Tuesday 31 March 2020

UAE listed firms post market cap gains of $16.6bn

The UAE financial markets continued their rebound for the second straight day, with listed companies posting Dh61 billion ($16.6 billion) combined gains in market cap mainly driven by the stimulus packages.   Driven by country-level economic incentives and stimu


CBI to support corona-hit customers

Commercial Bank International (CBI) has announced a series of measures to support their customers impacted with coronavirus (COVID-19) across the United Arab Emirates.   CBI’s impacted Wholesale, Islamic and Business Banking clients will be entitled to app


Khalifa bin Zayed issues law turning ADX to PJSC

UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan, in his capacity as Ruler of Abu Dhabi, issued a law regulating the legal status of Abu Dhabi Securities Market, turning it into a public joint shares company (PJSC) that is fully owned by ADQ.   It&#


US deal on $2 trillion stimulus package

The White House and Senate leaders in the US struck a major deal early Wednesday morning over a $2-trillion package to provide a boost to an economy struggling amid the coronavirus pandemic, a CNN report said.   The deal caps days of marathon negotiations that p


NBB extends support to individuals

In an effort to remain closer to customers and the wider community, the National Bank of Bahrain (NBB) has implemented a number of initiatives to provide relief measures to its individual customers in the wake of the COVID-19 pandemic.   The initiatives include:


BBK to disburse $135m as dividend for 2019

Bahrain-based BBK’s recently held ordinary general assembly approved the Board of Directors’ recommendation to distribute BD51,374,480 ($135.1 million) as cash dividends for the year 2019. At 40 fils per share, this is equivalent to 40 per cent of the paid-up capital.


Top 5 banks' investment banking revenue falls to $26bn

The five largest global banks hit $26.1 billion in investment banking revenue in 2019, 3 per cent down on the year over trade tensions, slow growth, and low-interest rates, according to data gathered by


BBK to distribute $135m cash dividends for 2019

Bahrain-based BBK, a leading bank in the region, has announced that its ordinary general assembly has approved the board of directors’ recommendation to distribute BD51.4 million ($135.3 million) as cash dividends for the year 2019. At 40 fils per share, this is equivalent


14 companies added to Abu Dhabi group

Abu Dhabi Developmental Holding Company (ADDH), one of the region’s largest holding companies, today unveiled a new brand identity, to become ADQ. The announcement coincides with ADQ’s new phase of growth with the addition of 14 companies to its portfolio.   


Ithmaar Bank announces revised branch and office timings

Ithmaar Bank, a Bahrain-based Islamic retail bank that operates one of the largest retail banking networks in the kingdom, has announced revised branch and office timings, as well as additional precautions to help contain the Coronavirus (COVID-19) virus.   Ithm

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