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UAE-linked George Nader organised Arab leaders to replace GCC
A Lebanese-American businessman with close ties the United Arab Emirates crown prince organised a meeting of … that would supersede the Gulf Cooperation Council, according to a news report. George Nader’s name has surfaced in recent weeks as a key …
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ICC World Cup Qualifiers 2018: Rashid spins Afghanistan to victory over UAE
HARARE: Rashid Khan took a big leap towards becoming the quickest bowler to 100 ODI wickets when he grabbed his fourth five-wicket haul as Afghanistan overcame a top-order batting collapse to prevail over the United Arab Emirates in a Super Six fixture of …
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Dubai Investments to set up $100m Islamic bank in DIFC
Dubai Investments, a diversified company in which Investment Corporation of Dubai, the emirate’s sovereign wealth fund has an 11.54 per cent stake, is leading a group of investors who will set up a $100 million Islamic bank that will list on Nasdaq Dubai.
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Risk and funding costs weigh on UAE banks
according to the latest UAE Banking Pulse report from Alvarez & Marsal (A&M), a global professional services firm. Data for the last quarter of 2017 showed a rise in costs and lower loan growth, moderating profitability of top 10 UAE banks by assets.
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Dubai ‘best city’ for expats in Middle East, survey says
Dubai: Dubai has ranked the best city for expats in the Middle East and Africa, according to Mercer’s 20th Quality of Living Survey. Dubai ranks 74th globally in overall quality of living, making it the number one city in the Middle East and Africa …
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Dubai’s Emaar enters $8.2bn partnership with Abu Dhabi’s Aldar
Dubai’s Emaar Properties has entered into a partnership with Abu Dhabi’s Aldar to develop UAE and global real estate projects worth Dhs30bn ($8.18bn). The deal was announced on Twitter by state media agency WAM before being confirmed by UAE Vice …
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UAE bank loans and deposits forecast to rise in 2018
Loan growth will increase in the UAE this year as the country’s macroeconomic outlook improves and infrastructure investment creates new opportunities, according to a new report from BMI Research. According to the report, deposits will also rise, as …
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Mashreq Bank Drives Innovation With Alipay Payment Partnership
Mashreq Bank, the UAE’s leading financial institution, today announced its partnership with Alipay, the world’s largest online and mobile payment platform operated by Ant Financial Services Group. This, first-of-its-kind association with Alipay …
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Qatar asks U.S. to investigate UAE bank for ‘financial warfare’
Qatar has asked U.S. regulators to investigate the US subsidiary of the largest bank in the United Arab Emirates, accusing it of “bogus” foreign exchange deals designed to harm its economy as part of a blockade by Gulf neighbors. The Central Bank of Qatar …
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UAE lender FAB denies Qatari allegations of currency manipulation
First Abu Dhabi Bank, the UAE’s biggest lender by assets, denied a media report stating allegations by Qatar that it attempted to undermine the country’s currency in a bid to harm its economy, as Doha’s standoff with neighbouring states continues.
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Noor Bank Receives ‘Generally Conforms’ Rating From UAE Internal Auditors Association
Noor Bank, a leading Shari’a compliant bank in the UAE, today announced that its Internal Audit function has received the “Generally Conforms” rating, which stands as the highest rating, following a quality assessment review by the UAE Internal …
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Qatar asks US to probe ‘financial warfare’ by UAE bank
Qatar has asked the US to investigate reports that the American subsidiary of the largest bank in the UAE is manipulating the Qatari currency to harm the country’s economy amid a diplomatic dispute with Saudi Arabia. The Central Bank of Qatar has sent a …
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India’s Axis Bank opens office in Sharjah
Axis Bank, India’s third largest private sector bank, has opened a representative office in Sharjah, United Arab Emirates. Shri Vipul, Consul General of India in Dubai, inaugurated the representative office. The representative office in Sharjah is the …
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Plans revealed to set up new Islamic bank in Dubai
Dubai Investments has announced plans to lead a consortium of investors to launch Arkan Bank, a wholesale Islamic financial institution with an initial paid-up capital of $100 million. The authorised share capital of Arkan Bank will be $500 million, the …
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65pc of Sharjah Waterfront City Phase One sold out
Sharjah Oasis Real Estate Developments, developer of Sharjah Waterfront City – the largest mixed-use masterplanned waterfront community in Sharjah, announced that 65 per cent of its Phase One – 321 villas on Sun Island – has been sold out. The master …
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VAT to have ‘limited’ impact on Dubai’s property sector
The recent introduction of value added tax (VAT) in the UAE is expected to have only a “limited” impact on Dubai’s real estate sector, according to the Federal Tax Authority (FTA) and Dubai Land Department (DLD). The UAE began implementing VAT at a …
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