Company Insights Emirates NBD Banking & Finance Emirates NBD News Banking & Finance Dubai’s debt burden set to tumble to 51% of GDP Dubai’s government debt is forecast to fall to 51 percent of GDP this year, according to S&P Global Ratings, after the emirate repaid some of its outstanding bonds and loans. The figure is down 27 percentage points from a 2020 peak, the ratings agency wrote in a report published on Monday. Yet broader public sector […] May 24, 2023 Banking & Finance $500m Aldar green bond ‘four times oversubscribed’ Aldar Investment Properties – a subsidiary of Abu Dhabi’s biggest real estate developer Aldar Properties – has launched a $500 million 10-year green debut Islamic bond, it said in a stock market filing on Thursday. The issuance marks Aldar Properties’ first return to international capital markets since 2019, when it launched its debut 10-year sukuk, […] May 18, 2023 Analysis Economy Gulf awaits vital Turkish election results The Turkish presidential and parliamentary elections on Sunday will be keenly watched by Gulf investors who have bet billions of dollars on the world’s 19th-largest economy. Should incumbent president Recep Tayyip Erdoğan and his ruling AK Party again prevail in the votes, Turkey will maintain its unorthodox monetary policies. The central bank has slashed interest […] May 12, 2023 Banking & Finance UAE’s first dirham T-sukuk gets bids worth $2.3bn The UAE’s first AED1.1 billion ($299.6 million) dirham-denominated Islamic treasury sukuk (T-sukuk) was oversubscribed 7.6 times, getting bids worth AED8.3 billion ($2.26 billion). The strong demand was witnessed across both tranches, with a final allocation of AED 550 million for the two-year tranche, and AED 550 million for the three-year tranche, the ministry of finance […] May 11, 2023 Banking & Finance Standard Chartered not actively looking for buyers Standard Chartered is not actively seeking potential suitors for an acquisition, although CEO Bill Winters said they are “always happy to have conversations”. The London-listed bank has been the subject of speculation this year around a possible sale to First Abu Dhabi Bank (FAB), the UAE’s biggest lender. “Nobody has come after us,” Winters told […] May 8, 2023 Economy Fed may pause rate hikes after latest increase The US Federal Reserve has hinted that it may be time to pause interest rate hikes after announcing its tenth consecutive increase since March 2022. As widely expected the Fed has raised its target interest rate by 25 basis points (bps), with the majority of Gulf central banks, whose currencies are pegged to the US […] May 4, 2023 Banking & Finance UAE banks are likely to weather the brewing US storm UAE banks are equipped to handle any risks posed by another banking storm brewing in the US, according to economists, after the majority posted healthy increases in first quarter profits. First Republic is the latest international bank to see its future thrown into possible turmoil as deposits fell by over $100 billion in the first […] April 28, 2023 Banking & Finance UAE to sell first dirham T-sukuk worth nearly $300m The UAE will sell AED1.1 billion ($299.6 million) of Islamic treasury sukuk (T-sukuk) for the first time in the local currency, state-run WAM news agency reported. The T-sukuk will be issued with tranches maturing in two, three and five years, followed by a 10-year bond at a later date. Mohamed bin Hadi Al Hussaini, minister […] April 27, 2023 Economy Mena inflation to remain ‘uncomfortably high’ Inflation in the Middle East and North Africa is to remain “uncomfortably high” for the foreseeable future, according to a leading banking expert. Headline inflation across the 16 Mena economies increased on average to 19.4 percent year-on-year between March and December last year, as reported by the World Bank in its most recent economic update. […] April 14, 2023 Banking & Finance Network says talks ongoing with private equity bidders Network International, a Dubai-based card payment processing company, has confirmed receiving a preliminary takeover bid from a CVC Capital Partners and Francisco Partners Funds consortium. Discussions with the consortium are ongoing, the company said in a statement published on the London Stock Exchange. “There can be no certainty that any offer will be made, nor […] April 14, 2023 Posts navigation Previous 1 … 11 12 13 … 19 Next
Banking & Finance Dubai’s debt burden set to tumble to 51% of GDP Dubai’s government debt is forecast to fall to 51 percent of GDP this year, according to S&P Global Ratings, after the emirate repaid some of its outstanding bonds and loans. The figure is down 27 percentage points from a 2020 peak, the ratings agency wrote in a report published on Monday. Yet broader public sector […] May 24, 2023
Banking & Finance $500m Aldar green bond ‘four times oversubscribed’ Aldar Investment Properties – a subsidiary of Abu Dhabi’s biggest real estate developer Aldar Properties – has launched a $500 million 10-year green debut Islamic bond, it said in a stock market filing on Thursday. The issuance marks Aldar Properties’ first return to international capital markets since 2019, when it launched its debut 10-year sukuk, […] May 18, 2023
Analysis Economy Gulf awaits vital Turkish election results The Turkish presidential and parliamentary elections on Sunday will be keenly watched by Gulf investors who have bet billions of dollars on the world’s 19th-largest economy. Should incumbent president Recep Tayyip Erdoğan and his ruling AK Party again prevail in the votes, Turkey will maintain its unorthodox monetary policies. The central bank has slashed interest […] May 12, 2023
Banking & Finance UAE’s first dirham T-sukuk gets bids worth $2.3bn The UAE’s first AED1.1 billion ($299.6 million) dirham-denominated Islamic treasury sukuk (T-sukuk) was oversubscribed 7.6 times, getting bids worth AED8.3 billion ($2.26 billion). The strong demand was witnessed across both tranches, with a final allocation of AED 550 million for the two-year tranche, and AED 550 million for the three-year tranche, the ministry of finance […] May 11, 2023
Banking & Finance Standard Chartered not actively looking for buyers Standard Chartered is not actively seeking potential suitors for an acquisition, although CEO Bill Winters said they are “always happy to have conversations”. The London-listed bank has been the subject of speculation this year around a possible sale to First Abu Dhabi Bank (FAB), the UAE’s biggest lender. “Nobody has come after us,” Winters told […] May 8, 2023
Economy Fed may pause rate hikes after latest increase The US Federal Reserve has hinted that it may be time to pause interest rate hikes after announcing its tenth consecutive increase since March 2022. As widely expected the Fed has raised its target interest rate by 25 basis points (bps), with the majority of Gulf central banks, whose currencies are pegged to the US […] May 4, 2023
Banking & Finance UAE banks are likely to weather the brewing US storm UAE banks are equipped to handle any risks posed by another banking storm brewing in the US, according to economists, after the majority posted healthy increases in first quarter profits. First Republic is the latest international bank to see its future thrown into possible turmoil as deposits fell by over $100 billion in the first […] April 28, 2023
Banking & Finance UAE to sell first dirham T-sukuk worth nearly $300m The UAE will sell AED1.1 billion ($299.6 million) of Islamic treasury sukuk (T-sukuk) for the first time in the local currency, state-run WAM news agency reported. The T-sukuk will be issued with tranches maturing in two, three and five years, followed by a 10-year bond at a later date. Mohamed bin Hadi Al Hussaini, minister […] April 27, 2023
Economy Mena inflation to remain ‘uncomfortably high’ Inflation in the Middle East and North Africa is to remain “uncomfortably high” for the foreseeable future, according to a leading banking expert. Headline inflation across the 16 Mena economies increased on average to 19.4 percent year-on-year between March and December last year, as reported by the World Bank in its most recent economic update. […] April 14, 2023
Banking & Finance Network says talks ongoing with private equity bidders Network International, a Dubai-based card payment processing company, has confirmed receiving a preliminary takeover bid from a CVC Capital Partners and Francisco Partners Funds consortium. Discussions with the consortium are ongoing, the company said in a statement published on the London Stock Exchange. “There can be no certainty that any offer will be made, nor […] April 14, 2023
