Wednesday 26 February 2020

GFH marks listing of $300m sukuk on Nasdaq Dubai

Jassim Alseddiqi, chairman of GFH Financial Group (GFH), rang the market opening bell today (February 25) at Nasdaq Dubai to celebrate the listing of the Group’s $300 million Sukuk on the region’s international exchange. The Sukuk is a landmark achievement for GFH as


Mubadala to commit to Bpifrance’s LAC I Fund

Mubadala Investment Company, a leading sovereign wealth fund in the UAE, has signed an agreement with Bpifrance, the French national investment bank, committing to the LAC I Fund, a multibillion fund managed by Bpifrance. The fund targets to raise €10 billion which will be i


NBC signs incubation pact with Dakkah Engineering

Oman’s National Business Centre (NBC), an initiative launched by the Public Establishment for Industrial Estates – Madayn, has signed an incubation agreement with Dakkah Engineering Services, a leader in training services. Oman’s National Business Centre (NBC),


UAE expats lacking in post-retirement security: study

Nearly half (45 percent) of expat employees in the UAE either have no plans to ensure an adequate standard of living after retirement or plan to work beyond the retirement age to ensure continued income, a report said. The study titled ‘2020 UAE Security and Savings’


Failure to understand risk impeding corporate growth

The failure by senior managers to understand how risk management enhances corporate decision-making means many organizations based in Mena are not fully capitalizing on growth opportunities, a report said. Although almost half (47 per cent) of senior business leaders believed the


Marakeb and Fincantieri sign MoU

Marakeb Technologies, a leading autonomous technology provider, and Fincantieri, one of the world’s largest shipbuilding groups, signed a Memorandum of Understanding in order to explore global collaboration opportunities in the field of autonomous technology.   


PraxisIFM manages end-of-service benefit system

PraxisIFM, a financial firm licensed at Abu Dhabi Global Marketplace, is helping to manage the end-of-service benefit system in the UAE.   PraxisIFM now has under management $100 million of funds that UAE entities have ring-fenced for gratuity payments to staff


UAE leading $2.5bn Mena fintech market: experts

The UAE is leading the Mena region’s fintech market reaching a record-high of $2.5 billion by 2022, said industry experts ahead of the Middle East Financial Technology (MEFTECH) running on February 25 and 26 in Dubai, UAE. Regional and multi-national financial institutions


Sharjah Islamic 2019 net profit up 7pc to $148m

Sharjah Islamic Bank (SIB) has reported a net profit of Dh545.5 million ($148.5 million) last year, an increase of seven percent compared to 2018, when profits reached Dh510.4 million, a media report said. During the 44th General Assembly of the bank on Saturday, 10 percent of th


Expatriates in UAE remit $45bn in 2019

Expatriates’ remittances from the UAE amounted to some Dh165 billion ($45 billion) in 2019, a media report said, citing figures released by the Central Bank of the United Arab Emirates. The fourth quarter (Q4) of last year saw an increase of 1.8 per cent over the comparable

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