Tuesday 19 March 2024
 
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NMC, Dubai Islamic Bank reach out-of-court settlement

NMC Healthcare group (NMC), one of the largest integrated private healthcare providers in the United Arab Emirates, and Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, have announced the amicable resolution and signing of an out-of-court settlement of all litigation, current an

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Investment app users in the UAE 'may reach 1m by 2028'

Investment app users in the UAE may exceed 1 million in 2028, while the number of app downloads may reach 47 million, say analysts of UnaFinancial.   According to data.ai, the number of downloads of investment applications increased from 67,300 in 2021 to 532,53

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DIFC forges ahead with Sustainable Finance Catalyst

Dubai International Financial Centre (DIFC) is driving actionable commitment towards climate change by implementing pledges made by finance industry stakeholders at COP28 UAE in December last year.    The Centre reaffirmed its dedication to support the fina

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Abu Dhabi Chamber and ADGM boost partnership

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a Collaboration Agreement with the Registration Authority (RA) of Abu Dhabi Global Market (ADGM) to support the business and investment environment in Abu Dhabi.    This agreement will furthe

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Top 10 Saudi banks’ performance stays robust: report

The performance of the top 10 banks in Saudi Arabia is largely robust and positive and operating income grew by 9.5 percent reflecting the effect of higher Non-Interest Income (NII), said a new study.    The year also saw NIMs improving by 3.5 percent with

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Arabian Drilling posts all-time record revenue of $930m in 2023

Arabian Drilling, a leading national onshore and offshore drilling contractor in Saudi Arabia, has posted an all-time high record revenue of SR987 million and SR3.48 billion ($930 million), for the Q4 2023 and full-year 2023 respectively.   The

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du wins licences to offer digital financial services

Emirates Integrated Telecommunications Company (EITC -du) today announced that it has received licences from the Central Bank of the UAE to offer new digital financial services.    This decision positions EITC at the forefront of the evolving fintech landsc

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UAE banking sector set for continued growth in 2024

The UAE banking sector continued its growth momentum in 2023, and is poised for further growth and recovery in 2024, thanks to the Central Bank of the UAE's (CBUAE) strategies and policies that maintained a stable and efficient banking and financial system, a report said. The CBUAE

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Bank of Sharjah acts as mandated lead arranger for $800m facility for Investcorp Capital

Bank of Sharjah, one of the leading commercial banks in the UAE, has acted as a Mandated Lead Arranger for a $800 million 4-year syndicated revolving credit facility for Investcorp Capital, alongside other international and regional banks.    The transactio

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Saudi non-oil economy hits record $453bn at constant prices

Non-oil activities in Saudi Arabia have achieved a historic milestone, reaching a 50% share of the country's real GDP in 2023, the highest level on record, according to an analysis of the General Authority for Statistics data by the Ministry of Economy and Planning.  

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