UAE: Dubai Islamic Bank’s Shares Plummet Further

Dubai Islamic Bank‘s shares have fallen for the third time after the bank said that it will cut its dividend payment in accordance with the central bank’s advice…. Islamic Finance News Related articles Bank in Dubai Says It Cut Ties With Iranian Institutions (nytimes.com) Dubai bank cuts off business with Iranian lenders (sfgate.com) Noor Islamic […]

Investors Pause to Count Profits

Investors booked profits on the Dubai Financial Market (DFM) yesterday, ending the week on a down note after a rally that has brought more than 25 per cent gains since the start of the year. Emaar Properties, one of the region’s biggest developers, added 2.8 per cent to Dh3.07 a share. Gulf in the Media

Dubai Shares Climb to 10-Month High

 Stocks jumped as company earnings and dividends boosted investor confidence and after a Greek bailout and U.S. jobs data lifted global markets last week. Business Intelligence Middle East Related articles Dubai Shares Rise to 10-Month High on Profit, Dividend Optimism (businessweek.com) Dubai shipbuilding firm eyes end to debt process (sfgate.com) Dubai shipbuilding firm eyes end […]

Abu Dhabi Shares Rise to 5-Month High on Etisalat Dividend Plan

Abu Dhabi’s shares also rose on investor bets the emirate’s spending plans would support real-estate companies. Business Intelligence Middle East

Infrastructure Tender Process In The UAE

By Arti Sangar Arti Sangar is a partner is the Dubai office of DiazReus LLP Although many residential projects across the UAE are ‘on hold’, the UAE government is continuing to commit money to infrastructure and other public projects. Of all the infrastructure projects planned or under way in the UAE, perhaps the most ambitious […]

Sale of UAE Exchange Highlights Weakness of IPO Market

UAE Exchange, one of the world’s largest networks of currency exchanges, with 29 branches, has sold a 40 percent stake to Centurion Investment of Abu Dhabi. The sale,  reported to have been for $2billion, took place after the UAE Exchange had abandoned plans for an IPO. The proceeds from the sale are for expansion purposes. […]

UAE Renewable Energy Deals Continue

Abu-Dhabi based renewable energy company Masdar has agreed to invest millions of dollars in Scotland on clean energy projects. The agreement with the Scottish government is the latest in the UAE’s efforts to diversify its energy portfolio and to reduce its dependence on an oil based economy. By 2020 Abu Dhabi plans to derive 7% […]

Central Bank of UAE Website Hacked

The Central Bank of the United Emirates was shut down on Thursday, apparently by Israeli hackers operating under the name “IDF Team.” The site of Arab Bank was also taken down, and it appears that the motivation was to embarrass the banks during the visit of European Central Bank head Mario Draghi to the UAE. […]