Struggling British lender Lloyds Banking Group is in talks to dispose of its operations in the UAE, with Abu Dhabi Commercial Bank emerging as the frontrunner to pick up the business, sources told Reuters on Monday.
The bank, which is 40 p
Embattled European lenders are offloading parts of their Middle Eastern loan books to raise dollar liquidity, allowing regional banks to buy at a discount high-quality assets previously off limits to them, said sources.
Secondary loan mar
Dubai developer Emaar Properties is looking to sell two hotels in its Downtown Burj Dubai development, according to a report on Wednesday.
Arabian Business, citing unnamed sources, said on its website that the developer of the world's
The current market conditions provide ideal opportunity to liquefy non-core real estate to finance core business investments while attracting fresh capital to Dubai at the same time, said an expert.
'When access to cash is constrained
Non-Arab foreign investors were net sellers on Dubai's bourse for a second week, offloading Dh243.64 million ($66.32 million) of shares in selling that dragged Emaar Properties to a more than 40-month trough.
Foreigners sold Dh792.61 milli