Monday 20 November 2017
 
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Assets of UAE traditional banks hit $571bn

The assets held by traditional banks operating in the UAE surged to Dh2.103 trillion ($571 billion), accounting for 79.6 per cent of the total assets of the country's banking apparatus until the end of September, a report said.

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Saudi wealth fund eyes $2 trillion AUMs by 2030

Saudi Arabia’s sovereign wealth fund Public Investment Fund (PIF) aims to have at least $2 trillion of assets under management by 2030, said its managing director in his first-ever interview. Speaking exclusively to Bloomber

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UAE banks lead GCC with $723 billion in assets

The UAE banking system has been ranked the top banking sector in the Gulf region in terms of assets in the first half of 2017, while the total assets of the 48 banks operating in the country reached Dh2.66 trillion ($723 billion) for 2016.

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Dubai ICD's portfolio grows 6.9pc to $209.5bn

The Investment Corporation of Dubai (ICD) has announced its consolidated financial results for the year ended  December 31, 2016 demonstrating robust revenues of Dh176.3 billion ($48 billion) and a net profit of Dh22.1 billion ($6 billion).

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Bahrain banking sector ‘remains resilient’

The overall outlook for the GCC’s banking sector is positive and Bahrain is fairing particular well, said a listed banks report from global professional services company KPMG. The report, which covers over 90 per cent of the

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Qatar First Bank maintains assets value at $1.64bn

Qatar First Bank’s (QFB) total assets didn’t decline during 2016 despite the write-down of QFB’s investment book and closed at almost QR6 billion ($1.64 billion), mainly driven by the increase from financing assets, which incre

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Aldar Properties 2016 net profit surges to $762m

Aldar Properties, a leading property development company in Abu Dhabi, UAE, has reported a eight per cent jump in its net profit for the financial year ended December 31, 2016 which soared to Dh2.8 billion ($762 million) from Dh2.6 billion ($707

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Eltizam seals key UAE leasing, management pacts

UAE-based Eltizam Asset Management Group said its subsidiaries - Three60 Communities, Three60 Leisure, and Re/Max 360 - have been awarded new leasing and management contracts at Dubai International Financial Centre (DIFC) and on Reem Island in A

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HeidelbergCement sells US assets for $660m

German cement and aggregates producer HeidelbergCement has agreed to sell assets in the United States to fulfill anti-trust requirements for its takeover of Italcementi, it said on Thursday. HeidelbergCement said it has agreed to

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Mideast sovereign funds sell assets as low oil bites

Middle Eastern sovereign wealth funds liquidated or cancelled investments worth about seven per cent of their total assets last year, according to a study released on Monday by asset manager Invesco, in a sign of pressure from low oil prices.

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