Friday 28 July 2017

FAB sukuk income fund yields 2.44pc earning

First Abu Dhabi Bank’s NBAD Sukuk Income Fund has earned dividend income equivalent to $816,662.02 which equates to an annualised yield of 2.44 per cent during the period from December 15, 2016 to July 5, 2017. Eligible investors who had successfully subscribed to the Fund


Visa expands transaction processing in Singapore, UK

Visa, a global payments technology company, has expanded transaction processing capabilities in two state-of-the-art data centres in Singapore and the UK. The new global processing hubs will increase the speed, resilience and geo-diversity of Visa’s infrastructure, while st


RAK Chamber inks tie-up with Ras al-Khaimah airport

Ras al-Khaimah Chamber of Commerce and Industry has signed a memorandum of understanding (MoU) with Ras al-Khaimah International Airport, to boost mutual cooperation, exchange of expertise and studies. The MoU will cement the basis of joint work between the two parties in a syste


UAE freezes accounts of new terror outfits

The UAE Central Bank has issued a circular to all financial institutions operating in the country to start search for and freeze all bank accounts and investments held by any individual or entity mentioned in the new terror lists declared by Saudi Arabia, UAE, Bahrain and Egypt on July 25.


Foreign investments in ADX top $7 billion in H1

The total trading value of foreign investments in Abu Dhabi Securities Exchange (ADX) hit Dh26.9 billion ($7.3 billion) during H1, accounting for 47.3 percent of ADX total trade which amounted to around Dh56.5 billion, a report said. The total trading value of foreign investments


Abu Dhabi's FAB posts H1 profit of $1.49 billion

First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest financial institutions, has reported consolidated pro-forma financial results for the first time post-merger, delivering a resilient performance amidst softer economic conditions. First


Firms urged to prepare for VAT

Companies in the region must begin preparing to ensure they remain compliant when Saudi Arabia's new value-added tax (VAT) regulations come into force, says Proven Saudi Arabia, a leading business support provider. As many businesses trade across the GCC, it is imperative tha


BCG expands roster of Middle East partners

The Boston Consulting Group (BCG) has announced the promotion of three of its Middle East principals to partners to bolster its Energy, Industrial and Consumer Goods, and Public Sector practices. Effective immediately, Shelly Trench, Giovanni Moscatelli and César Sánchez


Bank ABC Islamic posts 41pc rise in H1 profit to $15m

Bank ABC Islamic today announced that its net profit for the first half of 2017 was $15.1 million, 41 per cent higher than the net profit of $10.7 million reported in the first half of 2016. Second quarter 2017 net profit of $8.7 million was 39 per cent higher than $6.3 million achieve


Bit Coin Global to launch of Money Trade Coin

Bit Coin Global FZE, a leading company in crypto market investment solutions, has  announced the soft launch of the crypto currency (payment solutions) Money Trade Coin on July 29 at the Country Club Hotel Dubai, UAE. In the presence of chief guest Govindaji (Indian Actor),

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