Dubai: A bank branch manager has been jailed for five years and fined Dh26 million for embezzling an equivalent amount from a businessman using deceptive methods and forged documents over four years. The Emirati branch manager and his countryman …
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Dubai Islamic Q1 profit surges 16pc to $330m
Dubai Islamic Bank, the first Islamic bank in the world, has posted a net profit of Dh1.211 billion ($330 million) for the first quarter of 2018, up 16 per cent compared with Dh1.042 billion for the same period last year. Total income increased to Dh2.697 …
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Debate over $2tr Aramco IPO valuation hots up
David Hodson, Dubai-based expert in energy finance and managing director of BluePearl Management consultants, said: “There is always a lot of positioning around an IPO. With one this big and important, there are so many more moving parts. In particular …
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Exclusive – First Saudi Arabian-linked banks join al-Gosaibi debt settlement plan
DUBAI (Reuters) – Two Saudi Arabian-linked banks have become … Reuters was not able to confirm the buyer of the debt, but hedge funds and other traders specialising in distressed debt have shown an increased interest in the debt of AHAB and Saad in …
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Dubai’s DIFC launches new drive to attract Asian investment
Dubai International Financial Centre (DIFC … DIFC is also home to China’s four largest banks in terms of total assets – Bank of China, Agricultural Bank of China, ICBC and China Construction Bank Corporation. The new initiative also aim at offering …
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Dubai Islamic Bank’s first quarter net income surges, beating estimates
Dubai Islamic Bank on Wednesday reported a 16.4 per cent year-on-year jump in net profit, beating analysts’ estimates, as revenues climbed for the UAE’s biggest sharia-compliant lender by assets, on the back of higher income from fees and commission …
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Emaar weakness outweighs strong bank results on DFM
Weakness in Emaar Properties ahead of the annual general meeting outweighed better than expected results from Dubai Islamic Bank and Emirates NBD, resulting in more than 1 per cent losses on the Dubai index. Emaar Properties, which has the highest …
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KCB offers Kenyan diaspora in Australia and Dubai new banking incentives
NAIROBI, APR 18 — KCB Bank Kenya has stepped up its foray into Australia and Dubai to offer Kenyans in the diaspora a chance of taking part in the vibrant economic and investment opportunities back home. The bank kicked off a month long tour of Australia …
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Dubai poised to be global bloackchain leader
Highlighting his expectation on when the UAE will regulate the ICO, Yusup said, “The UAE is a global financial center and ICOs are the most successful global financial instrument over the past two years. In 2017 token sales raised nearly $4 billion and …
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$4.2bn of cheques bounced in the UAE during Q1
according to the UAE Central Bank. From January to March, cheques worth AED15.7 billion bounced, accounting for 4.3 percent of the total value, state news agency WAM reported. It added that March registered the highest amount of cheques processed through …
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Dubai Financial Market : UAE bourses await launch of Cityscape Abu Dhabi
Dubai – Mubasher: The UAE bourses are likely to see more buying on real estate stocks on Tuesday, in line with the launch of Cityscape Abu Dhabi 2018, analysts told Mubasher. The Dubai Financial Market (DFM) closed Monday’s trading session 0.3% down at …
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Revealed: why UAE residents are losing confidence in their finances
Almost half of UAE residents are less confident about their financial health than they were 12 months ago, according to a new survey. The quarterly Consumer Confidence Tracker from yallacompare, the Middle East comparison site, revealed that 42.9 percent …
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Half of UAE residents less sure about financial health
Almost half of UAE residents are less confident about their financial health than they were 12 months ago, but remain more confident about their prospects in the UAE than anywhere else, said a new report. The quarterly Consumer Confidence Tracker from …
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Dubai-based firm launches commodities-backed cryptocurrency
Freedium, a company establishing a presence at the Dubai Multi Commodities Centre (DMCC … volatile currencies and limited access to banking services. “Emerging and developing countries have a population of 6 billion people, represent 60 percent …
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UAE Leadership Supports Delivery of 281 Million Vaccines to Protect Children From Polio in Pakistan
UAE support also funded more than 5,000 committed full-time … the GPEI has reduced the global incidence of polio by more than 99 percent. The GPEI receives financial support from governments of countries affected by polio, private sector foundations …
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UAE residents less confident about finances as living costs rise
More than 40 per cent of UAE residents are less confident about their financial status than a year ago as concerns surrounding the cost of living and job security increase, according to a new survey. Comparison site Yallacompare’s consumer confidence …
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Bahrain VAT – lessons learned from KSA & UAE
The United Arab Emirates and the Kingdom of Saudi Arabia introduced Value … Camburn also said that “VAT is not only the finance’s responsibility, it involves also other functions such as purchase, sales, IT and legal teams, etc.
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