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Topic: Dubai Financial Market

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DIFC Moves Ahead With Plans To Set Up Legal Framework This month, it appointed international law firm Clifford Chance to assist on the legal side, and completion of the legal framework is scheduled for the last quarter of the year, which should enable the DIFC to license financial institutions by year-end. The DIFC wants to retain only a minority stake in the stock market and plans to leave its running to a technology platform specialist, and is therefore in discussions on the project with the world’s major exchanges. While the DIFC’s stock market plans have attracted the most publicity, especially after the World Bank’s show of interest, the main area of DIFC activity is expected to be provision of licenses and services for foreign companies in www.mees.com /postedarticles/finance/uae/a45n21b02.htm   (1216 words)

Emirates Bank Group Dubai International Financial Center is a global jurisdiction of choice for financial institutions and brings world-class regulatory processes and market mechanisms to the region comprised of the GCC, the Indian subcontinent, northern Gulf, the Caspian states, the Levant, north and east Africa. Perfectly situated between the financial centers of Europe and Asia, DIFC is a bridge between the east and the west serving as a gateway for the flow of capital to and from the region thus strengthening the regional links to international capital markets. Through the creation of a nexus for financial institutions and regional corporations and by bringing together global investors and regional issuers, DIFC serves as a catalyst for accelerated and sustainable growth and as the platform of choice for accessing the trillion dollar regional market. www.emiratesbank.com /NR/exeres/FA09E835-55CE-466B-A8B0-1A590D4849CA.htm?NRMODE=Unpublished   (235 words)

InternationalReports.net : Dubai, UAE 2005 The DIFX is part of Dubai International Financial Center (DIFC), a project that officially launched in September 2004 and is already home to some of the world’s leading financial institutions. The Dubai International Financial Exchange (DIFX) plans to open for business in September 2005 – an international bourse that aims to fill the financial void between the time zones of London and Hong Kong. For all these reasons, the DIFX is attracting worldwide attention from all links in the financial market value chain: issuers, investors and intermediaries. www.internationalreports.net /middleeast/dubai/2005/financial.html   (970 words)

skill-link: Interest Zone The Dubai International Financial Center is intended to be a global jurisdiction of choice for financial institutions and to bring world-class regulatory processes and market mechanisms to the region comprised of the GCC, the Indian subcontinent, northern Gulf, the Caspian states, the Levant, north and east Africa. Situated between the financial centers of Europe and Asia, DIFC should be a bridge between the east and the west serving as a gateway for the flow of capital to and from the region thus strengthening the regional links to international capital markets. DIFC will initially focus on five areas of activity in the financial industry: Asset Management, Islamic Finance, (Re)Insurance, Back office Operations and the establishment of a Regional Financial Exchange to foster a cross border efficient and liquid capital market. www.skill-link.com /Docs/IZ/jb-DubaiICF127.htm   (461 words)

A Bourse Is Born In Dubai When Dubai's leadership conceived the plan for the international exchange, most of the region's markets, including the Dubai Financial Market, the local bourse, were peanut-sized and going nowhere. UAE financial overseers recently canceled $2.6 billion in trades on the Dubai Financial Market that they deemed fishy. And for the past three years, Sheikh Mo, as he is widely known, has been driving his aides and a team of international financial experts to build something even more ambitious: a Gulf bourse that will attract global investors and enhance Dubai's status as a commercial hub. www.businessweek.com /magazine/content/05_40/b3953155.htm   (1619 words)

MENAFN - Middle East North Africa . Financial Network News: LONDON, 27 September 2004 — The opening for business last week by the Dubai International Financial Center (DIFC), the self-styled "Middle East's first No official reasons were given for their departure, although UK press reports suggested differences over some of the real estate deals involved with the Dubai Financial District, of which the DIFC is the flagship project, with its "signature building" headquarters, The Gate. Indeed, the DIFC, according to the promoters, is a "culmination of thirty years of development that has transformed Dubai from a petroleum-reliant emirate to one with a diverse, broad based economy. According to the DIFC, other financial institutions including international majors such as Merrill Lynch, Credit Suisse, and AON, the insurance giant, have all signaled their intent of applying for operating licenses in the Center. www.menafn.com /qn_news_story_s.asp?StoryId=64500   (922 words)

Dubai International Financial Centre :: Gowealthy.com The Dubai International Financial Center or DIFC is an onshore capital market designated as a financial free zone designed to create a unique financial services cluster economy for wealth creation initiatives. Banking Services, Capital Markets, Asset Management and Fund Registration, Reinsurance, Islamic Finance and Back Office Operations are the six focus areas of this financial center. The mission of the DIFC is to be a catalyst for regional economic growth, development and diversification by functioning as a globally recognized regional financial center. www.gowealthy.com /realestate/uae/dubai/difc.asp   (481 words)

UAE Clears Way for Establishing DIFC But the UAE now appears to be well on course to have its own financial capital market equal in quality to London, Tokyo, Hong Kong and New York before it hosts the annual meetings of the World Bank and the IMF in Dubai in September. DUBAI, 15 July 2003 — The United Arab Emirates yesterday took a giant step toward the creation of the Middle East’s “first truly world-class” international financial center. This will give the DIFC a unique position in the global economy — comparable to centers outside the UAE — and one that is designed to make it a magnet to attract business from the world’s leading banks and financial institutions. www.arabnews.com /?page=6§ion=0&article=28847&d=15&m=7&y=2003   (624 words)

SHUAA Capital SHUAA Capital announced today that it has received the full authorization of the Dubai Financial Services Authority (DFSA) to carry out investment banking activities at the Dubai International Financial Center (DIFC), thus becoming the first Arab and Regional investment banking institution to act as a Clearing Member on the Dubai International Financial Exchange (DIFX). UAE based, Dubai PolyFilm announced signing an MOU with major stakeholders in the Oman-based Al Khaleejia polyFilm and polypropylene production company to acquire 40% of its shares from Ali Hassan and Abdul Karim Hassan and a number of other shareholders at a price of 3.2 Omani Riyal per share. Petrofac, the international oil and gas facilities service provider, recently announced that shares have been placed with institutional investors at a price of Sterling Pound 2.15 per share (AED 13.9) giving the Company a market capitalization on admission of $1.3 billion (AED 4.7 billion). www.ameinfo.com /news/Company_News/S/SHUAA_Capital   (493 words)

ETA STAR PROPERTIES: The property development arm of ETA ASCON Group. Property in Dubai, besides being the epitome of quality living appointed with tasteful luxury, is also competitive with international real estate markets. It boasts high rental yields of ranging 7 - 10 percent and over compared to an average of 3 - 4 percent elsewhere, and the cost per square meter is a comparatively low to what an investor would have to pay in other similar markets. With the opening of the real estate market to freehold investors and prospective home-buyers, ETA Star has embarked on a major program to develop commercial, residential and hospitality properties for the benefit of nationals and expatriate population. www.etastarproperties.com /about.html   (363 words)

albawaba.com middle east news information Morgan Stanley, a global financial services firm and a market leader in securities, investment management and credit services, has received a license from the DFSA (Dubai Financial Services Authority) to operate as an authorised firm in the... A formal application for authorization and a license was submitted on Sunday to the Qatar Financial... International Finance Corporation (IFC), the private sector arm of the World Bank Group and the Mohammed Bin Rashid Establishment for Young Business Leaders has decided to form a partnership to promote entrepreneurship programs in the UAE. www.menareport.com /en/business,Financial_Markets   (505 words)

Sheikh Mohammed establishes the Dubai International Financial Centre I am sure that the Dubai International Financial Centre will contribute to raising the standards of establishments and financial services in the region and in the world, which will reflect positively on the investment atmosphere, business competence and the wealth of nations and individuals. You may notice that all the financial centres that comprise the international financial market are based in Eastern Asia, Europe and the United States. Years ago, we in Dubai and the UAE started to accelerate on this highway to keep up with the vast international changes in the fields of economy and trade. www.sheikhmohammed.co.ae /english/events/events_sm_finance.asp   (872 words)

Arab investors feel chill from Dubai deal - International Business - MSNBC.com DUBAI, United Arab Emirates - The ports controversy is likely to send a chill among Arab businessmen, making them cautious about investing in the United States amid fears of an anti-Arab bias in the world’s biggest market. Employees walk in the Dubai International Financial Center on the  day of its opening ceremony last fall. Last year, Dubai companies invested $5.5 billion in the West, much of that in the United States. www.msnbc.msn.com /id/11766815   (959 words)

The New Market Machines » Blog Archive » I Spy Dubai The Dubai International Financial Exchange opened for trading Monday as part of the country’s drive to become the financial and commercial center of the Persian Gulf region. Dubai International Financial Exchange (DIFX) will form the centrepiece of Dubai International Financial Centre, a state-run offshore zone launched last year in the hope of dominating financial services in the world’s biggest oil producing region. The recent jump in energy prices is pumping large amounts of cash into the region, and major financial institutions such as Standard Chartered Bank (STAN.LN), Credit Suisse Group (SCR) and Barclays PLC (BCS), have established operations in the government-owned Dubai International Financial Center, a tax free financial zone. www.blogalization.nu /marketmachines/?p=82   (620 words)

Rival Financial Centers In The Middle East - Forbes.com It is financial liberalization in Saudi Arabia and Kuwait that poses the greatest threat to Bahrain, not competition from Qatar and Dubai. In Dubai he was accountable to the DIFC chairman, who was in turn responsible to the government of Dubai, which is only one emirate in the United Arab Emirates and the commercial rather than the political hub, which is Abu Dhabi. Dubai in contrast has little oil and has become a diversified service-based economy, much of its growth being dependent on its commerce, residential construction and its substantial tourist industry. www.forbes.com /home/2005/03/14/cz_0314oxan_gulf.html   (1289 words)

International investors eye UAE and international property values as Dubai Property Investment Show 2005 opens Dubai Property Investment show, the region’s comprehensive annual exhibition for the international and Middle East property market, and part of International Property Week, opens its doors today (Tuesday, February 1, 2005) with over 150 participants from more than 25 countries. Among several other UAE-based exhibitors are GLOBALEYE, leading independent financial services consultants and Dubai Property Centre finance partner who provide offshore companies in jurisdictions as wide ranging as Isle of Man, Bermuda, British Virgin Islands (BVI) and Dubai. Dubai Properties, part of Dubai Holding entities and gold sponsor to the show, will also be showcasing its Jumeirah Beach Residence project, the largest single-phase residential and commercial project in the world, offering year-round beach resort lifestyle at affordable prices and on freehold ownership basis. www.arabwideweb.com /english/Events_News.asp?id=88   (980 words)

Khaleej Times - Online DUBAI - Dubai opened an international financial center on Saturday to generate capital flow and investment in a region stretching from the Gulf and Africa to Central Asia and the Indian subcontinent. "We are not creating another offshore unit, but a center at the same high financial level" as established international financial markets, he said, adding that the market was expected to be in business by the end of the 2002. DIFC "will be a center like London, Frankfurt, Singapore, Hong Kong and Tokyo," Jallaf said, stressing it would not be competitive but complementary to those markets. www.khaleejtimes.co.ae /ktarchive/160202/finance.htm   (4033 words)

Deutsche Bank opens new Dubai branch - Banking Business Review Deutsche Bank has opened a branch in the Dubai International Financial Center to take advantage of the growing opportunities in the region. Welcoming Deutsche Bank, Dr Omar Bin Sulaiman, director general of the DIFC, added: "As a global powerhouse and one of the world's leading international financial service providers Deutsche Bank's decision to base themselves in the DIFC is an endorsement for us being a truly international and well-regulated financial center." Michael Cohrs, head of global banking for Deutsche Bank, commented: "The Middle East has been developing significantly over the past few years and is now a key market for the international banking industry. www.banking-business-review.com /article_news.asp?guid=282AF398-FF2E-4CEE-89B8-688FE4AB5539   (183 words)

albawaba.com middle east news information::Credit Suisse expands regional presence with brokerage business in Saudi Arabia In December 2004, Credit Suisse was the first bank to be granted a full banking license enabling it to provide the full range of banking services in the Dubai International Financial Center. Credit Suisse operates out of the Dubai International Financial Center (DIFC) and is a founding member of the Dubai International Stock Exchange (DIFX). We see significant opportunities for international and regional investors and are proud to be among the first global financial services companies to offer our services in this important market.” www.menareport.com /en/business/192036   (440 words)

The Seattle Times: Nation & World: Pakistan scientists may have aided Iran, Libya Abdul Qadeer Khan, considered the father of Pakistan's nuclear bomb, and Mohammed Farooq provided the help — including blueprints for equipment used to enrich uranium — both directly and through a black market based in Dubai, the officials said. Khan was chairman of the laboratory until 2001, when he was dismissed by Musharraf, at least partly because of concerns about financial improprieties at the lab, officials said. He spent billions of dollars without any significant financial oversight." seattletimes.nwsource.com /html/nationworld/2001845308_pakistan28.html   (440 words)

UAE - News Reports The Dubai Financial Market, DFM, the first stock trading floor in the Emirate which will begin trading on today, is expected to give the much needed boost to investor confidence by offering more transparent trading and financial disclosure. Dubai Millennium, running on the outside, beat its own course record after shooting out of the gates and stormed home to thunderous applause from over 40,000 spectators. The Dubai World Cup was the first race in the World Racing Series Championship 2000, and carried a purse of $36 million for the winner and $12 million for the runner-up. www.uaeinteract.com /news/viewnews.asp?NewsFileName=20000326.htm   (440 words)

Otis wins landmark US$36 million contract for Burj Dubai, world’s tallest building “Otis was committed to seeking solutions and providing the necessary resources to accommodate the unique design and needs of the building,” said Fred Durie, executive director, Emaar Properties, Burj Dubai’s owner and the world’s largest real estate developer by market capitalization. At more than 700 meters (more than 2,297 feet), the 160 plus-story Burj Dubai will become the tallest building in the world, surpassing the 101-story Taipei Financial Center by more than 200 meters (656 feet). Burj Dubai is part of a US $20 billion urban development in the heart of Dubai, spreading across 500 acres and combining world class commercial, residential, hotel, entertainment, shopping and leisure outlets with landscaped open green spaces dotted with lakes and numerous water features. www.otis.com /news/newsdetail/0,1368,CLI79_NID19564_RES1,00.html   (547 words)

GrandPrix.com > News > Team Dubai F1 - where is the money coming from? The planned Team Dubai F1 operation is to be funded with money from Dubai but what is probably going to happen is that the team will fund the set-up costs with a bond issue on the Dubai Financial Market. It is worth noting that Team Dubai F1 is not officially linked to either the new Dubai Autodrome, which has been developed by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum now with the new A1 Grand Prix series which is the work of Sheikh Maktoum Hasher Maktoum Al Maktoum. It is expected that the offices of Team Dubai F1 will be at the Dubai Autodrome and Business Park where the plans include a business park offering purpose-built offices with workshops and showrooms for the motoring and motor sports industry and direct access to the track. www.grandprix.com /ns/ns13688.html   (547 words)

Dubai marina dubai duty free to burj al arab hotel dubai and details of dubai yellow pages by dubai employment either escort dubai the world dubai, dubai property is dubai weather - dubai financial market. Purchase dubai tennis championship, dubai island, dubai duty free womens open and dubai magazine mail paper is not dubai night club related to dubai tv.ae maosama into dubai hospital, jumeirah beach hotel dubai and dubai property. Get info on schools in dubai, dubai horse racing depends entirely on ship agency dubai and best american university of dubai is not standard chartered bank dubai is required by dubai business. www.uaeb2bdirectory.com /dubai-marina.htm   (898 words)

Euromoney Magazine Companies from Egypt to India and from Turkey to South Africa are hoping that the opening of the Dubai International Financial Exchange, set for the end of September, will open the doors to a vast well of unemployed petrodollars. Competition and difficult underlying markets, however, are forcing managers to reconsider their game plans. Smaller firms are challenging the traditional hegemony of the bond market's behemoths when it comes to quality of service to issuers. www.euromoney.com   (898 words)

Manulife Financial Dubai needed to assure the safe transfer and financing of real manulife financial property. manulife financial Constant update of the latest developments on results, pricing analysis, market segments, interviews, broker updates. Canada’s Foreign Affairs Department lpl financial services this week is warning same-sex married couples to be wary when traveling or moving to foreign countries which may not recognize the marriages and, in some cases, could even bar entry or enforce the country's death penalty for homosexual activity. carostina.t35.com /manulife/financial.html   (486 words)

The Hindu Business Line : Dubai Internet City woos software firms Since Dubai serves as a financial services hub having about 43 banks serving about 3.5 million people and a fast growing telecom market, there is huge opportunity for Indian companies," he said. DUBAI Internet City, the IT hub created by the Dubai Government as a part of its free trade zone, is working towards synergies between companies located in West Asia and Indian software houses, particularly in the areas of IT-enabled services and disaster recovery management space. A senior representative of Dubai Internet City, Mr Amit Jauhri, who was in Hyderabad recently as a part of Gitex 2003 held here, told Business Line that out of about 450 companies located in the Internet City, 18 per cent of them are from India. www.blonnet.com /2003/02/08/stories/2003020802080700.htm   (474 words)

The Indus Entrepreneurs (TiE) holds a seminar on Dubai's capital market & opportunities for IPOs The Indus Entrepreneurs (TiE) With the creation of various components like the Dubai International Financial Exchange (DIFX) and Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC) promises to enter a new era by making Dubai a destination of choice for all kinds of financial transactions and instruments. TiE endeavors to cultivate and nurture the ecosystems of entrepreneurship and free-market economics everywhere. TiE was formed in 1992 at Silicon Valley by a group of entrepreneurs with the objective of sharing and giving back to society. www.ameinfo.com /58069.html   (660 words)

DME - Dubai Mercantile Exchange Dubai Mercantile Exchange's (DME) establishment of an exchange inside the Dubai International Financial Centre (DIFC) is subject to regulatory approval from the Dubai Financial Services Authority (DFSA) and it being granted an Authorised Market Institution licence to operate inside the DIFC. The DME will be located within the Dubai International Financial Centre (DIFC), a financial free zone situated in Dubai, United Arab Emirates and will be regulated by the Dubai Financial Services Authority (DFSA). The DME will be driven by the market, it will respond to market needs and will not try and create demand where there is none. www.dubaimerc.com /en/about.html   (717 words)

TEND 2000 - Speakers Al Abbar is currently Chairman of the Board, Emaar Properties PJSC, Dubai Financial Market and Royal Sporting House Singapore; Vice Chairman of Dubai Aluminum Company Limited and Dubai World Trade Center; Director and Board Member of National Bank of Dubai, of Emirates Explosives LLC and Dubai Cable company; and Board Member, Dubai Chamber of Commerce. His Excellency Mohamed Ali Al Abbar is the Director General of the Dubai Department of Economic Development, and a driving force behind many of the emirate’s economic achievements. Al Abbar launched the prestigious Dubai Quality Awards which introduced the local business community to the quality concept and provided a framework for achieving world class quality standards. crm.hct.ac.ae /events/archive/tend/MhdAA.html   (717 words)

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