“Many hedge fund managers were unable to buy this company because of … Here’s what others are saying about Aramex: Ali El Adou, head of asset management at Daman Investments in Dubai: Stake sale “is …
( read original story …)
Dubai’s Aramex rallies as foreigners cheer Australia Post’s exit
Dubai-based Aramex was set for its biggest gain in more than … managing director at at Al Rajhi Investment in Riyadh. “Many hedge fund managers were unable to buy this company because of the foreign …
( read original story …)
UAE on EU tax blacklist because of poor communication, UAE banker says
“We need to reach out. I understand the reasons, and I’m sure the UAE will want to play as a global citizen,” Abdulaziz al-Ghurair, the banking group’s chairman, told reporters during a ba …
( read original story …)
UAE expects to reach deal with EU soon on tax-haven blacklist
said a senior UAE banking official. “I am sure this issue will be solved in the near future. I think it was due to lack of communication and lack of understanding. The EU will be approached and discus…
( read original story …)
EU adds UAE, Bermuda to expanded tax haven blacklist
EU finance ministers added 10 jurisdictions to the updated list. They are: the Dutch Caribbean island of Aruba, Barbados, Belize, the British overseas territory of Bermuda, Fiji, the Marshall Islands, …
( read original story …)
An Expat’s Guide to Banking in Abu Dhabi
Banking in the UAE is quite different from banking in western countries. An expat can find themselves in a confusing situation when trying to open an account in Dubai, Abu Dhabi, Sharjah or any of the …
( read original story …)
Rome vetoes UAE inclusion on EU tax haven blacklist
EU finance ministers will have to make a final decision on Tuesday over whether the UAE, which includes Dubai and Abu Dhabi, should be named as a tax haven. The commission has argued that the Gulf sta…
( read original story …)
The Debt Panel: ‘Can my bank use my gratuity payment to reduce my loan?’
I’ve heard that taking money to reduce debt is against the Central Bank of the UAE regulations. If this is the case, does it mean a bank cannot use a gratuity payment against an outstanding loan? I ha…
( read original story …)
UAE to start receiving applications for long-term residence visa for investors, entrepreneurs, innovators and talented expatriates
Deputy Ruler of Dubai and UAE Minister of Finance, Shaikh Nahayan Mabarak Al Nahayan, UAE Minister of Tolerance; Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future at the …
( read original story …)
UAE financial bodies launch passporting facility, enabling country-wide investment fund promotion
The UAE financial regulators have announced the launch of a new fund passporting facility to help promote investment fund in the country. In a statement, the Emirates Securities and Commodities Author…
( read original story …)
ADCB announces combined bank’s new board
In late January, they said their boards had voted unanimously in favour of the deal, which will create the third largest bank in the UAE. The transaction will create a robust platform to grow the bank …
( read original story …)
EU to add Bermuda to tax haven list, Italy blocks UAE listing
The draft list prepared by EU tax experts also includes the United Arab Emirates (UAE), a financial center for the Middle East, but Italy and Estonia are blocking its inclusion, the document shows.
( read original story …)
DIB wins big at Islamic Finance News Awards
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, received nine industry recognitions at the prestigious Islamic Finance News (IFN) Awards 2019. The bank was honoured once again with the …
( read original story …)
Dubai Islamic Bank recognized with nine distinctive honors at the 2019 Islamic Finance News Awards
The bank also won “Best Islamic Retail Bank”, “Best Islamic Bank (Kenya)”, in addition to top deals accolades which capped five landmark transactions. Held at the Ritz Carlton in DIFC, Dubai, on March …
( read original story …)
UAE economy to expand 3.5% this year buoyed by government measures, central bank says
The UAE’s gross domestic product is forecast to grow 3.5 per cent this year, up from 2.8 per cent in 2018, as government measures fuel economic growth, the central bank said. The non-oil GDP is projec…
( read original story …)
CW In Focus | Future planning with Sobha Group’s PNC Menon in Dubai
In this video, Menon speaks to Construction Week’s deputy editor, Oscar Rousseau, about Sobha Group’s IPO plans; the dream tower he intends to build on Dubai’s Sheikh Zayed Road as Sobha’s new HQ; and …
( read original story …)
Standard Chartered sees better profits in UAE, region
A man walks past a Standard Chartered Bank in Sharjah. Image Credit: Asghar Khan/Gulf News Dubai: Standard Chartered expects profitability of the bank’s UAE operations to improve along with the …
( read original story …)