. Customer demand is decisively …
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The Debt Panel: Dubai resident’s four credit cards have become a lifeline
Please can you offer a practical solution to help me solve this problem. BA, Dubai Debt Panellist 1: Philip King, head of retail banking at Abu Dhabi Islamic Bank I’m afraid you’ve fallen into the com…
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