Emirates NBD, a leading bank in the region, announced today the launch of a Green Auto Loan product in line with its commitment to support the UAE’s transformation into a low-carbon economy, as part of UAE Vision 2021. The Green Auto Loan has been …
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Dubai Financial Market : Dh5m investment drops to Dh123 in decade
Dubai: A client who deposited Dh5 million in two trust accounts with a UAE bank 10 years ago, recently sued the bank after discovering that his investment was now worth only Dh123. An accident had forced the client — a resident of a Gulf Cooperation …
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UAE's First Gulf Bank reports 11 pct fall in Q4 profit
DUBAI Jan 31 First Gulf Bank (FGB), Abu Dhabi’s third-largest lender by assets, reported an 11 percent fall in fourth-quarter net profit on Tuesday but narrowly beat analysts’ expectations. FGB, which is being merged with rival National Bank of Abu Dhabi …
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Emirates Bank for Volunteering established
Zayed Giving Initiative, ZGI, the UAE Societal Voluntary Programme, and Tadreeb National Training, Tadreeb, have signed an agreement to establish and manage the first specialised bank for volunteers. The bank will target volunteers across community …
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UAE Central Bank Board reviews Q4 Report for 2016
ABU DHABI, 31st January, 2017 (WAM) — The Board of Directors of the UAE Central Bank has reviewed the bank’s Q4 Report for 2016, which covered various banking related issues. The 1st meeting in 2017, held under the chairmanship of Khalifa Mohammed Al …
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Dubai To Open Up To Crowdfunding Platforms, As Part Of Fintech Push
The regulator of offshore financial hub the Dubai International Financial Centre (DIFC) is preparing to license loan-based crowdfunding platforms for the first time. The Dubai Financial Services Authority (DFSA) has begun a consultation process on its …
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DFM, ADX indices flat ahead of banks’ financial results
Dubai: The UAE’s main equity indices were relatively flat on Monday, one day before Abu Dhabi’s three biggest banks are set to disclose their financial results for 2016. The Dubai Financial Market (DFM) index inched up 0.34 per cent to 3,678.79.
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GCC bank profits expected to improve in 2017
Dubai: Profitability of Gulf Cooperation Council (GCC) banks are expected to improve this year after going through a slowdown last year according to banking industry analysts and rating agencies. “Earnings in GCC may show a growth of 5.9 per cent 2017 …
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Alternatives thrive as UAE investors cast nets wide
Dubai: The 30-year bond rally as well as a US equity market … Alternative investment strategies offer a wide range of possibilities — from commercial real estate, hedge funds, private equity, private placement debt to trade finance.
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Market permitting, Dubai Investments plans IPOs in 6-9 months -CEO
which is 60 percent owned by Dubai Investments, was working as a financial adviser on the listing, he said. “When we are positive on the market, then we can go to the Emirates Securities and Commodities Authority (ESCA) for approval for the IPO,” said Kalban.
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UAE residents found it harder to get loans in 2016 – report
The number of UAE residents applying for personal loans dropped in 2016, but it was harder for those who applied to get their loans approved, according to a new report. The report by financial comparison site compareit4me.com found that the number of …
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UK financial regulator acts on pension scam fears
The UK financial regulator is looking to crack down on domestic and international pension transfers in a move that could give added protection to British investors in the UAE. The Financial Conduct Authority (FCA) has issued an alert over the growing …
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UAE ship finance – a difference of opinions
The great and the good of the UAE shipping industry came together in Abu Dhabi at the fourth UAE Summit of Marine and Maritime Leaders this week with the subject of finance and the availability of funding dominating much of the proceedings. In the opening …
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Saudi Aramco selects U.S. firms to audit its reserves for IPO: sources
DUBAI/KHOBAR, Saudi Arabia/LONDON State oil giant Saudi Aramco [IPO-ARMO.SE] has tasked two U.S. industry leaders in oil reserves auditing to review the content of its deposits as it pushes ahead with a share listing next year, industry sources said on …
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Dubai Islamic Bank Q4 net profit rises 58.4 per cent
Dubai Islamic Bank (DIB), the United Arab Emirates’ largest sharia-compliant lender, posted a 58.4 percent increase in fourth-quarter net profit on Wednesday, beating analysts’ forecasts by a considerable margin. The bank made AED1.37 billion ($373 …
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Mashreq Bank posts $520m profit
Dubai-based Mashreq Bank reported a net profit of Dh1.9 billion ($520 million) for the year ending on December 31, 2016. Witnessing a stable growth, Mashreq’s operating income rose 3.2 per cent year-on-year to Dh6.2 billion driven by strong growth in net …
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Dubai Islamic Bank profit up 6pc to $1.1bn
Dubai Islamic Bank (DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, posted a net profit of Dh4.05 billion ($1.10 billion) for the year ended December 31, 2016, up 6 per cent compared with Dh3.839 billion …
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