Banking & Finance

Banking & Finance

Middle East funds say bullish on stocks, but split on Kuwait

Middle East fund managers are strongly positive toward fixed income in the region because of expanding international bond issuance and they also plan to increase their equity holdings, a monthly…

 
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Banking & Finance

French firm plans Abu Dhabi base for Sharia-compliant aircraft finance

French investment and financial services firm Natixis is working on setting up an aircraft investment platform in Abu Dhabi Global Market (ADGM), a financial free zone, offering Sharia-compliant financing options,…

 
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Banking & Finance

Union National Bank Q4 profit up 29%

Union National Bank, 50 percent owned by the Abu Dhabi government, on Tuesday posted a 29 percent rise in fourth-quarter net profit, missing analysts’ forecasts. The fifth largest lender in…

 
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Banking & Finance

Date set for launch of UAE’s new $181bn mega bank

The merger of the National Bank of Abu Dhabi and First Gulf Bank will be official from April 1, with shares in the new company trading from the next day,…

 
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Banking & Finance

Dubai’s Shuaa Capital actively looking at acquisitions

Shuaa Capital is working on a bolt-on acquisition of a financial services company based in the United Arab Emirates as part of the investment bank’s growth plans, chairman Jassim Alseddiqi…

 
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Banking & Finance

Europe’s EBRD in talks on co-investments with Gulf sovereign funds

The European Bank for Reconstruction and Development is in talks with Gulf sovereign wealth funds to invest jointly, and hopes to complete a round of fund-raising for such investments by…

 
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Banking & Finance

Companies in UAE can register for VAT from October, says finance ministry

Business in the UAE will be able to register online for value-added tax (VAT) from October, according to the UAE Ministry of Finance. On Sunday, Younis Al Khouri, under-secretary, Ministry…

 
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Banking & Finance

Six Gulf nations aiming for simultaneous VAT adoption in January

Policy makers in the six-nation Gulf Cooperation Council are aiming to introduce a 5 percent value-added tax at the start of next year, despite administrative and technical obstacles, a senior…

 
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Banking & Finance

Al Mal Capital acquires US-based Poinsettia Plaza shopping centre

Al Mal Capital PSC, a subsidiary of Dubai Investments PJSC and a diversified, multi-line investment institution headquartered in Dubai, has acquired Poinsettia Plaza, a 153,000-square feet neighbourhood shopping centre in…

 
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Banking & Finance

Saudi sovereign fund denies Six Flags stake deal talks

The Public Investment Fund (PIF), Saudi Arabia’s top sovereign wealth fund, said it is not considering the acquisition of a stake in North American amusement park operator Six Flags Entertainment…

 
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