Under IPO rules in Hong Kong a deluge of orders from retail investors reduces the portion that fund managers can buy …
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Ski Dubai in collaboration with Dubai Sports Council to host one of the world’s first snow sports competition following COVID-19 closures
The inaugural event will be one of the first snow sports competition in the world to be held with social distancing measures in place …
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UAE launches start-up operations at first nuclear power plant
The United Arab Emirates has begun start-up operations in the initial unit of its first nuclear power plant, the Emirates Nuclear Energy Corporation (ENEC) said on Saturday. The Barakah nuclear power …
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Impairments and margin squeeze hurt first half profits of UAE banks
UAE banks in the first half of 2020. In addition, a sharp contraction in interest margins resulting from low interest environment too have hurt the profitability of banks. Despite the reopening of the …
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Video: UAE leaders celebrate Eid Al Adha with Mars Hope probe mission team
The UAE’s leaders celebrated the first day of Eid Al Adha with the Emirates Mars Mission team on Friday. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the …
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Dubai Bank Can’t Offset Costs Order In $430M Debt Suit
Dubai Islamic Bank PJSC cannot offset money it owes after losing a jurisdictional challenge against a jailed British expat’s lawsuit seeking to fight a $430 million fraud judgment, a London judge …
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HashCash Collabs with UAE Retailer to Enable Low-Touch Shopping Experience
As industries gradually shift towards automation to minimize the manual way of doing things, HashCash is helping UAE based leading retailer to reform their present operational and business set-up …
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Sanjeev Gupta’s bank faces potential losses over failed commodities trader
A bank owned by British industrialist Sanjeev Gupta faces tens of millions of pounds in potential losses, after providing more than $100m of funding to a Dubai-based rice trader that recently …
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UAE e-Gift Card Industry Outlook, 2020-2024
The “United Arab Emirates Digital Gift Card (e-Gift Card) and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) – Market Size and Forecast (2015-2024) – COVID-19 Update Q2 2020” …
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UAE oil trader GP Global uncovers fraud among employees – letter
United Arab Emirates-based oil trader GP Global has uncovered fraud within the company and filed criminal complaints against some of its employees, its legal representative said in a letter to the …
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SIM swap fraud: UAE bank told to reimburse customer’s life savings of Dh4.7 million
Expert report holds bank responsible for the financial loss, says lawyer Dubai: The Dubai Court of Appeal has upheld a judgment which held a local bank responsible for a Dh4.7 million SIM card swap …
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Credit Suisse Hiring Morgan Stanley Dubai Banker Luthra
Credit Suisse Group AG is hiring Morgan Stanley dealmaker Tara Luthra to help expand its investment banking operations in the Middle East, according to people familiar with the matter.Luthra will …
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UAE support helps 272k bank customers
More than 272,000 customers of banks, including 260,000 individuals and 9,527 SMEs have benefitted from the AED50 billion ($13.61 billion) Targeted Economic Support Scheme provided by the UAE’s …
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UAE- National economy is strong and resilient to overcome crises: Al Khoori
Secretary of Ministry of Finance, has said that the UAE has proven itself to be a model to the world when it comes to dealing with the novel coronavirus, Covid-19, thanks to the guidance of the …
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UAE businesses explore Panama’s competitive advantages
Recent Dubai Chamber webinar attended by Panamanian Minister of Private Investment and 58 public and private sector stakeholders from the UAE and abroad …
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First Abu Dhabi Bank joins Middle East lenders in raising provisions
Banks in the Gulf region are raising provisions to offset an expected increase in sour loans due to the twin shock of plunging oil prices and the coronavirus fallout …
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Gold price surge blessing in disguise for Indonesia
The recent surge in gold prices could be a boon for Indonesia, despite the economic risks that loom behind the spike in demand for the safe haven commodity. The price of bullion touched its highest …
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