Friday 22 September 2017

Abraaj Group appoints Kito de Boer as managing partner

The Abraaj Group, a leading investor operating in global growth markets, has announced the appointment of Kito de Boer as managing partner. De Boer has over 30 years’ experience across diverse geographies and sectors. In 2014, de Boer was appointed by


UAE listed firms give $8.8bn in dividend, bonus

Cash dividends and bonus shares to the tune of Dh32.5 billion ($8.8 billion) have been distributed by 79 companies listed at Abu Dhabi Securities Exchange and Dubai Financial Market for Fiscal Year 2016, a report said. Distribution of such big gains goes in line with the listed c


UAE-Iraq trade touches $7 billion in 2016

Total value of two-way trade between the UAE and Iraq stood at nearly Dh26 billion ($7 billion) in 2016, making Iraq one of the key export markets for UAE, with re-exports accounting for Dh12.3 billion of the total value of trade, said the Federation of UAE Chambers of Commerce and Industry.


DFSA inks partnership deal with Lebanon’s CMA

The Dubai Financial Services Authority (DFSA) said it has signed an agreement with Lebanon’s Capital Markets Authority (CMA). The MoU will enhance information sharing and co-operation on supervisory issues, further extending the existing relationship between the two markets


CBD strengthens executive team with new Emirati GMs

As part of its strategy to enable UAE nationals to take up senior management positions, Commercial Bank of Dubai has announced the promotion of several senior Emirati executives. Othman Bin Hendi has been appointed as general manager, Corporate Banking. Bin Hendi joined the bank in 199


Farnek wins Rakbank FM services contract

Leading UAE-based total facilities management (FM) company, Farnek, said it has been awarded a two-year contract to provide cleaning services for National Bank of Ras Al Khaimah (Rakbank). This latest contract builds on the the company's extensive client base in the banking s


Saudi PIF to host top Future Investment Initiative

The Public Investment Fund (PIF) of Saudi Arabia today announced the launch of the Future Investment Initiative (FII) under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud. Hosted and organised by PIF, the kingdom's main investment ar


NEC Payments achieves global security compliance

Bahrain-based NEC Payments, a payments technology company, has been awarded the Payment Card Industry Data Security Standards (PCI DSS v3.2) certification by SISA Information Security WLL, a top qualified security assessor. This certification, achieved for the second year running


UAE’s excise tax to be paid in e-Dirham only

The UAE Excise Tax, due to go into force effective October 1, shall be collected in e-Dirham only, the Federal Tax Authority has announced. The move goes in line with the UAE government’s strategy to keep pace with the latest technological developments in areas of FinTech a


Qinvest buys stake in Barcelona marina

Qinvest, Qatar's leading private investment group and one of the region’s most prominent Islamic financial institutions, has announced its investment in OneOcean Port Vell, a world-class marina in Barcelona,  Spain. The investment was made through its wholly-owned

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