Saturday 20 July 2019

ADIA to buy 30pc stake in UK appliance care group D&G

Abu Dhabi Investment Authority (ADIA) said it has reached an agreement with CVC Capital Partners to acquire a 30 per cent stake in Domestic & General Group (D&G), a leading appliance care specialist based in the UK.   D&G's appliance care plans p


FlexxPay gets funding for financial wellness platform

Dubai-based FlexxPay has raised funding from a group of individual and corporate investors to rollout its financial wellness platform in the UAE that enables companies to offer salary advances to employees for their already earned income. FlexxPay is the first entity of its type


Shuaa Capital wins shareholders nod for ADFG deal

Shuaa Capital (Shuaa), a market leader in regional investment banking and capital markets services, today announced that it had concluded its shareholders’ General Meeting to approve the proposed transaction with Abu Dhabi Financial Group (ADFG), a leading investment group in the region.


BisB seals Shukran Loyalty Programme deal

Bahrain Islamic Bank (BisB) has signed an agreement with Al Rashid Group, a unit of retail and hospitality major Landmark Group, thus enabling customers to convert BisB reward points to the group’s loyalty programme, Shukran. This comes as part of the bank's efforts to


QNB reports net profit of $2bn in H1

Qatar National Bank (QNB), a leading bank in the Middle East, Africa and Southeast Asia region, has posted a net profit of QR7.4 billion ($2 billion) for the six months ended June 30, 2019, up 4 per cent over the previous year. Total assets reached QR887 billion ($244 billion), u


RAK-GCC trade jumps 45pc to top $1.1bn in 2018

Ras Al Khaimah’s trade with the GCC Countries increased 45 per cent between 2010-2018, rising from Dh2.852 billion ($776 million) to reach Dh4.149 billion ($1.12 billion). “The GCC countries represent the top trade partners with 29 per cent of the total foreign trade


DGCX gold, commodities trade tops $1.3trn

The value of gold and commodities traded by the Dubai Gold and Commodities Exchange (DGCX) rose to around Dh4.85 trillion ($1.32 trillion), according to statistics issued by the Securities and Commodities Authority (SCA), said a media report. As the authority that regulates secur


Trade tension, geopolitical flux ‘raise systemic risk’

Heightened trade tensions and greater political uncertainty in Europe and the Middle East have increased systemic risks in financial markets, but they remain moderate overall, Moody's Investors Service said in a new report. Market liquidity has tightened alongside rising vola


DIFC introduces four new licencing categories, fees

Dubai International Financial Centre (DIFC) is continuing to prioritise the ease of doing business with the introduction of new licencing categories and fees designed to make establishing businesses within the Centre easier and more affordable. Four new licencing categories were


Dubai non-oil sector sees sharp rise in activity

Dubai’s non-oil private sector continued to post a marked expansion of total business activity in June, with the rate of growth accelerating further to a new high since the Emirates NBD Dubai Economy Tracker survey began in 2010. On the other hand, rising output failed to g

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