Sunday 22 September 2019

Oman's export agency Ithraa names new CEO

Oman-based Ithraa, a leading inward investment export development agency, has appointed Azzan Al Busaidi as its new chief executive officer.   Founded in 1996, Ithraa is a government-run organisation that provides a range of support services and information to h


UAE groups plan $10bn investment in Bangladesh

Leading UAE business groups have announced plans to invest a total of $10 billion into Bangladesh, in a major boost to the country's economy which last year grew at 7.9 per cent, said a report.   Bangladeshis are major investors in the UAE economy where more


ADX distributes $7bn in cash dividends to investors

Abu Dhabi Securities Exchange (ADX) announced that it has distributed more than Dh25 billion in cash dividends to 572,774 eligible investors on behalf of its listed companies.   In comparison to the 2018 dividends, the 6.95% increase demonstrates the attractiven


Trust in UAE banking sector rises to 74pc: UBF

Seventy-four per cent of the respondents to a survey had high trust in the UAE banking sector, up from 68 per cent in 2017, said the UAE Banks Federation (UBF) in its 2018 Trust Index Survey. This is the fourth consecutive year UBF carries out this survey. The surv


DFM launches e-service for dividend payout

The Dubai Financial Market (DFM) has launched the "myAccount" service, an electronic account that enables investors to transfer dividend amounts to their iVESTOR Card accounts, bank accounts, as well as to pay for IPOs and right issues subscription. Essa Kazim, chairman


Bank ABC's ‘Fatema’ is world's first Digital DNA Human

Bank ABC and Soul Machines, a New Zealand based deep science and technology company, have announced that “Fatema,” a fully autonomous, AI-driven digital human, will be an integral part of the bank’s customer experience.    The ‘digit


Emirates NBD to launch voice banking via Alexa

Emirates NBD plans to launch voice banking to customers in the UAE, enabling them to get banking updates, track spends as well as listen to daily market briefings on their Amazon Alexa devices powered by Amazon Web Services (AWS). Using the Emirates NBD skill for Amazon Alexa, cu


Bahrain EDB appoints new chief executive

The Bahrain Economic Development Board (EDB) has announced the appointment of Khalid Humaidan as chief executive, effective immediately.    Humaidan will be responsible for leading the EDB in attracting further investments into the kingdom that will contrib


ADCB in deal to sell majority of its India banking portfolio

Abu Dhabi Commercial Bank (ADCB) has agreed to sell the majority of its India banking portfolio to DCB Bank and will exit its operations in India subsequent to the transaction, subject to regulatory approvals.    In a statement posted on the Abu Dhabi Secur


UAE banks' 3-month deposits hit $145bn in July

The total value of three-month deposits in UAE banks amounted to Dh532 billion ($145 billion) in July, 2019, a 6.2 per cent growth of Dh31.22 billion as compared to the preceding month, a media report said. Three-months deposits, which have been steadily growing over the recent m

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