Monday 22 July 2019

Mashreq H1 net profit up 5.2pc to $326m

Mashreq, one of the leading financial institutions in the UAE, has posted net profits of Dh1.2 billion ($326.6 million) for the first half (H1) of the year, marking a 5.2 per cent increase year-on-year (YoY). Abdul Aziz Al Ghurair, Mashreq's CEO said: “I am delighted to


Abu Dhabi group Waha Capital names new CEO

Waha Capital, a leading Abu Dhabi-based investment company, has appointed Amr Al Menhali, an industry veteran, as the new chief executive officer. Al Menhali, who joins Waha Capital in September, brings with him a track record of success of nearly two decades at leading UAE banks


Dubai DED issues 2,394 new licences in June

Dubai’s Department of Economic Development (DED) issued 2,394 new licenses for various professional, commercial, industrial and tourism activities in June, a media report said. About 58.5 per cent of the new licences were professional, 38.9 per cent commercial, 1.9 per cent


DFM H1 net profit slips 21pc to $17.7m

The Dubai Financial Market (DFM) has registered a net profit of Dh65.1 million ($17.7 million) during the first half (H1) of the year, compared to Dh82.8 million during H1 2018, marking a 21 per cent decrease, a media report said. The net profit of the second quarter of 2019 reac


Emirates NBD to open 20 new branches in Saudi Arabia

Emirates NBD, a leading banking group in the region, has announced plans for further expansion in Saudi Arabia, following the approval from the Saudi Arabian Monetary Authority (Sama) to open 20 additional branches in the kingdom.   The announcement reflects Saudi Arabia&rsqu


Sharjah finance team in Japan to boost ties

A delegation from Sharjah Finance Department (SFD) recently visited Tokyo, Japan, and held meeting with their Japanese counterparts to discuss various possibilities aimed at strengthening relationships between the two countries. The meetings were held at the Japan Bank for Intern


Bahrain among top 60 for economic openness

Bahrain is ranked 57th in the world, achieving its highest scores in economic openness and quality of institutions, said a top official. Ramachandran Narayanan, partner and head of Advisory at professional services firm KPMG in Bahrain, was commenting on KPMG’s 2019 edition


UAE’s national bank assets hit $457bn in H1

Total assets of the UAE’s six national banks totalled Dh1.68 trillion ($457 billion) in the first half of 2019, an increase of Dh170 billion ($46.2 billion), or 11.2 percent, compared to Dh1.51 trillion in the same period of 2018. The sector’s activity is highlighted


Bahrain-origin exports rise 6pc to top $1.5bn in Q2

The value of Bahrain’s exported national origin products increased by 6 per cent in the second quarter (Q2) of the year, reaching BD595 million ($1.56 billion) versus BD561 million for Q2 2018, said the iGA in a new report. The value of Bahrain’s exported national ori


SWIFT launches enhanced gpi service for corporates

SWIFT, a global leading provider of secure financial messaging services, has announced the further enhancement of its gpi service with the full go-live of SWIFT gpi for corporates. The capability is designed and built in conjunction with banks and corporates which enables multi-b

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