Revealed: Top 10 banks in the UAE – Gulf Business

Things have been on the up for the GCC’s banks, which collectively recorded a better year in 2017 despite slowing economic growth in the region as a whole.Banking activity was supported by a higher oil price and continued infrastructure investment as Gulf states diversify their economies in various ways. Commercial activity in the region expanded in 2017 and consumer confidence grew, albeit slightly. As a result, our list of the region’s 50 leading banks – ranking institutions in Bahrain, Kuwait, Oman, Saudi Arabia and the UAE – recorded higher net profit in 2017. Source: Revealed: Top 10 banks in the

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UK real estate firm Savills acquires Cluttons Middle East – Gulf Business

UK-based real estate advisory firm Savills has announced its acquisition of consultancy Cluttons Middle East.Savills said the business employs 190 staff in seven cities across the UAE, Bahrain, Egypt, Oman and Saudi Arabia and provides agency, management and consultancy advice in the commercial and residential sectors. Source: UK real estate firm Savills acquires Cluttons Middle East – Gulf Business

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Dubai’s Emirates NBD to acquire Turkey’s DenizBank for $3.19bn – Gulf Business

Dubai’s largest bank Emirates NBD has announced a definitive agreement to acquire a 99.85 per cent stake in Turkish private bank DenizBank from Russia’s Sberbank for TRY14.6bn ($3.19bn).The deal represents a coup for Emirates NBD amid reports that it had been met with resistance from Turkish President Tayyip Erdogan, who sided with Qatar against the UAE, Saudi Arabia and Bahrain in last year’s Gulf dispute. Source: Dubai’s Emirates NBD to acquire Turkey’s DenizBank for $3.19bn – Gulf Business

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Investing so your workforce thrives – Gulf Business

Investing so your workforce thrives Ben Bengougam explains how improving your team’s wellbeing can bring positive results Businesses succeed when their workforce thrives, and in a competitive talent market, applicants are attracted to companies that value and actively enhance employee wellbeing and happiness. Source: Investing so your workforce thrives – Gulf Business

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Hong Kong, London, New York shortlisted for Aramco IPO – Gulf Business

Saudi Arabia has shortlisted New York, London and Hong Kong – singly or in a combination of two or even all three – for the international portion of the listing of national oil company Aramco, two sources with knowledge of the discussions said.The initial public offering (IPO) will also include the Saudi stock exchange, Tadawul, and is still set for late 2018, the sources said.googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1490877017801-3’); });The shortlist means Tokyo, Singapore and Toronto are no longer in the running for what is likely to be the world’s biggest IPO. Riyadh could raise as much as $100bn in the sale

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Apple and Amazon in talks to set up in Saudi Arabia – sources – Gulf Business

Apple and Amazon are in licensing discussions with Riyadh on investing in Saudi Arabia, two sources told Reuters – part of Crown Prince Mohammed bin Salman’s push to give the conservative kingdom a high-tech look.A third source confirmed that Apple was in talks with SAGIA, Saudi Arabia’s foreign investment authority. Source: Apple and Amazon in talks to set up in Saudi Arabia – sources – Gulf Business

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Sheikh Abdullah inaugurates new UAE embassy in London – Gulf Business

Sheikh Abdullah bin Zayed, the UAE’s Minister of Foreign Affairs and International Cooperation, has inaugurated the country’s new embassy in London.Sheikh Abdullah and the UK’s Minister of State for International Development and Minister of State of the Middle East at the Foreign and Commonwealth Office, Alistair Burt, also unveiled a commemorative painting to mark the opening of the UAE embassy’s new headquarters. Source: Sheikh Abdullah inaugurates new UAE embassy in London – Gulf Business

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Dubai financier bids $400m for Newcastle United – Gulf Business

  Dubai-based financier Amanda Staveley has made a formal offer to buy English Premier League football club Newcastle United, according to reports. UK broadcaster Sky News reports that Staveley’s PCP Capital Partners has submitted a bid of around GBP300m ($397.4m) to buy the club from sportswear tycoon Mike Ashley. Source: Dubai financier bids $400m for Newcastle United – Gulf Business

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ADNOC listing could raise up to $2.8bn – Gulf Business

Abu Dhabi National Oil Co (ADNOC) said on Monday it may sell as much as a 20 per cent stake in its fuel distribution unit, potentially raising up to $2.8bn.Analysts valued the total fuel distribution unit at between $11bn and $14bnin reports prepared by banks advising the firm on the planned listing, sources have told Reuters. Source: ADNOC listing could raise up to $2.8bn – Gulf Business

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