Company Insights Emirates NBD Banking & Finance Emirates NBD News Banking & Finance DP World to hire banks for 10-year debut green sukuk DP World intends to issue its first 10-year US dollar-denominated benchmark-sized green sukuk, as the ports operator expands its global reach. The Dubai-based company held investor meetings on September 4 and 5, Reuters reported, citing a bank document. Citi, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan and […] September 5, 2023 Finance Emirates NBD invests in Swiss fintech Emirates NBD, the largest bank by assets in Dubai, has invested in Komgo, a Swiss-based software development and technology company operating in the trade finance industry. The equity investment was made by Emirates NBD’s Innovation Fund, the bank’s corporate venture pool. The value was not disclosed. Created earlier this year, the fund is for investments in […] September 4, 2023 Renewable Energy Six UAE banks allocate $52bn for renewable projects A total of AED190 billion ($51 billion) was allocated by six UAE banks for the financing of renewable energy, waste-to-energy and green technology projects in the years leading up to 2022. The banks are First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Emirates NBD, Dubai Islamic Bank, Mashreq and Abu Dhabi Islamic Bank, the UAE […] August 22, 2023 Banking & Finance Standard Chartered not expecting further FAB approach The boss of British bank Standard Chartered does not anticipate a further acquisition approach from First Abu Dhabi Bank as a six-month cooling off period required by UK takeover rules comes to an end. The London-listed bank has been the subject of speculation this year around a possible sale to FAB, the UAE’s biggest lender. […] July 31, 2023 Banking & Finance Emirates NBD profit soars 130% on back of interest rate hikes Net earnings at Dubai’s biggest bank, Emirates NBD, rose by 77.14 percent in the second quarter of 2023 as net interest income surged due to a buoyant regional economy. The bank reported a net profit of AED6.2 billion ($1.69 billion) for the April to June period compared to AED3.5 billion a year earlier. Net profit […] July 27, 2023 Analysis Trade Deals and state visits fuel UAE-Turkey trade hopes The trade corridor with Turkey is expected to become one of the UAE’s fastest growing for the rest of the decade on the back of a new economic deal and high-profile state visits. UAE President Sheikh Mohamed bin Zayed Al Nahyan visited Turkey last month, an event described by his minister of economy as taking […] July 14, 2023 Real Estate Dubai residential property prices surpass 2014 peak Dubai’s residential property prices climbed at their fastest rate in almost a decade in the year to June 30, with villa prices topping previous records set in 2014. Property consultancy CBRE reported that average residential prices in June increased by 16.9 percent, up from the 15.9 percent growth registered a month earlier. Meanwhile, international consulting […] July 12, 2023 Markets Banks and property lead Dubai bourse to eight-year high Dubai’s stock index hit eight-year highs this week, extending a bull rally that has enabled the once-beleaguered bourse to outperform its regional rivals in 2023. The emirate’s benchmark rose 1.0 percent to 3,962 points on Thursday, its highest close since July 2015 to take its gains this year to 19.9 percent. Saudi Arabia’s index is […] July 7, 2023 Analysis Real Estate Affordable homes warning for Dubai private developers Private developers in Dubai must build enough affordable housing or the government may be forced to step in, a prominent business leader has warned. Nasser al Shaikh, who served as director-general of Dubai’s Department of Finance until 2009 and held senior roles at real estate finance firm Amlak Finance and property developer Deyaar Development, said […] June 26, 2023 Banking & Finance Gulf sees potential in Turkish energy and defence Saudi Arabia and the UAE will invest in the Turkish defence and energy sectors, new reports citing identified sources suggest. If the Reuters report is accurate, the expected investments reflect a growing closeness between Turkey and the longstanding Gulf allies. Gulf support could be vital for Turkey, which is struggling with soaring inflation, a collapse […] June 22, 2023 Posts navigation Previous 1 … 10 11 12 … 19 Next
Banking & Finance DP World to hire banks for 10-year debut green sukuk DP World intends to issue its first 10-year US dollar-denominated benchmark-sized green sukuk, as the ports operator expands its global reach. The Dubai-based company held investor meetings on September 4 and 5, Reuters reported, citing a bank document. Citi, Deutsche Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, J.P. Morgan and […] September 5, 2023
Finance Emirates NBD invests in Swiss fintech Emirates NBD, the largest bank by assets in Dubai, has invested in Komgo, a Swiss-based software development and technology company operating in the trade finance industry. The equity investment was made by Emirates NBD’s Innovation Fund, the bank’s corporate venture pool. The value was not disclosed. Created earlier this year, the fund is for investments in […] September 4, 2023
Renewable Energy Six UAE banks allocate $52bn for renewable projects A total of AED190 billion ($51 billion) was allocated by six UAE banks for the financing of renewable energy, waste-to-energy and green technology projects in the years leading up to 2022. The banks are First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Emirates NBD, Dubai Islamic Bank, Mashreq and Abu Dhabi Islamic Bank, the UAE […] August 22, 2023
Banking & Finance Standard Chartered not expecting further FAB approach The boss of British bank Standard Chartered does not anticipate a further acquisition approach from First Abu Dhabi Bank as a six-month cooling off period required by UK takeover rules comes to an end. The London-listed bank has been the subject of speculation this year around a possible sale to FAB, the UAE’s biggest lender. […] July 31, 2023
Banking & Finance Emirates NBD profit soars 130% on back of interest rate hikes Net earnings at Dubai’s biggest bank, Emirates NBD, rose by 77.14 percent in the second quarter of 2023 as net interest income surged due to a buoyant regional economy. The bank reported a net profit of AED6.2 billion ($1.69 billion) for the April to June period compared to AED3.5 billion a year earlier. Net profit […] July 27, 2023
Analysis Trade Deals and state visits fuel UAE-Turkey trade hopes The trade corridor with Turkey is expected to become one of the UAE’s fastest growing for the rest of the decade on the back of a new economic deal and high-profile state visits. UAE President Sheikh Mohamed bin Zayed Al Nahyan visited Turkey last month, an event described by his minister of economy as taking […] July 14, 2023
Real Estate Dubai residential property prices surpass 2014 peak Dubai’s residential property prices climbed at their fastest rate in almost a decade in the year to June 30, with villa prices topping previous records set in 2014. Property consultancy CBRE reported that average residential prices in June increased by 16.9 percent, up from the 15.9 percent growth registered a month earlier. Meanwhile, international consulting […] July 12, 2023
Markets Banks and property lead Dubai bourse to eight-year high Dubai’s stock index hit eight-year highs this week, extending a bull rally that has enabled the once-beleaguered bourse to outperform its regional rivals in 2023. The emirate’s benchmark rose 1.0 percent to 3,962 points on Thursday, its highest close since July 2015 to take its gains this year to 19.9 percent. Saudi Arabia’s index is […] July 7, 2023
Analysis Real Estate Affordable homes warning for Dubai private developers Private developers in Dubai must build enough affordable housing or the government may be forced to step in, a prominent business leader has warned. Nasser al Shaikh, who served as director-general of Dubai’s Department of Finance until 2009 and held senior roles at real estate finance firm Amlak Finance and property developer Deyaar Development, said […] June 26, 2023
Banking & Finance Gulf sees potential in Turkish energy and defence Saudi Arabia and the UAE will invest in the Turkish defence and energy sectors, new reports citing identified sources suggest. If the Reuters report is accurate, the expected investments reflect a growing closeness between Turkey and the longstanding Gulf allies. Gulf support could be vital for Turkey, which is struggling with soaring inflation, a collapse […] June 22, 2023
