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Sohar Islamic expands network with 9 new branchesSohar Islamic, Sohar International’s Islamic arm, has started operations at its 9 new branches located in Al Buraimi Governorate and the Wilayats of Al Jabal Al Akhdar, Al Mazyona, Sinaw, Saham, Al Suwaiq, Al Amerat, Quriyat and A’ Seeb. Thes More… |
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Pathfinder announces $325m Silver Rock investmentPathfinder, a leader in pioneering retail technology solutions, has announced an investment of $325 million from Silver Rock Group. This equity line of credit coincides with Pathfinder's upcoming NASDAQ listing, marking a critical phase in the compan More… |
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Dubai Islamic posts solid H1 growth; net profit up 8.6%Dubai Islamic Bank (DIB) has registered solid growth for the first six months with the group's net profit surging 8.6% YoY to hit AED3.38 billion ($920 million), while its total income rose to AED11.2 billion ($3.04 billion) from last year's figure of AED9. More… |
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GCC banks show strong appetite for global expansionGulf Cooperation Council (GCC) banks are showing a strong appetite to grow their presence in major regional markets, particularly Turkiye, Egypt and India, attracted by improving economic conditions and better growth opportunities. Several GCC banks are report More… |
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ADCB sets up corporate banking hub in KazakhstanAbu Dhabi Commercial Bank is expanding its strategic presence in Central Asia – a $1.751 trillion economy – by establishing a hub in Kazakhstan for its sophisticated Shari’ah compliant corporate banking services. By deploying its expert More… |
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KIB Group’s H1 net profit soars 103pc to $39.24mKuwait International Bank (KIB) has seen its first-half (H1) net profit soar 103% to KD12 million ($38.24 million). KIB’s total assets grew to reach almost KD3.50 billion. This growth was the result of an increase in the size of financing portfolio which More… |
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Some 84pc of UAE investors likely to invest in future IPOs: surveyUAE investors have shown significant appetite for IPO offerings in 2024, with a majority (84%) of UAE investors expressing their readiness to invest in future IPOs. These are the findings from the landmark UAE Investor Pulse Survey 2024, conducted by Edelman S More… |
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EITC Q2 net profit jumps 46.3pc to record $158.2mEmirates Integrated Telecommunications Company (EITC) has seen its second-quarter (Q2) net profit jump 46.3% to record AED581 million ($158.2 million) as revenues rose 7.3% to AED3.6 billion on its strong product offerings. EBITDA increased by 3.2% to AED1.6 b More… |
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India boosts spending on jobs, rural area in first post-poll budgetIndian PM Narendra Modi's first post-election budget struck a balance between greater spending on jobs and rural development while narrowing the fiscal deficit in its 2024-25 budget unveiled on Tuesday, after last month's election setback for the government. More… |
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Natural Ventures announces first close of $100m fundNatural Ventures, an impact-focused venture capital fund that addresses global food and water security, has announced the first close of its inaugural $100 million fund. Natural Ventures takes an impact-driven approach to investing in and supporting the drive More… |
