Monday 27 March 2017

ADIB launches new class of branch

Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has launched ADIB Express, a first of its kind class of digitally-enabled branch that combines the benefits of digital banking with a bespoke personalised service. The first branch, located in Dubai’s The Ranches Sou


DIFC issues public consultation on new companies law

The Dubai International Financial Centre Authority (DIFC Authority) has announced for public consultation a proposed new companies law. The aim is to enact legislation to boost the current DIFC Companies Law regime, in order to bring it in line with international best practice.


UAE personal loans increase to $95.27bn in Feb

The total volume of personal loans in the UAE increased to Dh349.9 billion ($95.27 billion) in February 2017, according to a UAE Central Bank report issued on Tuesday. The figure is an increase of 3 percent over January’s total loans. By providing personal and corporate fin


Lankan group secures $35m funding from ME banks

People’s Leasing & Finance, an industry leader in Sri Lanka, said it has successfully raised $35 million in funding from the Middle East market for supporting its general business development and growth.   The three-year US dollar Medium Term loan facility has been


Etisalat Academy hosts seminar on Blockchain technology

Etisalat Academy, a leading single-source provider of training and development solutions in the Middle East, is currently organising a seminar and workshop on the latest ‘Blockchain’ technology in Dubai, UAE.   The event which opened today (March 21) will run unt


UAE is new hub for entrepreneurs says report

The United Arab Emirates (UAE) is emerging as a new hub for entrepreneurs and startups, according to a report. The report, released by US-UAE Business Council and the Trade and Commercial Office of the UAE Embassy in Washington, DC, details how the UAE has long served as a magnet for r


Alkhabeer Capital posts 6pc growth in net income

Alkhabeer Capital, a leading asset manager specialising in alternative investments, said its total operating income for 2016 increased 16 percent to SR207 million ($55.20 million), while net income grew 6 percent to SR71 million ($19.20 million). The results mark the company&rsqu


Kuwait’s Warba Bank lists sukuk on Nasdaq Dubai

Shaheen Al-Ghanem, chief executive of Warba Bank, one of Kuwait’s leading banks, today rang the market-opening bell to celebrate the listing on Nasdaq Dubai of a $250 million Perpetual Tier 1 Basel III compliant capital sukuk. The sukuk instrument will further strengthen Wa


Asar helps Kuwait set up debut $8bn issue

Al Ruwayeh & Partners (Asar), a leading corporate law firm said it had acted as law counsel to Kuwait, acting through the Ministry of Finance and represented by the Kuwait Investment Authority, for the establishment of its Global Medium Term Note (GMTN) Programme and Kuwait's inaugural


Instability, oil price main concern for HNWIs

Political instability, conflict and threat of terrorism, along with a possible oil price decline are the primary concerns of high net-worth individuals (HNWIs) in the GCC region, according to a new study. For both the global and regional economies, most HNWIs feel the investors a

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