EIIB-Rasmala, the Dubai-based investment bank and asset manager, will expand its leasing and property fund products amid increased investor demand in the Arabian Gulf region.
The group yesterday said that it was finalising the launch of two leasing fund strategies and planning to expand its UAE property business.
This came amid a surge in demand driven by progressive regulatory activity of regional markets, particularly in Saudi Arabia and the Emirates, as well as greater investor confidence in the underlying market fundamentals of the region, the group said.
“In 2014 we saw a higher level of investor demand for broader, more alternative investment products, as well as greater overseas investor interest in our key markets,” said EIIB-Rasmala’s chief executive, Zak Hydari.
A company spokesman said that the new funds would not be domiciled in the Dubai International Finance Centre, despite recent efforts to persuade asset managers to launch products from the free zone.
EIIB-Rasmala said that it expected to raise about US$1 billion for its growing leasing and alternatives business and approximately $250 million to invest in a broad mix of property transactions in the United Kingdom.
The group is also seeking to increase its shareholding in Rasmala Egypt Asset Management, in response to what it says are stabilising economic and political conditions in the country.
The group currently owns a 51 per cent stake in the Egyptian company.
“The Egyptian asset management market has become an attractive sector that is primed for further growth, as well as the further attention of international investors,” the company said.
EIIB-Rasmala was formed in 2012, when the London-based European Islamic Investment Bank (EIIB) acquired a 35 per cent stake in the Dubai-based Rasmala Holdings. EIIB increased its stake to 76.3 per cent at the end of last year. The group is listed on London’s Alternative Investment Market.
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Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
ROUTE TO TITLE
Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
Round 3: Beat Marie Bouzkova 6-4, 6-2
Round 4: Beat Anastasia Potapova 6-0, 6-0
Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2
THE DETAILS
Director: Milan Jhaveri
Producer: Emmay Entertainment and T-Series
Cast: John Abraham, Manoj Bajpayee
Rating: 2/5
Confirmed bouts (more to be added)
Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez
Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.
COMPANY PROFILE
Name: N2 Technology
Founded: 2018
Based: Dubai, UAE
Sector: Startups
Size: 14
Funding: $1.7m from HNIs
Results
5pm: Al Falah – Maiden (PA) Dh80,000 (Turf) 1,200m; Winner: Bshara, Richard Mullen (jockey), Salem Al Ketbi (trainer)
5.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,400m; Winner: AF Musannef, Tadhg O’Shea, Ernst Oertel
6pm: Al Dhafra – Maiden (PA) Dh80,000 (T) 1,600m; Winner: AF Mualami, Antonio Fresu, Abubakar Daud
6.30pm: Al Khaleej Al Arabi – Handicap (PA) Dh80,000 (T) 1,600m; Winner: Hawafez, Adrie de Vries, Abubakar Daud
7pm: Al Mafraq – Handicap (PA) Dh80,000 (T) 1,600m; Winner: JAP Almahfuz, Royston Ffrench, Irfan Ellahi
7.30pm: Al Samha – Handicap (TB) Dh80,000 (T) 1,600m; Winner: Celestial Spheres, Patrick Cosgrave, Ismail Mohammed
The Specs
Engine: 1.6-litre 4-cylinder petrol
Power: 118hp
Torque: 149Nm
Transmission: Six-speed automatic
Price: From Dh61,500
On sale: Now
The Comeback: Elvis And The Story Of The 68 Special
Simon Goddard
Omnibus Press
MATCH INFO
Barcelona 2
Suarez (10'), Messi (52')
Real Madrid 2
Ronaldo (14'), Bale (72')
Huddersfield Town permanent signings:
- Steve Mounie (striker): signed from Montpellier for £11 million
- Tom Ince (winger): signed from Derby County for £7.7m
- Aaron Mooy (midfielder): signed from Manchester City for £7.7m
- Laurent Depoitre (striker): signed from Porto for £3.4m
- Scott Malone (defender): signed from Fulham for £3.3m
- Zanka (defender): signed from Copenhagen for £2.3m
- Elias Kachunga (winger): signed for Ingolstadt for £1.1m
- Danny WIlliams (midfielder): signed from Reading on a free transfer
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
Sreesanth's India bowling career
Tests 27, Wickets 87, Average 37.59, Best 5-40
ODIs 53, Wickets 75, Average 33.44, Best 6-55
T20Is 10, Wickets 7, Average 41.14, Best 2-12
'The Woman in the House Across the Street from the Girl in the Window'
Director:Michael Lehmann
Stars:Kristen Bell
Rating: 1/5
Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
UAE v IRELAND
All matches start at 10am, and will be played in Abu Dhabi
1st ODI, Friday, January 8
2nd ODI, Sunday, January 10
3rd ODI, Tuesday, January 12
4th ODI, Thursday, January 14
Law 41.9.4 of men’s T20I playing conditions
The fielding side shall be ready to start each over within 60 seconds of the previous over being completed.
An electronic clock will be displayed at the ground that counts down seconds from 60 to zero.
The clock is not required or, if already started, can be cancelled if:
• A new batter comes to the wicket between overs.
• An official drinks interval has been called.
• The umpires have approved the on field treatment of an injury to a batter or fielder.
• The time lost is for any circumstances beyond the control of the fielding side.
• The third umpire starts the clock either when the ball has become dead at the end of the previous over, or a review has been completed.
• The team gets two warnings if they are not ready to start overs after the clock reaches zero.
• On the third and any subsequent occasion in an innings, the bowler’s end umpire awards five runs.
THE SPECS
Engine: Four-cylinder 2.5-litre
Transmission: Seven-speed auto
Power: 165hp
Torque: 241Nm
Price: Dh99,900 to Dh134,000
On sale: now
A meeting of young minds
The 3,494 entries for the 2019 Sharjah Children Biennial come from:
435 – UAE
2,000 – China
808 – United Kingdom
165 – Argentina
38 – Lebanon
16 – Saudi Arabia
16 – Bangladesh
6 – Ireland
3 – Egypt
3 – France
2 – Sudan
1 – Kuwait
1 – Australia
On racial profiling at airports
Tightening the screw on rogue recruiters
The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.
Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.
A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.
The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.
The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.
Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.
Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment
But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.
THE SPECS
Engine: 4.4-litre twin-turbo V8 hybrid
Power: 653hp at 5,400rpm
Torque: 800Nm at 1,600-5,000rpm
Transmission: 8-speed auto
0-100kph in 4.3sec
Top speed 250kph
Fuel consumption: NA
On sale: Q2 2023
Price: From Dh750,000