Tuesday 25 July 2017

Dubai economy will continue to expand: Sheikh Ahmed

Dubai’s economy is expected to expand further over the next two years after having outperformed global economic growth and defying downward trends that prevailed worldwide in 2016, said Sheikh Ahmed bin Saeed Al Maktoum, Second Deputy Chairman of the Executive Council and Chairman of Econ


Takaud posts solid H1 growth, nets good returns

Takaud, a specialist provider of savings, investment and pension solutions for the Middle East and North Africa (Mena) region, has registered solid growth during the first six months with a 9.9 per cent increase in the mid-year returns for its investors. Announcing the results, T


Ibdar Bank successfully exits fourth aviation deal

Bahrain-based wholesale Islamic Investment bank, Ibdar Bank, has announced the successful exit of three Q400 aircraft on lease to Falcon Aviation, marking the fourth successful aviation exit by the Bank within the last two years. Commenting on the successful deal, CEO of Ibdar Ba


Bank ABC posts $102m H1 net profit

Bank ABC (Arab Banking Corporation) today announced that its consolidated net profit, attributable to the shareholders of the parent, for the first half of the year 2017 was $102 million. These results compare positively compared to the net profit of $101 million reported for the same


Emirates NBD to offer clearing services to Delma Brokerage

Emirates NBD, a leading bank in the region, today announced the signing of an agreement to offer clearing services to UAE-based Delma Brokerage, making the brokerage firm the first non-affiliate trading member to sign with the bank. Emirates NBD is currently the first UAE-based f


DubaiPay generates over $3.2bn in one year

Smart Dubai’s DubaiPay portal for payment online and via smartphones registered a 15 per cent increase in the amounts collected between June 1, 2016 and June 1, 2017, generating Dh12 billion ($3.26 billion). The more than 10 million transactions marked a surge of 13 per cen


Dubai set to become world’s first blockchain-powered govt

Dubai is fast moving toward achieving its goal of becoming the world’s first government to execute all implementable transactions on blockchain by 2020, an international expert on blockchain has said. “Private sector enterprises, which stand to gain due to potential s


Ajman DED inspects 1,307 business units in Q2

The Department of Control and Consumer Protection of the Department of Economic Development - Ajman (DED-Ajman) carried out the inspection of over 1,307 businesses in the emirate during the second quarter of 2017. The department was also able to issue 246 violations against busin


Orpic wins award for LPIC finance deal

Oman Oil Refineries and Petroleum Industries Company (Orpic) has been awarded the Project Finance Deal of the year (2016) award by Trade and Export Finance (TXF) for its Liwa Plastics Industries Complex (LPIC) project finance deal. The award ceremony was held at the Export and Pr


QNB Group starts operation in India

QNB Group, the largest financial institution in the Middle East and Africa, has recently commenced operations in Mumbai, the economic capital of India. The start of the group’s operations in India comes in support of its vision to become a leading bank in the Middle East, Africa,

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