The US Federal Reserve’s decision to maintain its monetary stimulus is expected to boost the the regional bond market.
Nikhil Das, a private banker, was found guilty of carrying out fraudulent transactions worth $8.4 million.
Abraaj’s exit in Daniel O. Mercado Centre was executed through a buy-back arrangement with the Mercado family.
Kazim, whose appointment is effective next Jan. 1, will replace current DIFC governor Abdullah Mohammed Saleh.
Dubai’s index falls one per cent to 2,641 points in early trade.
Dubai’s bourse rose 2.2 per cent to 2,666 points, its highest close since Aug. 26
The lender announced on Wednesday that it was boosting the limit on foreign ownership to 20 per cent.
The lender is currently in the process of delisting Tamweel from the Dubai Financial Market.
Foreign investors currently own only 1.9 per cent of the bank’s shares, as per DFM data.
NBF’s new entity will help facilitate expanding cross border flows between the UAE and China.
Arcapita’s plan will see it transfer its assets into a new holding company which will dispose of them over time to pay off creditors.
The Dubai-based bank is launching co-branded credit, debit and prepaid cards targeting the football club’s fans in the UAE.
Most UAE investors do not seek professional financial advice, finds new study.
The bank’s retail business in the UAE was sold to Abu Dhabi Commercial Bank in 2010.
Deutsche Bank and Citigroup Inc will advise on the planned flotation, two banking sources said.
The fast food chain is reportedly looking to offload around 25 per cent of its shares.
Most senior managers apply for jobs via the career portal on a company’s website, says study.
Limits on banks’ lending for residential mortgages are expected to be announced by the end of this year.
The payments were made under “advisory service agreements” linked to Barclays’ emergency fundraising with Qatari investors.
Total premiums underwritten in 2012 were Dhs26.8 billion, up 9.5 per cent over the previous year.
British lender Barclays decided to sell its retail banking business following a strategic review of UAE operations.
Many residents also expect their personal finances to reduce or remain unchanged in the next six months, finds survey.
The UAE’s banking sector has extended $42 billion in credit to the government and GREs since the 2008 crisis, says BofA.
Investcorp buys stake in Saudi-based Leejam, a health and fitness club company that operates the Fitness Time brand.
Trading was briefly halted after the developer failed to disclose the results of a board meeting.
The money will be used to repay “the most difficult debts” and regurgitate the economy, said Serbia’s deputy prime minister.
Goldman Sachs tried to follow HSBC in late 2011 with a $2 billion sukuk programme, but Islamic scholars and analysts questioned whether the bank was obeying religious principles.
While global trends are indicative of more countries offering citizenships, the UAE is not dependant on citizenships to attract investment.
Arabesque is due to open to investors in the first quarter of 2014 and will focus on value-based investment strategies.
Abdul Aziz Al Ghurair says new data body will highlight the number of debt-burdened consumers in the UAE.