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Posts filtered by tags: United Arab Emirates[x]


 

#AbuDhabi Islamic Bank Said to Weigh Merger Amid M&A Wave - Bloomberg

Abu Dhabi Islamic Bank Said to Weigh Merger Amid M&A Wave - Bloomberg:Abu Dhabi Islamic Bank PJSC is weighing strategic options for its business, including a potential merger, according to people with knowledge of the matter.The United Arab Emirates’ second-biggest Islamic lender is in early talks with financial advisers about measures such as combining with a larger entity or buying a smaller institution, said the people, asking not to be identified as the discussions are private.Abu Dhabi Isla...
Tags: Travel, Bloomberg, United Arab Emirates, Rupert Neil Bumfrey, Abu Dhabi Islamic Bank, Abu Dhabi Islamic Bank PJSC, AbuDhabi Islamic Bank Said, Abu Dhabi Islamic Bank Said


Citigroup sees #Saudi, #UAE as top Mideast markets for deals this year - executive | ZAWYA MENA Edition

Citigroup sees Saudi, UAE as top Mideast markets for deals this year - executive | ZAWYA MENA Edition:Citigroup expects the majority of investment banking opportunities in the Middle East to come from Saudi Arabia and the United Arab Emirates this year, said Miguel Azevedo, Citigroup's head of investment banking, Middle East and Africa.The U.S. lender, which is working towards a full banking licence in Saudi Arabia, ended a five-decade presence in the kingdom in 2004 but in 2015 won permission t...
Tags: Travel, Saudi Arabia, Africa, Middle East, United Arab Emirates, Citigroup, Abu Dhabi, Reuters, Mideast, Azevedo, Saudi UAE, Rupert Neil Bumfrey, Miguel Azevedo Citigroup


UK approaches Gulf countries on post-Brexit trade pact - UAE minister | Reuters

UK approaches Gulf countries on post-Brexit trade pact - UAE minister | Reuters:Britain has approached the United Arab Emirates and other Gulf countries on a possible trade pact after Britain leaves the European Union, the UAE economy minister said on Monday.Such agreements can take years to negotiate, Sultan bin Saeed al-Mansouri said on a panel at the World Government Summit in Dubai. He gave no further details.Britain is due to leave the EU on March 29, but it has yet to find an agreement acc...
Tags: Travel, UK, Eu, European Union, Britain, United Arab Emirates, Dubai, Brussels, Uae, Gulf, Reuters, Sultan bin Saeed Al Mansouri, Rupert Neil Bumfrey


#Saudi Named in Report on Khashoggi Murder Becomes #UAE Envoy - Bloomberg

Saudi Named in Report on Khashoggi Murder Becomes U.A.E. Envoy - Bloomberg:The former head of a Saudi-owned broadcaster has been sworn in as the kingdom’s ambassador to the United Arab Emirates, days after the New York Times reported that Crown Prince Mohammed bin Salman had told him he might use “a bullet” on Jamal Khashoggi.Turki Aldakhil, who was previously general manager of Al Arabiya television, was sworn in by King Salman along with other new ambassadors, state-run SPA news agency reporte...
Tags: Travel, New York Times, United Arab Emirates, Times, Istanbul, Mohammed, Mohammed bin Salman, Salman, Al Arabiya, Rupert Neil Bumfrey, Khashoggi, Khashoggi Murder Becomes UAE Envoy Bloomberg, Jamal Khashoggi Turki Aldakhil, Aldakhil


#UAE Federal Bank to Sell Bond Following Passage of Debt Law - Bloomberg

U.A.E. Federal Bank to Sell Bond Following Passage of Debt Law - Bloomberg:A federal lender in the United Arab Emirates will be the first to utilize the country’s newly effective debt law by selling its first bond later this month, according to a senior government official.Emirates Development Bank, a state-owned institution that provides financing to citizens and small and medium-sized enterprises, plans a $750 million bond sale in February, its first debt issuance since the institution started...
Tags: Travel, United Arab Emirates, Dubai, Bloomberg TV, Rupert Neil Bumfrey, Al Khoori, Younis Al Khoori, Emirates Development Bank, U A E Ministry of Finance


#Bahrain to Focus on `Stringent Cost Controls' to Balance Budget - Bloomberg

Bahrain to Focus on `Stringent Cost Controls' to Balance Budget - Bloomberg:Bahrain, one of the oil-rich Gulf’s most vulnerable economies, will focus on “stringent cost controls” as it seeks cut its budget deficit and reduce interest costs while using investment to stimulate growth, the country’s finance minister said.The government trimmed the deficit by 35 percent last year as part of a plan to balance the budget by 2022, said Sheikh Salman bin Khalifa Al-Khalifa, minister of finance and natio...
Tags: Travel, Saudi Arabia, United Arab Emirates, Dubai, Bahrain, Gulf, Salman, Bloomberg TV, Rupert Neil Bumfrey, Balance Budget Bloomberg, Salman bin Khalifa Al Khalifa


#UAE's Mashreqbank hires banks ahead of dollar bond sale | ZAWYA MENA Edition

UAE's Mashreqbank hires banks ahead of dollar bond sale | ZAWYA MENA Edition:Dubai-based Mashreqbank has hired banks to arrange fixed income investor meetings ahead of a potential issue of five-year U.S. dollar-denominated bonds, a document issued by one of the banks showed on Thursday.Mashreqbank, the largest privately owned bank in the United Arab Emirates, will meet investors in the UAE, Europe and Asia, starting Feb. 10.BNP Paribas, BofA Merrill Lynch, Commerzbank, Mashreqbank, Nomura and So...
Tags: Travel, Asia, United Arab Emirates, Dubai, Uae, Societe Generale, Rupert Neil Bumfrey, UAE Europe, Mashreqbank


Venezuela sold 73 tonnes of gold to Turkey, #UAE last year: legislator | Reuters

Venezuela sold 73 tonnes of gold to Turkey, UAE last year: legislator | Reuters:Venezuelan President Nicolas Maduro’s government last year sold 73 tonnes of gold to Turkey and the United Arab Emirates without the required approval of the opposition-led National Assembly, an opposition legislator said on Wednesday.Of that total, Abu Dhabi investment firm Noor Capital bought the largest amount, 27.3 tonnes of gold, opposition legislator Carlos Paparoni told a news conference, without providing evi...
Tags: Travel, Turkey, United States, United Arab Emirates, Venezuela, Abu Dhabi, Nicolás Maduro, Reuters, National Assembly, Maduro, Rupert Neil Bumfrey, Noor Capital, Carlos Paparoni, Juan Guaido, Guaido, Paparoni


#UAE releases $496 million frozen funds, ending #Kuwait dispute | Reuters

UAE releases $496 million frozen funds, ending Kuwait dispute | Reuters:A dispute between Dubai and Kuwait appeared to have ended on Tuesday as the United Arab Emirates’ central bank authorized the release of $496 million which had been frozen at Dubai’s state-owned Noor Bank since late 2017.Cayman Islands-registered Port Fund, part of a Kuwaiti private equity group and holder of the account at Noor Bank, said the funds had been released. The UAE central bank and Noor Bank did not immediately re...
Tags: Travel, Philippines, United Arab Emirates, Dubai, Kuwait, Uae, Cayman Islands, Reuters, Noor Bank, Rupert Neil Bumfrey


DP World's #Dubai shipping container volumes drop 4.6% in fourth quarter | ZAWYA MENA Edition

DP World's Dubai shipping container volumes drop 4.6% in fourth quarter | ZAWYA MENA Edition:DP World reported a fall of 4.6 percent in fourth-quarter shipping container volumes in Dubai that the government-controlled port operator blamed on a drop in low-margin business.Dubai's Jebel Ali, the largest transshipment port in the United Arab Emirates, and Mina Rashid port account for about 20 percent of DP World's global volumes.The two ports handled 3.6 million 20-foot equivalent units in the thre...
Tags: Travel, United Arab Emirates, Dubai, DP World, Mina Rashid, Jebel Ali, Rupert Neil Bumfrey


Exclusive: #AbuDhabi expected to extend bailout loan to #Dubai, #UAE sources say | Reuters

Exclusive: Abu Dhabi expected to extend bailout loan to Dubai, sources say | Reuters:Abu Dhabi is expected to roll over for the second time $20 billion of debt, due next month, that it extended to Dubai during its financial crisis a decade ago, three sources familiar with the matter said.Dubai got the aid from the oil-rich capital of the United Arab Emirates in 2009 after the global credit crisis caused its real estate market to crash, threatening to force some state-linked companies to default ...
Tags: Travel, United Arab Emirates, Dubai, Abu Dhabi, Uae, Reuters, Dubai UAE, Rupert Neil Bumfrey, Abudhabi


Dubai Royal Family Office Backs Cryptocurrency Investor Invao - Bloomberg

Dubai Royal Family Office Backs Cryptocurrency Investor Invao - Bloomberg:Dubai royal and Emirates Group Chairman Sheikh Ahmed bin Saeed Al Maktoum is backing cryptocurrency fund manager Invao as the Liechtenstein-based firm seeks to attract more investors from the United Arab Emirates.Sheikh Ahmed’s private office will help Invao, which invests in cryptocurrencies and blockchain start ups, secure funding from investors in the Gulf state. The Private Office, as its known, makes its own investmen...
Tags: Travel, United Arab Emirates, Dubai, Ahmed, Liechtenstein, Gulf, Private Office, Ahmed bin Saeed Al Maktoum, Emirates Group, Frank Wagner, Rupert Neil Bumfrey, Invao, Bloomberg Galaxy Crypto Index


UAE Digital in 2019

This report (that is the latest collection of UAE digital 2019 insights by We Are Social & HootSuite) contains essential insights into how people in the United Arab Emirates use the internet, mobile devices, social media, and e-commerce. The post UAE Digital in 2019 appeared first on Dubai Digital Marketing Training & Consulting | SEO International Dubai.
Tags: Travel, Social Media Marketing, United Arab Emirates, Uae, Digital Marketing, Dubai Digital Marketing Training Consulting, UAE Digital


MIDEAST STOCKS-FAB elevates #AbuDhabi, COMI lifts Egypt | Reuters

MIDEAST STOCKS-FAB elevates Abu Dhabi, COMI lifts Egypt | Reuters:Abu Dhabi stock market rose sharply on Monday, buoyed by First Abu Dhabi Bank after it proposed an increase in the foreign ownership limit, while Egypt's blue-chip index was lifted by its top lender Commercial International Bank.The Abu Dhabi index gained for a third straight day, rising 1 percent to close at its highest sice Oct. 2014.The United Arab Emirates' largest lender First Abu Dhabi Bank jumped 2.3 percent to 15.34 dirham...
Tags: Travel, Egypt, United Arab Emirates, Abu Dhabi, Reuters, Rupert Neil Bumfrey, First Abu Dhabi Bank, AbuDhabi COMI, Abu Dhabi COMI, Commercial International Bank The Abu Dhabi


Abu Dhabi's FAB Surges as It Seeks More Foreign Investment - Bloomberg

Abu Dhabi's FAB Surges as It Seeks More Foreign Investment - Bloomberg:First Abu Dhabi Bank PJSC jumped on optimism the lender will follow regional peers and raise the foreign-ownership limit on its stock.The shares climbed in Abu Dhabi as much as 5.8 percent, the biggest increase since April 2017, before paring gains to 3.5 percent as of 12:29 p.m. local time. The ADX General Index added 1.6 percent. The United Arab Emirates’ biggest lender aims to raise the cap for foreign ownership to 40 perc...
Tags: Travel, Bloomberg, United Arab Emirates, Abu Dhabi, Rupert Neil Bumfrey, First Abu Dhabi Bank PJSC


MIDEAST STOCKS-FAB leads #AbuDhabi index higher, Saudi subdued | Reuters

:Abu Dhabi’s stock index led gains on Sunday, boosted by a surge in First Abu Dhabi Bank, while Saudi Arabia’s main market was buoyed by Al Rajhi Bank .First Abu Dhabi Bank, which last week said it had proposed increasing its foreign ownership limit to 40 percent from 25 percent, has now risen close to 50 percent since its creation in April 2017.The United Arab Emirates’ largest bank also beat analysts’ forecasts on Thursday with a 4 percent rise in fourth-quarter profit. [Author: [email protected]
Tags: Travel, Saudi Arabia, United Arab Emirates, Abu Dhabi, Reuters, Rupert Neil Bumfrey, First Abu Dhabi Bank, Al Rajhi Bank First Abu Dhabi Bank


#UAE Economy Starting to Recover From Lower Oil, IMF Says - Bloomberg

U.A.E. Economy Starting to Recover From Lower Oil, IMF Says - Bloomberg:Growth in the United Arab Emirates’ economy will accelerate to 3.7 percent in the coming year, from 2.9 percent in 2018, as it starts to recover from the slowdown caused by the oil-price slump, the International Monetary Fund said.Higher oil prices and OPEC’s decision to raise output had been a boost for the oil sector, while non-oil growth is estimated to rise to 3.9 percent this year and 4.2 percent in 2020, the IMF said a...
Tags: Travel, Washington, Opec, Bloomberg, United Arab Emirates, International Monetary Fund, Imf, Rupert Neil Bumfrey


Eni keeps foot on the gas in high-speed Gulf drive | Reuters

Eni keeps foot on the gas in high-speed Gulf drive | Reuters:In less than 12 months Eni CEO Claudio Descalzi has turned the Middle East from a sideshow to a strategic hub for the Italian energy major. And the shift is not over.Since last March the 63-year-old has clinched nine deals in the United Arab Emirates, gained a toehold in Bahrain and expanded in Oman to reshape the group’s future.In the latest deal on Sunday, Eni pledged $3.3 billion to buy part of the world’s fourth-biggest refinery in...
Tags: Travel, Middle East, United Arab Emirates, Oman, Bahrain, Uae, Gulf, Reuters, Eni, Claudio Descalzi, Rupert Neil Bumfrey


#UAE's Noor Capital says it bought 3 tonnes of gold from Venezuela | Reuters

UAE's Noor Capital says it bought 3 tonnes of gold from Venezuela | Reuters:Abu Dhabi investment firm Noor Capital said on Friday that it bought 3 tonnes of gold on Jan. 21 from Venezuela’s central bank, at a time when President Nicolas Maduro is seeking to keep his crisis-stricken government solvent.Noor Capital said in a statement it would refrain from further transactions until Venezuela’s situation stabilizes and its purchase was in accordance with “international standards and laws in place”...
Tags: Travel, United Arab Emirates, Venezuela, Abu Dhabi, Nicolás Maduro, Uae, Reuters, Rupert Neil Bumfrey, Noor Capital


#Saudi- #UAE business forum kicks off in Riyadh

Saudi-UAE business forum kicks off in Riyadh:Saudi Arabia’s minister of commerce and investment has praised relations with the United Arab Emirates during the second Saudi-UAE Business Forum which kicked off on Thursday in Riyadh.Majid bin Abdullah Al-Qasabi stressed that distinguished relations in all fields between Saudi Arabia and the UAE derive their strength from brotherly ties between the two countries and their leaderships.“The vision of the two brotherly countries seeks sustainable devel...
Tags: Travel, Saudi Arabia, United Arab Emirates, Uae, Riyadh, Rupert Neil Bumfrey, Riyadh Majid, Abdullah Al Qasabi


First Abu Dhabi Bank to raise foreign shareholder limit | Reuters

:First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates, beat analysts’ forecasts with a 4 percent rise in fourth-quarter profit on Thursday and said it planned to raise its foreign ownership limit.FAB said it proposed to its board increasing its foreign ownership limit to 40 percent from 25 percent, the latest Abu Dhabi bank hoping to attract foreign investors after Abu Dhabi Islamic Bank lifted its foreign ownership limit to 25 percent in November.After a mixed year for UAE s...
Tags: Travel, United Arab Emirates, Abu Dhabi, Uae, Reuters, Rupert Neil Bumfrey, Abu Dhabi Islamic Bank, First Abu Dhabi Bank


Biggest U.A.E. Bank Posts 10% Increase in Profit on Forex Gains - Bloomberg

Biggest U.A.E. Bank Posts 10% Increase in Profit on Forex Gains - Bloomberg:First Abu Dhabi Bank PJSC reported a 10 percent jump in full-year profit, meeting analysts estimates, as foreign exchange gains doubled and impairment charges dropped.The United Arab Emirates’ biggest lender recommended a dividend of 74 fils a share. That compares with 70 fils for 2017. [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, United Arab Emirates, Rupert Neil Bumfrey, First Abu Dhabi Bank PJSC, Forex Gains Bloomberg


Emirates Global Aluminium secures $6.5bln loan | ZAWYA MENA Edition

Emirates Global Aluminium secures $6.5bln loan | ZAWYA MENA Edition:Emirates Global Aluminium (EGA), one of the largest industrial companies in the United Arab Emirates, said on Thursday it had secured a $6.5 billion seven-year loan from a group of international and regional banks to refinance part of its debt. The loan refinances an existing $4.9 billion debt facility agreed in December 2015 and will also be used to fully repay a $1.8 billion loan raised by EGA's subsidiary Dubai Aluminium."Bui...
Tags: Travel, United Arab Emirates, Dubai, Rupert Neil Bumfrey, EGA, Emirates Global Aluminium, Emirates Global Aluminium EGA, Danny Dweik


MIDEAST STOCKS-Dubai Islamic drags #Dubai, Global Telecom lifts Egypt | Reuters

MIDEAST STOCKS-Dubai Islamic drags Dubai, Global Telecom lifts Egypt | Reuters:Dubai's stock market fell sharply on Wednesday, hurt by a fall in Dubai Islamic Bank, while Egypt rose, partly lifted by Global Telecom Holding rising on the prospect of going private.The Dubai index dropped 1.1 percent, with Dubai Islamic Bank, the largest Islamic lender in the United Arab Emirates, sliding 4.4 percent in heavy trade, its biggest intra-day loss in nine months.The bank reported a 15 percent rise in fo...
Tags: Travel, Egypt, United Arab Emirates, Dubai, Reuters, Rupert Neil Bumfrey, Dubai Islamic Bank, Marwan Shurrab, Global Telecom Holding, Dubai Global Telecom, AlRamz Capital


The Middle East's Once-Hot LNG Market Faces a Decade-Long Slump - Bloomberg

The Middle East's Once-Hot LNG Market Faces a Decade-Long Slump - Bloomberg:The Middle East was a bright spot for global liquefied natural gas demand in 2015. Now imports have plummeted so much that it could take a decade to recover.Last year’s 37 percent slump and the prolonged negative outlook is in contrast to the region’s two-year LNG demand surge that outpaced global growth, according to BloombergNEF and ship-broker Poten & Partners Inc. data. The Middle East is now expected to make up less...
Tags: Travel, Bloomberg, Middle East, United Arab Emirates, Rupert Neil Bumfrey, Poten Partners Inc, Egypt Kuwait Jordan, Israel of LNG, Middle East Bahrain


MIDEAST STOCKS-ADCB-UNB merger weighs on #AbuDhabi, #Saudi inches up | Reuters

MIDEAST STOCKS-ADCB-UNB merger weighs on Abu Dhabi, Saudi inches up | Reuters:Saudi Arabia’s stock market rose on Wednesday, bolstered by petrochemicals, while Abu Dhabi was pulled down by Union National Bank and Abu Dhabi Commercial Bank after announcing a three-way banking merger.Abu Dhabi’s index slid 0.5, with Abu Dhabi Commercial (ADCB) Bank losing 2 percent and Union National Bank (UNB) dropping 4.5 percent to its biggest intraday loss since May 2017.ADCB, UNB and Al Hilal Bank agreed a me...
Tags: Travel, Saudi Arabia, United Arab Emirates, Abu Dhabi, Reuters, Abu Dhabi Commercial Bank, Rupert Neil Bumfrey, Union National Bank UNB, Union National Bank, Al Hilal Bank, ADCB UNB, Abu Dhabi Commercial ADCB Bank


Three #AbuDhabi lenders agree to merge, creating a $114 billion bank | Reuters

Three Abu Dhabi lenders agree to merge, creating a $114 billion bank | Reuters:Abu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank said on Tuesday the banks have agreed on a three-way merger, creating the third-largest bank in the United Arab Emirates.Under the deal, ADCB will issue 0.5966 shares for every UNB share, corresponding to a total of 1.64 billion new shares issued to UNB shareholders. The exchange ratio implies a premium to UNB shareholders of 0.6 percent versus the closi...
Tags: Travel, United Arab Emirates, Abu Dhabi, Reuters, UNB, Rupert Neil Bumfrey, ADCB, Al Hilal Bank, Abu Dhabi Commercial Bank Union National Bank


#UAE accuses #Qatar of banning its products, files WTO complaint | Reuters

UAE accuses Qatar of banning its products, files WTO complaint | Reuters:The United Arab Emirates has filed a complaint against Qatar at the World Trade Organization saying Doha has imposed a ban on Emirati products, UAE state news agency WAM said on Tuesday.The UAE, Saudi Arabia, Bahrain, and Egypt have imposed a diplomatic, trade and transport boycott of Qatar since June 2017 over allegations Doha supports terrorism, a charge Qatar denies.Qatar filed in July 2017 a wide-ranging legal complaint...
Tags: Travel, Wam, Qatar, Egypt, World Trade Organization, United Arab Emirates, WTO, Bahrain, Doha, Uae, Reuters, Rupert Neil Bumfrey, UAE Saudi Arabia, UAE Saudi Arabia Bahrain


ADCB's chairman, CEO to fill top positions in new Abu Dhabi merged bank-sources | ZAWYA MENA Edition

ADCB's chairman, CEO to fill top positions in new Abu Dhabi merged bank-sources | ZAWYA MENA Edition:Abu Dhabi Commercial Bank's chairman and chief executive will fill the top positions within the company to be created after the merger with Union National Bank UNB.AD and Al Hilal Bank, three sources aware of the merger said.ADCB is the largest bank within the three-way tie-up, which could form a bank with around $113 billion in assets and become the third largest lender in the United Arab Emirat...
Tags: Travel, United Arab Emirates, Abu Dhabi, Ala, Abu Dhabi Commercial Bank, Rupert Neil Bumfrey, ADCB, Union National Bank UNB, First Abu Dhabi Bank, Al Hilal Bank, Eissa Mohamed al Suwaidi


#Saudi, #UAE Loans to Help Pakistan Avert Financial Crisis - Bloomberg

Saudi, U.A.E. Loans to Help Pakistan Avert Financial Crisis - Bloomberg:Pakistan received $1 billion from Saudi Arabia Friday, a day after the United Arab Emirates deposited the first installment of a $3 billion financial support package aimed at helping the South Asian nation tide over a balance-of-payment crisis.The U.A.E. transferred $1 billion as part of an agreement between Pakistan and the Abu Dhabi Fund for Development this month, the central bank said in a statement on Twitter Thursday. ...
Tags: Travel, Saudi Arabia, Pakistan, United Arab Emirates, Riyadh, KARACHI Pakistan, South Asian, Rupert Neil Bumfrey, Abu Dhabi Fund for Development, Mohammed Sohail, Topline Securities Pakistan Ltd



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