Dubai: Noor Bank, a Sharia-compliant institution, on Wednesday reported net profit of Dh676 million for 2018, before adjustments for property revaluations, marking a 74 per cent improvement in …
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Union National Bank continues to be a beacon of stable growth in the UAE
The consolidation of the UAE’s finance sector is helping to drive economic expansion in the country and beyond, with companies like Union National Bank employing innovative growth strategies for the g…
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Societe Generale is upbeat about the Middle East’s renewable energy finance market
“The UAE is leading the way, Saudi is progressing … The bank plans to expand its reach within the Middle East region as it looks for more opportunities to finance deals in markets such as Oman. It i…
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UAE banking outlook: Big four may struggle to match double-digit gains made in 2018
The four biggest banks in the United Arab Emirates – First Abu Dhabi, Emirates NBD, Abu Dhabi Commercial Bank and Dubai Islamic Bank – will struggle to repeat 2018’s double-digit profit increases as l…
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World Bank to set up UAE office at Abu Dhabi Global Market
The World Bank will set up its UAE office at Abu Dhabi Global Market, the capital’s financial hub, following the signing of an agreement at the World Government Summit in Dubai. The new bureau will se…
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No VAT charges on bank interest or dividends
Passively earned interest from bank deposits or dividend income cannot have VAT applied, the UAE Federal Tax Authority said on Tuesday. The government body said the income was “outside the scope of VA…
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World Bank to establish UAE office in Abu Dhabi Global Market
Dubai: The World Bank will be establishing its office in the Abu Dhabi Global Market (ADGM), the International Financial Centre on Al Maryah Island, it has been announced. An agreement to set up …
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Citigroup sees Saudi, UAE as top Mideast markets for deals this year: executive
ABU DHABI (Reuters) – Citigroup expects the majority of investment banking opportunities in the Middle East to come from Saudi Arabia and the United Arab Emirates this year, said Miguel Azevedo, Citig…
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Finablr to go public next month, to be listed on…
However, we don’t know the size of the IPO. We expect a very good response because we have a very good track record,” B.R. Shetty said on the sidelines of a conference in Dubai. He disclosed that JPMo…
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Abu Dhabi’s ADNOC inaugurates first service stations in Dubai
The celebrations come a month after the Dubai service stations were opened; a move that fulfilled one of ADNOC Distribution’s commitments as part of its IPO in December 2017. At the time the …
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Uber to introduce new lightweight app for Middle East
Dubai: Uber will soon launch its latest product … drive into the region ahead of its landmark initial public offering (IPO) later this year. Facing stiff competition from local rival Careem …
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Saudi Alhokair’s mall unit files for IPO, offering in second quarter: sources
Entornointeligente.com / DUBAI/RIYADH (Reuters … Arabian Centres Company, which has applied for an IPO with the Capital Market Authority, is eyeing a listing between April and June, said four source…
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Amanat names new chief executive as company eyes expansion
He launched Investcorp’s first Middle East-focused fund. In 2014, Amanat was created out of a greenfield IPO on the Dubai stock market. The company raised Dh2.5 billion, including from 37 prominent fo…
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Saudi Alhokair’s mall unit files for IPO, offering in Q2
DUBAI/RIYADH, Jan 21 (Reuters) – Saudi Arabia’sFawaz Alhokair Group plans to offer shares in its shopping malls business in Riyadh in the second quarter of this year, sources told Reuters on Monday. A…
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Approaching IPO, Lyft cautious about expanding beyond North America
Lyft, like Uber, filed for its IPO last December, but the government shutdown delayed … and in 2016 invested $350 million in Careem, a Dubai-based ride sharer. Lyft claims to be the biggest operator …
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MENA merger values climb 50% in 2018 – report
However, he predicted another fairly quiet year for the IPO market, citing “very, very low” levels of liquidity on many local stock exchanges. Data from Bahrain-based investment bank SICO shows that a…
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How personal finance education for children is gaining traction in the UAE
It is a Saturday, but instead of spending the day at the mall or beach, groups of 8 to 11-year-olds and teenagers are huddled in an office in Dubai’s Business Bay learning about personal finance. Topi…
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