Dubai Investments unit signs $299m loan deal

Dubai Investments Real Estate Company (DIRC) has signed a Dh1.1 billion ($299.47 million) financing deal with First Abu Dhabi Bank (FAB) and Abu Dhabi Commercial Bank (ADCB) for its Mirdif Hills development in Dubai, UAE. DIRC is the real estate ... ( read original story ...)

Race on for Uae’s ‘Workplace of the Year’ Award

National Bank of Fujairah and Gulftainer, which is also competing for the Health & Safety Initiative of the Year award along with HLG Contracting, Dubai Islamic Bank and Khidmah. “Having a wellness initiative is one thing, however securing the support of ... ( read original story ...)

Mideast funds more positive on equities

Dubai: Middle East fund managers have become more positive ... and an absence of additional negative political events. The region’s banking sector is the top pick for one manager, who cited improving margins and “optimisation of funding costs ... ( read original story ...)

Gulf Petrochem Group closes US$150 million financing deal

Mr. Salah Mohammed Amin, Executive Vice President, Corporate Banking, Emirates NBD also added, "The positive response for this facility confirms the interest in key sectors in the UAE and the trust endorsed to Gulf Petrochem Group's strong financial ... ( read original story ...)

How this Dubai salesman defrauded bank of Dh180,000

Dubai: A salesman has been jailed for six months for defrauding a bank of Dh180,000 in personal loan and credit card using forged papers within two months. The 39-year-old Pakistani salesman approached the local bank’s Sudanese sales representative and ... ( read original story ...)

Why does Fintech matter to the financial services

Dubai: Fintech is a rapidly emerging industry that covers the overlapping space of technology with financial services. With the growing application of technology, financial services industry can no longer ignore this latest development. With the increasing ... ( read original story ...)

ADNOC seeks to reduce costs, explore joint ventures

ADNOC has emphasised that, un­like Saudi Aramco’s IPO slated for late next year that will sell ... manages 460 pet­rol stations and convenience stores across the United Arab Emirates. ADNOC said it expects the valua­tion of its retail subsidiary ... ( read original story ...)