The selloff came during a week when investors were rattled by the disappearance of journalist Jamal Khashoggi
Demand for business loans is set to rise further in Q4
The bank made a net profit of Dhs1.15bn ($313.1m) in the three months ending September 30
The scheme follows the implementation of a 100 per cent excise tax on tobacco products in October 2017
Alrafi left Dubai Holding in February
Abraaj’s provisional liquidation began earlier this year after controversy surrounding the use of investor money in a $1bn healthcare fund
ENBD will use part of the loan proceeds to refinance an existing $1.7bn term loan facility
The facility has been extended by two years and is now due in 2023
The proposed fund would have financed small to mid-sized projects in ICD member countries
The long-awaited law also provides for the central government to establish a Public Debt Management Office
The platform will allow people to buy, sell, and store digital currency
US officials said that bank did not comply with federal banking laws aimed at combating international money laundering and terrorist financing
It has already announced plans to expand its staff as it targets mandates in Saudi
The move reflects a desire by some of the fund’s other investors to sever ties with Abraaj
ESCA is drafting regulations for ICOs with international advisers
Oman has borrowed extensively in the international markets over the past few years to finance state spending
The bill is yet to be approved by the parliament’s upper house, which is expected to hold a similar session later this week
PIF bought the Al Ghadir plot at an auction of the property of late businessman Saleh Abdulaziz al-Rajhi
The merger is still subject to shareholder and regulatory approval
The rupee may touch 21 against the UAE dirham by the end of the year, says expert
A dirham yielded more than 20 rupees earlier this morning
FAB said the system can be used to make payments using regular cash registers
IPIC and Mubadala’s debt will sit under only one public investment vehicle
Yemen’s currency, the riyal, has lost more than half its value against the US dollar
The company said 2019 should mark the easing of three years of significant pressure on regional lenders
The deal is expected to involve the purchase of all or nearly all of the 70 per cent stake in SABIC held by the PIF
Reports claimed the Sharjah government was mulling the merger to create a bank with about Dhs66.2bn in assets
Saudi, the UAE, Bahrain, Kuwait and Qatar will enter JP Morgan’s emerging market government bond indexes next year
Three Abu Dhabi banks are also currently in talks to merge
Bahrain, Saudi and the emirates peg their currencies to the US dollar