Monday 17 June 2019

Capital of UAE public companies hits $112bn in 2018

The capital of public joint stock companies listed by the Securities and Commodities Authority amounted to circa Dh412 billion ($112 billion) in 2018, a growth of 1 percent on year, a media report said. The capital of Abu Dhabi Securities Exchange-listed firms stood at Dh94.8 bil


Global economic growth to fall to 3.4pc in 2020: study

The momentum of the global economic expansion that slowed down in 2018 to 3.7 per cent is expected to carry on to 2019–2020, when annual global output expansion is forecast to decline to 3.3–3.4 per cent, said Euromonitor in a new report. Advanced economies are expect


EIBank names interim CEO

Emirates Investment Bank (EIBank), an independent private bank based in the UAE, has appointed Imad Bou Khouzam, currently chief financial officer, as interim chief executive officer of the Bank. Bou Khouzam has been with EIBank as Chief Financial Officer since 2017, where he lea


Global cyber-crime costs ‘to hit $6trn by 2021’

Cyber-crime is one of the biggest risks to businesses to date and globally its estimated costs will reach $6 trillion by 2021, said a report highlighting data breaches or personal data theft from large organisations. ACCA (Association of Chartered Certified Accountants) teamed up


SABB-Alawwal merger creates $68bn bank

Saudi Arabia's SABB and Alawwal bank today created banking history in the kingdom by legally combining their businesses. The combined bank has SR257 billion ($68.68 billion) of total assets, SR168 billion of customer loans and SR195 billion of customer deposits.   


Dubai non-oil sector sees solid growth in output

Dubai’s private sector non-oil economy continued the recent twin themes of strengthening output growth and weak job creation, said the latest Emirates NBD Dubai Economy Tracker, noting that total business activity increased at the strongest rate since the series was first compiled in 2010


Adnec waives VAT for international event organisers

Abu Dhabi National Exhibitions Company (Adnec) has obtained the FTA License for waiver from Value Added Tax (VAT) for all international companies and organisations participating in or holding shows and conferences at its venues across the UAE with effect from June 1. The VAT waiv


New business licenses up 35pc in Dubai

New business licenses issued in Dubai during the first four months of 2019 increased 35 percent compared to the same period of 2018, according to a report issued by the Department of Economic Development (DED). DED issued 9,489 new licences during January-April 2019 as Dubai cont


Bahrain records solid 2.73pc economy growth in Q1

Bahrain’s economy has registered a real growth of 2.73 per cent for the first quarter and 3.43 per cent in current prices over last year supported by the continued non-oil sector growth against the backdrop of the increasing rates of spending on infrastructure projects, according to a rep


Saudi sees 25pc rise in candidates for CFA exam

Saudi Arabia recorded a 25 per cent increase in candidates registering for the CFA Exams in June as compared to last year; representing the highest candidate growth in the GCC region, said the CFA Institute. Registrations grew by21 per cent in Egypt and 26 per cent in Jordan and

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