US tariffs on aluminium imports have prompted Emirates Global Aluminium, which produces about 4 percent of the metal globally, to delay an initial public offering. A planned share sale in the UAE may …
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Africa emerges as new frontier for Islamic finance
Dubai: Islamic finance is expanding rapidly in Africa, spreading across 18 African markets with great prospects for growth, according to rating agency Moody’s. While Islamic bond (sukuk …
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Sico gets key Dubai Financial Market accreditation
Sico, a leading regional asset manager, brokerage, and investment bank, has been accredited to provide liquidity and act as market maker for companies listed on Dubai Financial Market (DFM). Its funct…
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UAE Government Spending on Target at $2.84 Billion
Read More New UAE Visa Law Might Propel It to Top 10 World Financial Hubs UAE Residents Spend Most of Their Income on This Category Health sector spending reached Dh766 million, accounting for 7.3 per …
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Dubai Chamber to Head Working Group on SME Banking Challenges
Dubai Chamber of Commerce and Industry will head a new working group which will be tasked with engaging various public and private sector stakeholders and tackling a variety of banking challenges face…
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UAE retailers urged to register for VAT tourist refund scheme
the retailer must meet the financial credit requirements specified by the FTA. In a statement, the FTA warned that that a retailer’s membership in the tourist refund scheme could be revoked it they fa…
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Top UAE banks step up lending as confidence rises
Four of the top banks grew their L&A market share, and two banks increased market share overall [L&A and deposits],” the UAE Banking Pulse report for the second quarter of 2018 by A&M said. Dr Saeeda …
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UPDATE 1-Saudi’s ACWA Power delays plans for IPO – sources
DUBAI, Sept 20 (Reuters) – 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 …
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Expats in UAE cash in on weaker home currencies
The three-month period saw a jump of 8.8 per cent in transfers to Dh44.4 billion as against Dh40.7 billion during the same period last year, data from the Central Bank of the UAE data shows. Other top …
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Expat remittances from UAE increase 13% to $23.96bn
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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