“As far as the UAE is concerned, we do see a lot of valuation mispricing both in real estate and banking names. But weak sentiment, the lack of depth and better green shoots elsewhere could continue to drag the markets down,” Chandrasekaran said.
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UAE Attends Third Annual Meeting Of Asian Infrastructure Investment Bank Governors To Discuss Mobilising Private Capital For Infrastructure Funding
A UAE delegation attended the third annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB). Following last year’s event on Jeju Island in South Korea, the 2018 meeting ran from 25 to 26 June in Mumbai, India. In line …
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UAE attends 3rd annual meeting of Asian Infrastructure Investment Bank Governors
ABU DHABI, 26th June, 2018 (WAM) — A UAE delegation attended the third annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB). Following last year’s event on Jeju Island in South Korea, the 2018 meeting ran from 25th …
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UAE Banks Federation organises ‘TASHARUK’ workshop
Only by adopting a collaborative and systematic approach towards information sharing of cyber threat intelligence, banks can establish an effective defence to sustain a safe and secure banking ecosystem,” said Abdul Aziz Al Ghurair, Chairman of the UAE …
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Abraaj chief faces criminal charges in the UAE
Arif Naqvi, founder of the Abraaj Group, is facing criminal investigation in the UAE for issuing bad cheques. The new development is expected to jeopardise the prospects the company’s efforts to resolve its issues with investors and creditors through …
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UAE, Saudi execs predict economic growth for year ahead
This confidence is reflected in regional corporate spending plans: three quarters of the region’s finance executives (74 percent) plan to increase investment levels by six percent or more for the year ahead. The findings place the UAE and Saudi in the …
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Dubai’s Abraaj ‘surprised by media interest’ after Naqvi jail threat
Bounced cheques for amounts in excess of AED200,000 remain a criminal offence in the UAE and a conviction could mean a possible jail sentence for Naqvi. Earlier in June, Abraaj filed for provisional liquidation and is using courts in the Cayman Islands to …
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UAE Food Bank distributes 73,200 food packets during Ramadan 2018
DUBAI, 24th June, 2018 (WAM) — The UAE Food Bank distributed 73,200 food packets during the Holy Month of Ramadan this year, which included 49,700 iftar kits and 23,500 suhoor meals. The food distribution was organised in cooperation with a group of …
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Hedge Funds Alleging $1.5 Billion Fraud Fear They’ll `Bleed Dry’
This month, Dubai-based Abraaj Group, which once managed almost $14 … friends and business associates to siphon money from the fund. The hedge funds originally estimated the alleged fraud by IREO executives at about $147 million, but upped that estimate …
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UAE investors await firms’ disclosures on Abraaj exposure
Dubai Financial Market (DFM) closed at 0.03 per cent to 2,929.06 points, and the Abu Dhabi Securities Exchange (ADX) levelled up 0.34 per cent to 4,550.51 points on Sunday. The UAE bourses are likely to maintain the sideways trend this week amid cautious …
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Abu Dhabi finance hub ADGM to regulate crypto assets
Abu Dhabi Global Market (ADGM), the emirate’s finance hub, has launched a new framework to regulate … In April, a joint venture in Dubai launched three cryptocurrency assets backed by diamonds. Al Kasir Group, which said it is part of a joint venture …
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7 in 10 UAE residents on holiday risk these
Dubai: Financial advisors have said time and again that people should obtain an insurance before hopping on a plane to visit another country. However, a new research found that almost seven in ten UAE residents go on holiday or business trip without …
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Dubai Financial Market distributes AED15.8 billion of cash dividends in 2017
DUBAI, 25th June, 2018 (WAM) — As part of its leading investor and issuer services, Dubai Financial Market (DFM) has successfully accomplished the cash dividend distribution for the financial year 2017. As much as AED15.8 billion been disseminated to …
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Short term deposits decreased and long term deposits increased — Central Bank
Dubai: Money in circulation and short-term bank deposits in UAE have recorded a decrease by 3.3 and 0.7 per cent respectively during the last month of May, UAE Central Bank said in its monthly bulletin. The decrease, however, was overshadowed by a 0.4 per …
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Etihad to loan pilots to competing UAE airline Emirates
DUBAI, United Arab Emirates — Long-haul airline Etihad Airways will loan pilots to competing Dubai-based carrier Emirates under a new program, officials acknowledged Sunday, marking a rare co-operation between the two state-owned carriers who operate …
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JPMorgan to sell stake in Saudi Arabia bank for $203m
Dubai: JPMorgan Chase & Co plans to sell its stake in Saudi Investment Bank back to the Riyadh-based lender at a 24 per cent discount as it exits non-core holdings globally. Saudi Investment Bank signed an agreement to buy the 7.5 per cent stake …
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ADIB becomes first bank to join UAEIIC
Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has joined the UAE International Investors Council (UAEIIC), making it the first bank in the UAE to become a member in the council. This comes following an approval from the board of directors …
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