Monday 20 August 2018
 
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UAE, Saudi Arabia non-oil sector growth eases in July

The UAE’s non-oil private sector showed the slowest rate of growth in three months during July, said Emirates NBD in its latest PMI survey, adding that both the UAE and Saudi Arabia recorded softer growth in output and new work than June. The Emirates NBD Purchasing Manager

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ADX listed firms distribute $6bn cash dividends

Abu Dhabi Securities Exchange (ADX), the region’s leading financial market, has distributed more than Dh23.4 billion ($6.37 billion) in cash dividends to around 406,000 investors on behalf of listed companies in 2018,a media report said. The cash dividends paid out by liste

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Bahrain Mumtalakat sells key stake in US education group

Bahrain Mumtalakat Holding Company, the country’s sovereign wealth fund, has sold its stake in Nobel Learning Communities, one of the leading providers of private education in the US (from pre-school to high school).   Nobel Learning Communities has a netw

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IFSB, UBM sign agreement for international cooperation

The Islamic Financial Services Board (IFSB) and the Union des Banques Maghrébines (UBM) have signed a memorandum of understanding (MoU) to facilitate international cooperation between the two organisations in relevant activities. Under the agreement, the two organisations

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Dubai Rera partners with CBD on escrow services

The Real Estate Regulatory Agency (Rera) at Dubai Land Department has signed a partnership agreement with Commercial Bank of Dubai (CBD) for offering escrow account management services to Owners’ Association (OA) communities in Dubai. Through this agreement, CBD, under the

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Saudi Arabia sees sharp fall in H1 fiscal deficit

Saudi Arabia has reported a sharp improvement in fiscal deficit in the first half (H1) of the year, coming in at SR41.7 billion ($11.1 billion), much lower than 50 per cent of SR195 billion projected for the full year by the government, a report said. H1 revenues now stand at&nbs

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