Shuaa Capital

Small quarter profit for Shuaa

Shuaa CapitalShuaa Capital , the investment banks has seen gains and profit for the third quarter. This is the result of the gains that the bank has seen in its investment banking business. It posted a profit of 0.2 million dirhams, which may sound very small but is substantial because till now the bank had been facing a loss of 269.26 million dirhams during the same period last year.

Shuaa Capital projects Dubai’s growth rate at 2.5 per cent

Shuaa Capital projects Dubai’s growth rate at 2.5 per centThe economic growth rate of Dubai, reeling under pressure due to slowdown and Dubai World crisis, is likely to shrink second year in a row in 2010, according to a report titled 'UAE Vision 2010', published by a leading city-based investment bank Shuaa Capital.

However, overall economic prospectus may improve this year and Dubai is expected to register an economic growth rate of 2.5 per cent.

UAE index - maximum ‘gainer’ in Shuaa Capital GCC investor confidence index

In the report of Shuaa Capital for August, Investor Confidence Index of the UAE index gained 4.3 per cent, up 118.8 points.

Shuaa Capital stated, "Driving the UAE Index this month was improving sentiment towards the current state of the UAE economy."

During August, the GCC investor confidence index rose 2.7 per cent to 126.3, after a fall, earlier, in the confidence index.

SHUAA urges Dubai Financial Market to issue 515 million new shares

As per the media reports, an approval from the concerned authorities has been won by SHUAA Capital, the GCC's leading financial services institution, which has also urged the Dubai Financial Market

CEO of Shuaa resigns, but to remain on board

Seven weeks after Shuaa Captial settled a bond dispute with Dubai Banking Group, the UAE's biggest investment bank Chief Executive Officer Iyad Duwaji has submitted his resignation.

Wednesday, Dubai-based Shuaa said in an e-mailed statement that it was for some personal reasons that Duwaji resigned, after more than a decade at the helm of affairs. But he will stay as CEO until and unless a successor is selected and will also continue to be a board member.

DBG initiates legal proceedings against Shuaa Capital

It was revealed by Dubai Banking Group (DBG) on Tuesday that in order to recover the capital it invested in a $409 million bond that Shuaa redeemed by issuing shares, it has initiated legal proceedings against Shuaa Capital.

However, the investment bank Shuaa Capital said that it does not accept the claim that any amounts are due to DBG since it has already exercised its contractual option to redeem the bonds by issuing 250 million new shares.