Friday 22 January 2021

ADFD allocates $170m for green energy projects

Abu Dhabi Fund for Development (ADFD) is continuing to advance its sustainable development agenda within the country and abroad through clean-energy initiatives, with allocations worth AED622 million ($170 million). The fund completed five renewable energy projects worth AED117.3


Paymentology to join Mastercard fintech programme

Paymentology, a leading payment processing platform, has been selected by Mastercard to join Mastercard’s Fintech Express programme and its Engage Programme. Mastercard and Paymentology will work together to co-innovate in the field of banking technology in Europe and acros


Bahrain-origin exports surge 12% to $1.58bn in Q4

The value of Bahrain’s exports of national origin increased by 12% to BD599 million ($1.58 billion) during the fourth quarter of 2020, compared to BD532 million for the same quarter of the previous year, a report said. The top 10 countries in terms of the value of exports o


FAB to acquire 100% of Bank Audi Egypt’s share capital

First Abu Dhabi Bank (FAB) and Bank Audi sal have announced the signing of a definitive agreement for the acquisition by FAB of 100% of the share capital of Bank Audi sae, Bank Audi’s subsidiary in Egypt, a media report said. This agreement follows the completion of an in-d


Sharjah Islamic Bank makes $110.48m net profit

Sharjah Islamic Bank has reported an increase in its operating profits before provisions by 8.7%, amounting to AED697.7 million, compared to AED642.1 million for the same period last year.   Considering the exceptional circumstances that the world is going throu


SICO retains number one broker status on Bahrain Bourse

SICO, a leading regional asset manager, broker, and investment bank (licensed as a wholesale bank by the CBB), has retained its status as the leading broker on the Bahrain Bourse (BHB) for the 22nd consecutive year.   SICO’s market share in terms of traded


ENBD marks listing of $750m bond at Nasdaq Dubai

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD (ENBD), rang the market-opening bell at Nasdaq Dubai today (July 20) to celebrate the listing of a $750 million conventional bond. The bond is the first public debt issuance from the UAE in 2021. 


Ithmaar Bank re-launches Thimaar savings account

Ithmaar Bank, a Bahrain-based Islamic retail bank, has re-launched its Thimaar savings account, offering its Thimaar account holders 2,271 prizes - the highest number of winners by any bank in Bahrain. Ithmaar Bank will also offer a total prize purse of $4,165,000, including one


Masdar, ENBD partner for services to green REIT

Abu Dhabi-based Masdar, a subsidiary of Mubadala Investment, has partnered with Emirates NBD Asset Management to receive management services for the UAE's first sustainable real estate investment trust – the Masdar Green REIT. Together, Masdar Capital Management, a rece


Sharjah Chamber logs $5.85bn foreign trade in 2020

The Sharjah Chamber of Commerce and Industry (SCCI) said that exports and imports in 2020 have amounted to nearly AED21.5 billion ($5.85 billion). SCCI’s  accomplished transactions in 2020, where the total number of new and renewed memberships reached 57,103, of which

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