Dubai: Shareholders of Adnoc Distribution … Sultan Ahmad Al Jaber, board chairman of Adnoc Distribution, said in a statement: “The initial public offering (IPO), and recently announced fourth quarter and 2017 full year results, illustrate that Adnoc …
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International investors see ways to buy into Saudi’s reform, even without an international Aramco IPO
Reluctance to do so could threaten the IPO,” Auberty added, noting additional pressure from insufficient domestic liquidity and competition from other established regional exchanges like Dubai’s.
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Exclusive: Uber’s Middle East rival Careem in talks on new funds – sources
DUBAI (Reuters) – Careem, Uber’s main [UBER.UL] ride-hailing … adding Careem may be looking to diversify ahead of a potential initial public offering (IPO). Careem has repeatedly said that a listing is eventually on the cards, but that it was not an …
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The Saudi Aramco Handbook – Everything You Need to Know About the World’s Largest IPO
Dubai leading here). There also will be active private distribution of paper representing holdings obtained from the IPO. The overriding consideration is liquidity. MbS will certainly have as a primary concern how much revenue can be gained from the float.
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Dubai traders in $200m scam sentenced to 500 years in prison
and global asset freezes are expected to continue in the UAE, India, Australia, Canada, British Virgin Islands and the US, while about 25 bank accounts have been emptied and frozen. “It sends a very strong message. Financial crime not only destroys the …
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Dubai SME expands Beehive finance deal
Dubai: The Mohammad Bin Rashid Fund for SME (MBRF), the financial arm of government agency Dubai SME, has expanded its partnership agreement with peer-to-peer lending platform Beehive. Under a Memorandum of Understanding (MoU) signed last year, MBRF will …
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Dubai’s Abraaj said to seek help over $1bn health fund concerns
The Dubai-based firm held talks last week with some of the investors … The Bill & Melinda Gates Foundation, the World Bank’s International Finance Corp. unit, CDC Group and Proparco Group had hired a forensic accountant to examine what happened to …
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Omniyat secures $40m financing for Dubai real estate project
Dubai-based developer Omniyat has $40 million in construction financing from Kuwait’s Burgan Bank for its twin tower project, The Sterling. Located in Dubai’s Burj Khalifa area, the Sterling will consist two towers – the East House and West House …
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Gold prices remain steady, 24k priced at Dh161.50 in Dubai
Dubai gold prices are Dh161.50 for 24-karat and 22-karat … Higher interest rates discourage the buying of non-interest-paying bullion, which is priced in dollars. Hedge funds and money managers slashed their net long position in COMEX gold in the …
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UAE throws open FDI gates for investors
Preliminary results from the International Institute of Finance say FDI inflows to the UAE rose to $11 billion (Dh40.39 billion) in 2017 and won a 22 per cent share of investments made in the Middle East and North Africa. Within a smaller geography …
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UAE’s Kanoo Group open to unit IPO and divestment of assets
The Kanoo Group, one of the UAE’s largest family conglomerates, may opt to sell shares in some of its units in the future and is currently sifting through its assets, an exercise that may lead to divestments as early as this year, the company’s …
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UAE’s Kanoo Group open to IPO and divestment of assets in future
The Kanoo Group, one of the UAE’s largest family conglomerates, may opt to sell shares in some of its units in the future and is currently sifting through its assets, an exercise that may lead to divestments as early as this year, the company’s …
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UAE bank offers loans of up to 20 times a client’s monthly salary
Emirates Islamic has announced that customers can now avail personal finance up to 20 times their salary for a limited period. The special promotion runs until May 8 when customers with salaries of AED7,500 and above can benefit, in addition to the option …
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Dubai Islamic Bank & Shahid Afridi Foundation Partner to Empower Underprivileged Communities in Pakistan
Dubai Islamic Bank Pakistan (DIB) and Shahid Afridi Foundation (SAF) join hands to work towards empowering underprivileged communities across Pakistan. This MoU will help to facilitate in enhancing the reach to the deprived sectors of the society by …
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UAE banks maintain robust performance
Banks in the UAE recorded a healthy profit growth of 4.6 per cent in 2017 while maintaining a close to zero revenue growth for the second year in a row, latest annual banking data shows. The revenue growth stagnation for the UAE banks stems from a tighter …
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48 Dubai govt employees tie knot in mass wedding
His Highness Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Chairman of Dubai Municipality on Tuesday night witnessed the ninth joint Mass Wedding celebrations of the employees of local departments in Dubai.
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Central Bank’s gold reserves expected to rise to 9m tonnes in 2018
Abu Dhabi: A report by the Ministry of Economy predicts that the gold reserves of the Central Bank of the UAE will increase to 9 million tonnes in 2018, a growth of 19.5 per cent, compared to 7.53 per cent in 2017. The majority of Central Bank’s holdings …
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