The bank’s chief operating officer, Sandeep Chouhan, has been appointed acting CEO
Reward points can be exchanged for cash which will be deposited into the customer’s Samsung Money by SoFi account
The sovereign fund has spent billions of dollars this year buying equities, including stakes in BP, Boeing, Citigroup and Facebook
Banks are trying to find ways to accommodate growing investment demands from cash-rich clients
UAE Exchange, which operates more than 100 branches across the country, stopped all transactions in March
An interest-free loan programme for military personnel which covers 20 per cent of a property will be suspended from May 31
As the pandemic forced factories all over the world to shutter and people to stay home, the global economy has plummeted and oil prices have dropped by almost half since the start of the year
High unemployment, lack of progress in reducing carbon emissions and exacerbated inequalities are all possible side effects of the pandemic
The fall in oil prices has put a strain on the finances of Middle Eastern energy-producing countries
PIF is in need of capital as it embarks on an investment spree that has seen it build stakes in some of the world’s largest companies since the start of the coronavirus pandemic
The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis, its governor said in April
Although the Covid-19 situation is straining financial institutions, banks have a major role to play in keeping economies buoyant during the current crisis and beyond
Aramco is weighing pushing out payments for the 70 per cent holding in SABIC and reducing the size of the initial installment to PIF
Its net loans stood at Dhs247bn and customer deposits at Dhs263bn as of the end of Q1 2020
Kuwait imposed a 24-hour curfew on Friday for the next 20 days to contain the spread of the pandemic
Last week, the company acquired 30 per cent of shares in National Petroleum Construction Co. it didn’t already own
The comparison website accounts for more than 75 per cent of online insurance transactions in the UAE
Last year, Kuwait Finance House offered to buy Ahli United Bank in an all-share deal that was valued at about $8.8bn
The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis
The funds will be used to support 6,000 businesses in their financing needs
The London-listed company, Finablr, had a market value of GBP77m when it was halted from trading in March, down from a peak of GBP1.5bn in December
While there remain pockets of opportunity, investors should ensure they have sufficient liquidity right now, stresses Vijay Valecha, chief investment officer at Century Financial
The sovereign wealth fund is estimated to have about $580bn under management
Waha Capital posted a loss of Dhs616m for 2019
ADQ assumed complete ownership of NPCC after acquiring 30 per cent shares previously held by Consolidated Contractors International Company
Lenders warned that it’s still too early “to determine the size and extent of the financial impact at this stage”
Meanwhile, the value of total assets of the UAE’s largest bank rose 14 per cent to Dhs835bn
Nearly 65 per cent of British Business Group members say they need more clarity on the UAE government schemes available to them
The emirate raised Dhs1bn through a private placement of eight-year Islamic bonds at a rate of 4.71 per cent earlier this month