Wednesday 26 July 2017

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FIRST POST-MERGER RESULTS
Abu Dhabi's FAB posts H1 profit of 1.49 billion

First Abu Dhabi Bank (FAB), the UAE’s largest bank, has reported consolidated pro-forma financial results for the first time post-merger, delivering a resilient performance amidst softer economic conditions.

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1

6.3PC JUMP IN ARRIVALS
DXB passenger traffic tops 43m in H1

Passenger traffic at Dubai International (DXB) surpassed 43 million in the first half of 2017, according to the traffic report issued today by operator Dubai Airports.

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2

ROBUST REVENUE GROWTH
UAE developer Nakheel posts $718m H1 net profit

Leading UAE developer Nakheel has announced a net profit of Dh2.64 billion ($718.6 million) for the first six months of 2017 compared to Dh2.95 billion ($803 million) for the same period last year.

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3

SPOTLIGHT
Uncovered: School for credit card fraud gangs

By analyzing hundreds of criminal forums, Digital Shadows, leader in digital risk management, has discovered a new trend in the form of remote learning ‘schools’ pointing to an ecosystem enabling fraudsters to up-skill themselves.

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4

ANALYSIS
Why GCC will find it hard to diversify from hydrocarbons

The GCC economies' high concentration and dependence on the hydrocarbon sector, which averaged about 30 per cent of GDP over 2015-2016, could become a credit negative factor when not offset by substantial financial buffers, a report said.

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5

NEWS IN PICTURES
A big 'Modhesh' welcome

Modhesh, the macot for Dubai's's popular indoor edutainment destination Modhesh World, recently greeted travellers from Bahrain at Terminal 2 in Dubai International Airport, where he posed for photos and gave away free theme park passes.

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Top Trade News

icondown

Industry Sectors

Construction & Real Estate

Union Properties names new CEO

Union Properties, one of the leading property investment developers in the UAE, has appointed Ahmed Yousef Abdulla Hussain Khouri as its new chief executive officer.

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Retail & Wholesale
Energy, Oil & Gas

Abu Dhabi group to set up $150m Vietnam petchem JV

UAE-based Baron Point Petroleum has reached a deal with PetroVietnam Oil Corporation (PV Oil) to set up a $150-million joint venture to finance, build and operate petroleum product pipelines and storage space in the country.

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Finance & Capital Market

Abu Dhabi's FAB posts H1 profit of 1.49 billion

First Abu Dhabi Bank (FAB), the UAE’s largest bank, has reported consolidated pro-forma financial results for the first time post-merger, delivering a resilient performance amidst softer economic conditions.

More…
Analysis, Interviews, Opinions

Why GCC will find it hard to diversify from hydrocarbons

The GCC economies' high concentration and dependence on the hydrocarbon sector, which averaged about 30 per cent of GDP over 2015-2016, could become a credit negative factor when not offset by substantial financial buffers, a report said.

More…
Industry, Logistics & Shipping

Swisslog to showcase latest robot systems at Dubai event

Swisslog Warehouse & Distribution Solutions (WDS), a leading automation expert, will showcase its latest solutions at the Materials Handling Middle East exhibition, to be held in September, in Dubai, UAE.

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Travel, Tourism & Hospitality

DXB passenger traffic tops 43m in H1

Passenger traffic at Dubai International (DXB) surpassed 43 million in the first half of 2017, according to the traffic report issued today by operator Dubai Airports.

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Lifestyle

New limited edition City Umbra makes indelible impact

With its exclusive elliptical shape, and based on its longstanding jeweller expertise, deLaCour has developed its City model and given birth to a new Haute Joaillerie timepiece in a limited edition of eight pieces.

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Motoring

BMW to enable electrification of all model series

BMW Group has revealed that electrification is a central pillar of its new strategy and all brands and model series can be electrified, with a full-electric or plug-in hybrid drivetrain, in addition to the combustion engine option.

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Health & Environment

$1bn Bahrain medical city project makes headway

Bahrain's Works Ministry will be carrying out the infrastructure works for the $1-billion King Abdullah Medical City, a massive healthcare project being developed on a one-million-sq-m area at Durrat Al Bahrain in the south of the kingdom.

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Media & Promotion

Compareit4me rebrands to yallacompare

Compareit4me.com, a leading comparison site in the Middle East, has launched its brand identity. As of today (July 26), the website will be known as yallacompare.

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Education, HR & Training

NYU Abu Dhabi partners with Etihad Cargo for summer course

UAE-based New York University Abu Dhabi (NYUAD), a research university with a fully integrated liberal arts and science college, has partnered with Etihad Cargo for a unique intensive four-week summer course.

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