Hydrocarbons continue to meet the large bulk of Dubai’s energy needs, with the UAE sitting on 5.8% of the world’s crude oil reserves. However, the UAE Vision 2021 sets out goals including the reduction of the emirate’s carbon footprint and a desire to play a pioneering role in the development of energy-efficient technologies. The 1200-MW Hassyan clean coal power plant is expected to come on-...
UAE: Dubai
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Articles & Analysis | Dubai working to broaden the market for sharia-compliant products from The Report: Dubai 2015
Dubai is growing as a financial centre that attracts investment and expertise from all points. Its Islamic banks are central to this economic narrative, as is the emirate’s participation in the international market for sukuks, a sharia-compliant alternative to bonds. Islamic finance has become a highly competitive market in Dubai and the emirate is angling to become a...
Interviews & Viewpoints | Adnan Chilwan, CEO, Dubai Islamic Bank: Interview from The Report: Dubai 2015
How will the unification of economic programmes under the Dubai Islamic Economy Development Centre (DIEDC) affect local Islamic banks?
Articles & Analysis | Dubai establishing clearer criteria for sukuk as they become a key method of raising capital from The Report: Dubai 2015
The year 2014 was an important one for the development of sukuk in Dubai, thanks to a series of sovereign sales from non-Muslim countries that have diversified sources, as well as proved the presence of global interest in this relatively young financial instrument. Sukuk are at the core of Dubai's economic strategy, both as a method of raising capital and as a centre for...
Articles & Analysis | New IPOs likely in Dubai, with government-related entities leading the way from The Report: Dubai 2015
After almost five years without any initial public offerings (IPOs) on either of Dubai’s two equities bourses, 2014 saw a change – first the drought ended, in March, and then activity scaled up with two new stocks added in an eight-day span in September and October. The outlook for offerings is bright, thanks to a combination of the Dubai government’s commitment to...
Articles & Analysis | Dubai's liquidity is up and more companies are listing from The Report: Dubai 2015
Equities are lightly traded across the region, and initial public offerings (IPOs) have been few and far between. In Dubai, however, a capital markets culture that has relied on private wealth and bank debt seems ripe for change. The emirate has four regulated trading platforms, and plans to encourage more activity on them are under way. In 2014 the first equity capital...