Adnoc hires banks for fuel retailer IPO: sources

ABU DHABI/DUBAI (Reuters) - Abu Dhabi National Oil Company (Adnoc ... First Abu Dhabi Bank, HSBC, Bank of America Merrill Lynch and Citigroup have been mandated for the IPO, sources familiar with the matter told Reuters. The sources declined to be named ... ( read original story ...)

Leading Dubai banks post strong set of first-half results

Dubai: Leading Dubai banks such as Emirates NBD (ENBD), Emirates Islamic (EI) and Dubai Islamic Bank (DIB) posted their first-half results on Wednesday, reporting strong operating performances supported by declines in costs, lower provisions and improved ... ( read original story ...)

Qatar’s $300 billion conundrum: how liquid are its reserves?

DUBAI/DOHA (Reuters) - When is $300 billion not enough? That question is key to Qatar's future as some bankers and hedge funds speculate the super-rich state's vast financial reserves may not be liquid enough to defend its currency in the long term. ( read original story ...)

UAE bank deposits decline by $7.25bn

Total bank deposits in UAE fell by 1.7 percent, or $7.25 billion (AED26.6bn), to $433bn (AED1.589 trillion) in June compared to May, the Central Bank said on Tuesday. Resident and non-residents deposits fell in June by AED24.2bn and AED2.4bn, respectively. ( read original story ...)

Dubai’s largest bank posts 6% rise in Q2 profit

Emirates NBD reported a 6 percent rise in its second quarter net profit on Wednesday. Dubai’s largest lender made a net profit of $550 million (AED2.2bn) in the three months to June 30, the bank announced this morning, up from the AED1.91bn it announced ... ( read original story ...)

Qatar: Alleged UAE hacking ‘unfortunate,’ violation of law

DUBAI, United Arab Emirates — Qatar, the tiny Gulf state being isolated by its neighbours, said Monday the reported involvement of the United Arab Emirates in hacking its government news site in May is “unfortunate” and a breach of agreements among ... ( read original story ...)

UAE bank launches app to enable fingerprint access to accounts

Abu Dhabi Islamic Bank (ADIB) has released a new version of its mobile banking app which enables customers to make cash withdrawals without the use of a card. Customers can also send money to a UAE mobile phone using the mobile to mobile payments ... ( read original story ...)

New scheme to boost UAE financial planning, cash forecasts

The UAE Ministry of Finance (MoF) and the Federal Authority for Government Human Resources have launched the first phase of the ‘e-link’ project between the financial planning system, the electronic federal budget, "Hyperion”, and the human resources ... ( read original story ...)