Sunday 19 August 2018

New orders drive Dubai non-oil sector output in July

Dubai’s non-oil private sector recorded continued improvement during July, stimulated by a further expansion in new orders, while business confidence remained strongly positive, according to the latest Emirates NBD Dubai Economy Tracker. Dubai’s non-oil private sector


Profitability ‘stable for UAE’s 4 top banks in 2019’

Higher net interest income and lower provisions drove profits higher for the four largest banks in the UAE in the second quarter (Q2) of 2018 with profitability likely to remain stable into 2019, Moody’s said in a new report.  "We expect core profitability for the


ICD benefits from robust capital, liquidity: Moody’s

The Islamic Corporation for the Development of the Private Sector benefits from a robust capital position and strong liquidity, although its weak asset quality remains a challenge, said Moody’s in its annual Credit Analysis report. The Islamic Corporation for the Developmen


Emirates Islamic offers incentive on EV financing

Emirates Islamic, a leading Islamic financial institution in the UAE, is encouraging customers to Go Green by offering up to 100 per cent discounts on processing fees for auto financing on electric vehicles. The bank is the exclusive Islamic Banking Partner for Expo 2020 Dubai an


StanChart names new chief risk officer

Standard Chartered has appointed Faisal Abu Shaar as chief risk officer, Middle East; Country chief risk officer UAE; and head, Risk, Islamic Banking. Abu Shaar  has been with the Bank for the last seven years and has held various roles including senior credit officer, Singa


Dubai Chamber eyes India jewellery sector

The Dubai Chamber of Commerce and Industry recently concluded a study mission to India which explored business opportunities within the country’s gems and jewellery sector. The study mission included visits to Mumbai and Delhi and coincided with the India International Jewe


ADGM Courts sets up fully digital court platform

Abu Dhabi Global Market (ADGM) Courts said it has embarked on an end-to-end transformation to deliver fully digital courts for the first time in the judicial and legal system. Established in 2015, Abu Dhabi Global Market is Abu Dhabi’s international financial centre. It has


Takaful Emarat adopts service solution for Apple devices

Takaful Emarat, the DFM-listed Shariah-compliant life and health takaful provider said that has signed a deal to become the first insurance company in the Middle East to use Device-as-a-Service solution for Apple devices through MDS. Takaful Emarat has quickly deployed Apple devi


UAE most competitive economy in Mena: report

The United Arab Emirates (UAE) has the most competitive economy in the Mena region, said a new study from the World Bank Group and the World Economic Forum. The Arab World Competitiveness Report 2018, launched today, ranked the UAE as the 17th most competitive country in the worl


UAE issues fresh banknotes ahead of Eid

The Central Bank of UAE has issued fresh currency notes of various denominations ahead of Eid Al Adha and the holiday season to meet the demand for new banknotes. In a statement today, the Central Bank said all banks operating in the country have been notified to take all necessa

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