Dubai property giant Emaar is looking to raise as much as $1.5bn from the initial public offering of its domestic development arm on Thursday. The IPO of Emaar Development opens today, offering 20 per cent of the share capital at an indicative price range …
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Emaar Development expects to raise up to $1.5bn in Dubai IPO
Emaar Development, a unit of Dubai property firm Emaar Properties, has set an indicative price range for its initial public offering, which would value the deal at Dhs5.52bn ($1.5bn) at the top end of the range. This is the first major listing in Dubai …
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Emaar Development IPO seeks up to $1.5 bln in first major Dubai listing in 3 years
DUBAI, Nov 2 (Reuters) – Dubai’s Emaar Properties is looking to raise as much as $1.5 billion from the sale of shares in its development unit in Dubai’s first major listing since 2014. The assets of Emaar Development include 49 units in Dubai’s Burj …
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MIDEAST STOCKS-Gulf subdued, Emaar Properties edges up after unit’s IPO pricing
Proceeds of the IPO, and possibly other funds, are expected to be paid to Emaar Properties shareholders as a special dividend by the end of January. Fund managers and analysts said the price range appeared reasonable given Dubai’s sluggish real estate …
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Hackers move beyond banking to target cryptocurrency: study
Illustrating the fact that the traditional financial industry is also not safe, in the past few weeks, Group-IB has found that 228 bank accounts and nearly 2,000 credit cards have been compromised in the UAE alone, and an additional 5,738 account details …
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UAE Central Bank Governor Warns Against Use of Cryptocurrencies as a Medium of Payment
United Arab Emirates (UAE) Central Bank Governor Mubarak Rashid al-Mansouri has issued a warning to the public against the use of virtual currencies as a medium of exchange due to the lack of control. United Arab Emirates (UAE) Central Bank Governor …
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New law allows Dubai’s non-Muslims to write wills
Non-Muslims living in Dubai will be able to create a will under new laws issued by Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, UAE Vice President and Prime Minister. The law, which is applicable to the wills and assets of non-Muslims based in …
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Dubai Investments says Q3 net profit up 4.8% to $95m
Dubai Investments, listed on the Dubai Financial Market, has reported net profit of AED350 million ($95.2 million) for the third quarter, an increase of 4.8 percent over the same quarter last year. The company said net profit for the first nine months of …
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UAE interest rates are expected to rise, mirroring US policy
The US Federal Reserve is likely to raise rates further to tighten its monetary policy and the UAE Central Bank will have to follow suit because the dirham is pegged to the dollar, analysts said. “The current central bank rate is 1.5 per cent, which has …
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Emaar unit is said to plan IPO at premium of as much as 20%
Dubai: Emaar Properties PJSC is expected to offer shares in its United Arab Emirates development business at a 10 to 20 per cent premium to the unit’s net asset value, according to three people familiar with the plans. The lead managers on the initial …
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Emaar to end UAE’s IPO drought
But with Emaar IPO-ing a subsidiary, and with Dubai having prospered irrespective of oil pricing, the chances for a successful IPO is very optimistic. Hadi Khatib is a business editor with more than 15 years’ experience delivering news and copy of …
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UAE Ministry of Finance Expands E-Dirham System by Adding Health and Medical Sectors
The UAE Ministry of Finance (MoF) signed a membership document with the Medical Office of the Ministry of Presidential Affairs and two agreements with Abu Dhabi Health Services Company (SEHA) and the National Health Insurance Company (Daman) to join the e …
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Dubai Investments Reports Net Profit of Dh350 Million for Q3 2017
Dubai Investments, the leading, diversified investment company listed on the Dubai Financial Market, has reported net profit of AED 350 million for the quarter ending September 30, 2017, an increase of 4.8% over AED 334 million achieved during the same …
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Dubai’s DFM sees 1% fall in nine-month net profit
Dubai Financial Market Company on Monday announced a net profit of AED173.3 million for the first nine months of 2017, a 1 percent decrease compared to the same period of 2016. Net profit for the third quarter fell by 22 percent to AED27.7 million …
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UBF banking forum to focus on future of tech-based banking
… (UBF), a professional representative body comprising 48 member banks operating in the UAE, has released the full agenda on the Middle East Banking Forum. Currently in its fifth edition, the forum is a premier annual event for the region’s banking …
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UAE deposit growth surged as credit growth remained weak
Dubai: Deposits in the UAE’s banking system rose in September as credit growth continued to be anaemic, according to UAE Central Bank monetary data. Gross credit growth remained lacklustre in September at just 0.1 per cent month on month. This reflected …
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Dubai Multi Commodities Centre Offers Islamic Trade Finance Platform for SMEs
DMCC, one of the world’s leading free zones for trade and enterprise in Dubai, has signed an agreement with Dubai SME, an agency of Dubai Economy, to develop Sharia-compliant trade finance platform for the small and medium enterprises ( SMEs). The …
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