#finance

DP World

DP World lists $1.5bn sukuk on Nasdaq Dubai

The capital raised by the sukuk will be used for general corporate and growth purposes including refinancing debt

Shailesh Dash main

Phi trends: Why it’s never too late to start investing

Investing requires a long-term approach to yield better results, opines entrepreneur and investor Shailesh Dash in his new series

Bahrain digitisation

Why digitalisation has helped Bahraini banks escape the brunt of Covid-19

As Covid-enforced social distancing measures became commonplace, Bahrainis turned increasingly online to conduct financial services

How can investors find the right asset allocation mix in the current situation?

The key for investors is to find the asset mix that not only improves their returns, but more-so their decision-making process

Abu Dhabi Fund for Development

Covid-19: Abu Dhabi Fund suspends debt repayment for beneficiary countries, companies

It covers the payment of instalments and interests over the period from January 1 to December 31, 2020

Dubai’s Nomad Homes raises $4m in seeding funding

The company is building a managed marketplace for users to search, transact, and finance residential real estate

UAE provided financial facilities worth Dhs5.8bn to non-profit organisations in Q1 2020

The Central Bank of the UAE has said that the support provided to non-profit organisations is expected to increase in 2020

Dubai Financial Market

Dubai Financial Market to reopen trading floor on July 7

DFM had announced the temporary closure of the premises on March 16 in the wake of the Covid-19 pandemic

Dubai Islamic Bank lists $300m sukuk on Nasdaq Dubai

There is a total of $71.09bn sukuk now listed on the exchange

Dubai World pays $8.2bn two years early to complete debt revamp

The payment was made using funds from asset sales, dividend payments and the delisting of port operator DP World

Saudi’s Islamic Development Bank lists $1.5bn sustainability sukuk on Nasdaq Dubai

The AAA-rated sustainability sukuk is the first Covid-19 related sukuk in the global capital markets

Sharjah Islamic Bank lists $500m sukuk on Nasdaq Dubai

The latest listing raises the total value of sukuk listed in Dubai to $69.29bn

This UAE firm offers a letter of guarantee with no fees in less than 24 hours

UAE-based Finance House offers the Al Rabeh Guarantee service to support local businesses

UAE Central Bank’s TESS liquidity scheme availed by 26 banks

More than 140,000 eligible customers have already benefited from the TESS liquidity facility

Amlak International announces intent to list on Saudi bourse

The offering will comprise of 27,180,000 ordinary shares

sheikh hamdan

Islamic Economy accounted for Dhs41.8bn of Dubai’s GDP in 2018

It contributed 9.9 per cent to Dubai’s GDP in 2018

Outward personal remittances from the UAE in Q1 2020 increased 7.8% y-on-y

The top five destination countries for remittances were India, Pakistan, Philippines, Egypt and the US

How can UAE wealth managers stay relevant in the current economic situation?

Wealth managers need to adopt sophisticated tools such as robo-advisors to stay relevant and offer the best service to their clients, says IT firm Comarch

Sharjah hires banks for $1bn sukuk sale

A sale could happen as soon as this week and proceeds will be used for general budgetary needs, sources said

Saudi moved $40bn in reserves to sovereign wealth fund PIF

The sovereign fund has spent billions of dollars this year buying equities, including stakes in BP, Boeing, Citigroup and Facebook

Millennials prefer robot bankers to humans – Nordic data

Banks are trying to find ways to accommodate growing investment demands from cash-rich clients

UAE Exchange starts issuing refunds – report

UAE Exchange, which operates more than 100 branches across the country, stopped all transactions in March

Saudi suspends two mortgage-support programmes amid crisis

An interest-free loan programme for military personnel which covers 20 per cent of a property will be suspended from May 31

Saudi wealth fund PIF buys Boeing, Citi, Facebook, Disney stakes

The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis, its governor said in April

What will be the impact of Saudi’s VAT hike on businesses and consumers?

The kingdom has hiked its VAT rate from 5 per cent to 15 per cent starting July 1

UAE’s ADCB posts 82% drop in Q1 net profit on NMC impairment charges

Its net loans stood at Dhs247bn and customer deposits at Dhs263bn as of the end of Q1 2020

Virus may force Kuwait Finance and Bahrain’s AUB to reassess merger

Last year, Kuwait Finance House offered to buy Ahli United Bank in an all-share deal that was valued at about $8.8bn

Finablr uncovers $1bn in hidden debt as UAE’s NMC Health scandal widens

The London-listed company, Finablr, had a market value of GBP77m when it was halted from trading in March, down from a peak of GBP1.5bn in December

Revealed: Tips for UAE investors during the current crisis

While there remain pockets of opportunity, investors should ensure they have sufficient liquidity right now, stresses Vijay Valecha, chief investment officer at Century Financial  

Abu Dhabi’s Waha to invest bulk of $200m in US stocks

Waha Capital posted a loss of Dhs616m for 2019