Sunday 22 April 2018

Jafza's trade with India surges to over $3.4bn in 2017

Dubai's Jebel Ali Free Zone (Jafza), a subsidiary of global trade enabler DP World, said its trade with India has been growing at a tremendous pace with the latest business figures seen at more than $3.4 billion.   Jafza said over 788 Indian companies are tr


UAE’s e-Dirham generates $1bn govt revenue in Q1

The federal government revenue collected through e-Dirham in the UAE reached more than Dh4 billion ($1.08 billion) in the first quarter (Q1) of 2018, representing an increase by 82 per cent compared to the same period last year. This achievement confirms the e-Dirham’s role


500 experts for investment forum in Bahrain

Over 500 global investors and CEOs from a number of sectors will address key business issues facing the region, while opening up investment opportunities to the private sector at the upcoming Gateway Gulf, a new global investment forum in Bahrain. The global forum, the first econ


Nasdaq Dubai welcomes SIB, Damac sukuk listings

Nasdaq Dubai welcomed the listing yesterday (April 18) of two Sukuk by UAE issuers - Sharjah Islamic Bank (SIB), one of the UAE’s most prominent Islamic financial institutions and Damac Properties, a leading real estate developer. SIB listed a $500 million Sukuk, and Damac


Dubai Investments distributes 12pc dividend

Dubai Investments, a leading, diversified investments conglomerate listed on the Dubai Financial Market, has decided to distribute 12 per cent cash dividend to its shareholders for the financial year ending December 31, 2017. A proposal to this effect was approved by the sharehol


IHC posts 12pc rise in 2017 profit to $7.9m

International Holding Company (IHC), formerly known as International Fish Farming Holding Company (Asmak), has posted a net profit of Dh29.3 million ($7.9 million) in 2017 versus Dh26 million in 2016,marking a rise of 12 per cent. The profit boost followed a growth in sales reven


Investcorp sells Dutch division of SPGPrints

Bahrain-based Investcorp, a leading global provider and manager of alternative investments, has sold Veco Precision, a Dutch-based division of SGPrints to Gilde Buy Out Partners and Management. Veco is being carved out of and sold by SPGPrints Group B.V, a leading global provider


New DIFC strategies to catalyse Dubai economy

The Dubai International Financial Centre, (DIFC) has announced three new strategic initiatives aimed at catalysing economic growth in Dubai and cementing its global status as a competitive business destination. DIFC’s three initiatives focus on attracting foreign direct inv


Lack of financial safety net ‘risky for expats’

The lack of any financial safety net can leave expatriates at risk of financial disaster in the event of a serious injury or death, which could leave themselves facing the legal issues that surround un-payable debts, said an industry expert.  In many cases, company owners an


Dubai Islamic Q1 profit surges 16pc to $330m

Dubai Islamic Bank, the first Islamic bank in the world, has posted a net profit of Dh1.211 billion ($330 million) for the first quarter of 2018, up 16 per cent compared with Dh1.042 billion for the same period last year. Total income increased to Dh2.697 billion, up 13 per cent

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