Monday 20 May 2019

Deloitte appoints managing partner for Oman

Deloitte, a leading provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services, has appointed Ahmad Al Qassabi as managing partner of the firm’s Oman practice, effective June 1. Al Qassabi replaces Anis Sadek who retires from th


ECI signs MoU with ADCB to support UAE businesses

Etihad Credit Insurance (ECI), the UAE Federal credit insurance company, has signed a memorandum of understanding (MoU) with Abu Dhabi Commercial Bank (ADCB), one of the UAE’s leading full-service commercial banks that is known for its digital and secure banking applications and


Finablr celebrates London Stock Exchange listing

London  Stock  Exchange  today (May 18)  welcomed  Finablr,  a  global  payments  and foreign exchange company, to open London’s markets for trading and celebrate the listing of the company’s shares  on the premium segment of the M


Adnic, FAB to launch new UAE digital wallet

Abu Dhabi National Insurance Company (Adnic) said it has signed a partnership agreement with First Abu Dhabi Bank (FAB) to offer customers new payment options through Payit, the UAE's first fully-featured digital wallet.   The payit was launched by First Abu


Shuaa Capital posts 67pc revenue growth in Q1

Shuaa Capital, a premier financial services company in the UAE, has registered a 67 per cent growth in its revenue for the first quarter which rose to Dh55.4 million ($15 million) from Dh33.2 million last year. The company however reported a Dh24.9 million net loss for the first


NBB to provide open banking services

National Bank of Bahrain (NBB) has today (May 15) become the first bank in the Mena region to adopt technologies that enable it to deliver new open banking services to its customers. Open banking enables account holders to share their account information and payment history exter


Majid Al Futtaim marks listing of sukuk on Nasdaq Dubai

Majid Al Futtaim, a leading shopping mall and leisure pioneer, today (May 15) rang the market-opening bell at Nasdaq Dubai to mark the listing of the world’s first benchmark corporate Green Sukuk and the first Green Sukuk issued by a corporate in the region. Valued at $600


GFH Q1 net profit dips 41.4pc to $21.36m

Bahrain-based GFH Financial Group (GFH) has posted a net profit of $21.36million for the first quarter (Q1) of the year compared with $36.48 million in the prior-year period, a decrease of 41.44 per cent. For the period, the Group reported a 6.47 per cent increase in revenues, wh


UAE national banks lend $3.6bn to businesses in Q1

UAE national banks provided Dh13.3 billion ($3.6 billion) in loans in the first quarter (Q1) of the year to the industrial and business sectors, a media report said. This brings the total credit facilities obtained by the two sectors by the end of March to Dh699.1 billion compare


Burgan Bank posts $63.1m net profit for Q1

Kuwait-based Burgan Bank has reported a net income of KD19.2 million ($63.10 million) for the first quarter of this year. The bank's revenue for the perid was KD50.3 million ($165.3 million), while it maintained a healthy net interest margin of 2.7 per cent; operating profit

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