Monday 6 April 2020
 
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StanChart commits $1bn funding for firms helping to fight virus

Standard Chartered announced today that it will commit $1 billion of financing for companies that provide goods and services to help the fight against Covid-19, and those planning the switch into making products that are in high demand to fight the global pandemic.   

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Letters of guarantee surge to Dh4.533 trillion in February

The total cumulative balance of letters of guarantee and other credit facilities provided by banks and other business entities in the UAE significantly grew to Dh4.533 trillion ($1.23 trillion) in February, 2020, an increase of Dh186 billion, or 4.3 per cent approximately, from Dh4.347 trilli

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UAE's letters of guarantee surge to $1.2 trillion in February

The total cumulative balance of letters of guarantee and other credit facilities provided by banks and other business entities in the UAE significantly grew to Dh4.53 trillion ($1.2 trillion) in February, according to the Central Bank of the UAE statistics.   A

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SAMA takes new steps to help private sector, individuals

The Saudi Arabian Monetary Agency (Sama) has approved a package of new measures supporting the efforts to mitigate the impacts of the spread of the Coronavirus (COVID-19) pandemic on various economic sectors.   SAMA said the measures include supervisory and prec

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Savills welcomes Dubai Free Zones stimulus package

Leading real estate advisor Savills said the announcement of the economic stimulus package for Dubai Free Zones, under the directive of Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, will help to ease the burden on corporate tenants.

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UAE gross bank assets top $840bn in February

The UAE gross bank assets, including bankers’ acceptances, rallied 0.5 percent from Dh3.080 trillion ($840 billion) in January 2020 to Dh3.095 trillion ($842 billion) by the end of the following month, a media report said. Gross credit in the banking system likewise grew 0.

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Bahrain ratings stable, says S&P Global Ratings

S&P Global Ratings has revised its outlook on Bahrain to stable from positive on expectation of extraordinary support from other GCC sovereigns, which it stated, was likely to enable the kingdom to continue implementing fiscal reforms.   Despite efforts to i

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Solidarity Bahrain approves 15pc cash dividends for 2019

Solidarity Bahrain, one of the largest insurance companies in the kingdom, has announced that its shareholders had approved the company board's recommendation to distribute 15 per cent cash dividends (equivalent to 15 fils per share) for 2019.   A subsidiary

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UAE's February gold reserves surge to $1.53bn

The Central Bank of the UAE's gold reserves surged 38.8 per cent to hit Dh5.62 billion ($1.53 billion) in February from Dh4.04 billion ($1.1 billion) in December last year.   Statistics issued by the apex bank showed its reserves of gold grew exponentially s

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51 UAE firms to pay $10bn in dividends for 2019

Fifty-one companies listed in the UAE capital markets are expected to pay Dh36.91 billion ($10 billion) in cash dividends for 2019, according to data released by these firms until March 23, a media report said. Banks are the largest distributors of profits, with 11 Emirati banks

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