Remittances sent home by expatriates in Kuwait rose 3.5 percent in the first quarter of 2018, according to new figures from the Central Bank of Kuwait. In a statement, the Central Bank said that remittances [...]
Lebanon’s banks are paying the highest interest rates on deposits in almost nine years as lenders seek to shore up their capital to cope with political uncertainty and the high borrowing needs of the government. [...]
Cerberus Capital Management has pulled out of the bidding process for Abraaj Group’s asset-management platform after its offer was rejected by investors of the embattled Dubai-based private equity firm, according to people familiar with the [...]
Abu Dhabi Global Market (ADGM) has announced the establishment of the first Chinese state-owned financial services firm to provide investment and financial support to Chinese enterprises as part of the Belt-and-Road initiative. The state-owned financial [...]
Abraaj Group Ltd is being sued by one of the founders of a Turkish dairy maker that the embattled buyout firm is trying to sell, according to people familiar with the matter. The legal action [...]
Dubai FDI, the investment development agency of Dubai Economy Department (DED), has revealed the expansion of its Aftercare initiative, which aims to attract more foreign direct investments (FDI) into the emirate. The Aftercare program is [...]
Emirates NBD, Dubai’s biggest bank, reported a 30 percent rise in Q2 profit on Wednesday, boosted by an increase in net interest income. The bank made a record Q2 profit of $716 million (AED2.6bn), up [...]
Credit card advertisements are everywhere these days – Billboards, newspapers, TV, radio, most likely even in your inbox. Every card provider wants to one-up the competitors with offers, deals and discounts. In such a scenario, [...]
Blockchain technology will soon transform business operations in several sectors, while initial coin offerings (ICOs) are currently “nothing more than unregulated IPOs”. These are just two of the forthright opinions shared by regional experts in [...]
Emirates NBD becomes the latest in a growing list of companies with exposure to Abraaj, with recent additions including Shuaa Capital, Ajman Bank and the Commercial Bank of Dubai Emirates NBD becomes the latest in [...]
