Tuesday 25 February 2020

Failure to understand risk impeding corporate growth

The failure by senior managers to understand how risk management enhances corporate decision-making means many organizations based in Mena are not fully capitalizing on growth opportunities, a report said. Although almost half (47 per cent) of senior business leaders believed the


Marakeb and Fincantieri sign MoU

Marakeb Technologies, a leading autonomous technology provider, and Fincantieri, one of the world’s largest shipbuilding groups, signed a Memorandum of Understanding in order to explore global collaboration opportunities in the field of autonomous technology.   


PraxisIFM manages end-of-service benefit system

PraxisIFM, a financial firm licensed at Abu Dhabi Global Marketplace, is helping to manage the end-of-service benefit system in the UAE.   PraxisIFM now has under management $100 million of funds that UAE entities have ring-fenced for gratuity payments to staff


UAE leading $2.5bn Mena fintech market: experts

The UAE is leading the Mena region’s fintech market reaching a record-high of $2.5 billion by 2022, said industry experts ahead of the Middle East Financial Technology (MEFTECH) running on February 25 and 26 in Dubai, UAE. Regional and multi-national financial institutions


Sharjah Islamic 2019 net profit up 7pc to $148m

Sharjah Islamic Bank (SIB) has reported a net profit of Dh545.5 million ($148.5 million) last year, an increase of seven percent compared to 2018, when profits reached Dh510.4 million, a media report said. During the 44th General Assembly of the bank on Saturday, 10 percent of th


Expatriates in UAE remit $45bn in 2019

Expatriates’ remittances from the UAE amounted to some Dh165 billion ($45 billion) in 2019, a media report said, citing figures released by the Central Bank of the United Arab Emirates. The fourth quarter (Q4) of last year saw an increase of 1.8 per cent over the comparable


UAE achieves 2.9pc GDP growth in 2019

The UAE's overall real gross domestic product (GDP) is estimated to have grown by 2.9 percent in 2019, the Central Bank of the UAE revealed.   According to the Central Bank's 'Quarterly Review Report' for Q4 of 2019, this rise in GDP was driven b


Global cooperation on COVID, economy needed: IMF

The international community must work together to contain the human and economic impact of COVID-19, the IMF Managing Director Kristalina Georgieva has urged.   Cooperation is required to further reduce uncertainty over global trade, she said in a statement issu


UAE, Saudi in tie-up to back cross-border trade

Etihad Credit Insurance (ECI), the UAE Federal export credit company has partnered with the Saudi Fund for Development (SFD) for financing and providing credit insurance to protect non-oil exports of the UAE and Saudi Arabia. This collaboration marks a favourable step in strength


Kuwait banks seen stable despite subdued growth: S&P

The overall credit profiles of rated banks in Kuwait should remain stable in 2020, barring any unexpected increase in geopolitical risk or a major fall in oil prices, S&P Global Ratings said in a new report published on RatingsDirect. "Cost of risk (CoR) should further d

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