DUBAI, June 11 Shares in Qatari banks fell in early trade on Sunday after the central bank of the United Arab Emirates ordered UAE banks to be wary of any accounts they hold with six Doha-based banks. In Dubai, the largest listed property developer …
( read original story …)
Emaar hires Goldman Sachs to manage IPO of real estate unit
The malls unit IPO raised about $1.58 billion in 2014 and is the largest share sale in the UAE in the past nine years, according to data compiled by Bloomberg. Emaar, listed on the Dubai Financial Market, announced plans to spin-off its real estate unit on …
( read original story …)
Expats lacked financial discipline those days
Sheikh Sultan was just 24 years old when we decided to start present Barjeel Geojit Securities LLC, the Indo-UAE joint venture in financial services. I have tremendous satisfaction for being instrumental in the formation of this joint venture, which has …
( read original story …)
UAE blacklist likely to squeeze liquidity of Qatari banks
Qatari banks have around 60 billion riyals ($16 billion) in funding in the form of customer and interbank deposits from other Gulf states, Chiradeep Ghosh, banking analyst at SICO Bahrain, said. But the United Arab Emirates central bank has ordered local …
( read original story …)
UAE central bank bars deals with Qatar-linked people, bodies on terrorism blacklist: state news agency
DUBAI The United Arab Emirates central bank has instructed local banks to stop dealing with 59 individuals and 12 entities with alleged links to Qatar and to freeze all their assets, the state news agency WAM reported on Friday. This came after Saudi …
( read original story …)
UAE to freeze accounts, financial holdings of terrorists, terror organisations
Banks and other financial institutions operating in the UAE have been instructed to search for and freeze any accounts or deposits or investments held by individuals or entities designated as terrorists or terrorist organisations stated on Thursday’s …
( read original story …)
Qatar central bank asks for forex data as capital outflows pressure riyal
DUBAI/DOHA Qatar’s central bank has asked commercial banks to provide it with detailed information on foreign exchange trading, banking sources told Reuters on Thursday as Doha’s diplomatic rift with other Gulf states put its currency under pressure.
( read original story …)
Emaar to launch IPO of real estate development business by November: Al Arabiya TV
DUBAI Dubai-based Emaar Properties EMAR.DU plans to launch the initial public offering (IPO) of its real estate development business by November, Emaar’s chairman Mohamed Alabbar told Al Arabiya TV on Thursday. Emaar, whose interests span hotels …
( read original story …)
Qatar debt rating downgraded by S&P as riyal hits 11-year low
DUBAI Standard & Poor’s downgraded Qatar’s debt on Wednesday as the riyal currency fell to an 11-year low amid signs that portfolio investment funds were flowing out of … which banks use to hedge against the risk of future moves in the spot rate, the …
( read original story …)
Terrorist financing at heart of Qatar crisis, says UAE minister
DUBAI Financial support for jihadists across the Middle East lies at the heart of Arab powers’ row with neighboring Qatar, an Emirati minister said on Wednesday, identifying three individuals his government wanted Doha to rein in. Saudi Arabia, Egypt …
( read original story …)
Emaar to offer 30 percent realty business in IPO on DFM
Significant gain seen for Emaar Properties shareholders as the global real estate company on Wednesday announced plans to list its UAE Real Estate development business on the Dubai Financial Market (DFM). The IPO will be the largest since the Emaar Malls …
( read original story …)
Emaar to IPO real estate business in Dubai
RELATED ARTICLES: Emaar launches virtual tours of its hotels in Dubai | Video: Emaar’s The Tower completes excavation work | Dubai Ruler visits Emaar’s The Tower ahead of pile capping Emaar Properties has announced plans to list its UAE Real Estate …
( read original story …)
Qatar banks dealt financing blow as Saudi-led alliance cuts ties
DUBAI: Qatari banks, already stretched by financing demands … chief investment officer of emerging market hedge fund Capricorn Fund Managers Ltd. “If it lasts more than a few days we are likely to see rapid increases in risk pricing.”
( read original story …)
Man cleared of embezzling Dh4m from Finance Ministry
Dubai: An accountant has been cleared of committing electronic fraud and embezzling Dh4 million from the UAE’s Finance Ministry after forging 453 e-dirham transactions. The 30-year-old Sudanese accountant, who worked for an outsourced company that deals …
( read original story …)
Emaar to IPO real estate development business in Dubai
DUBAI Emaar Properties EMAR.DU, the builder of the world’s tallest tower, plans to offer up to 30 percent of its United Arab Emirates real estate development business in what would be the first listing on the Dubai exchange in two and a half years.
( read original story …)
Emaar Properties UAE Real Estate IPO
… be the largest since the Emaar Malls IPO in 2014. Subject to market conditions, the company will offer up to 30 percent of Emaar’s UAE Real Estate Development business through a share offering on the Dubai Financial Market, DFM. The funds raised …
( read original story …)
Qatar stabilises on valuations, Dubai’s Emaar jumps on unit’s IPO plan
DUBAI, June 7 (Reuters) – Qatari shares that are members of global emerging market benchmarks helped stabilise the bourse in early trade on Wednesday, while Dubai’s Emaar Properties jumped on news it will launch an initial public offering of its local real …
( read original story …)