Sunday 25 August 2019

UAE to play lead role investing in Zimbabwe

Bilateral relationship between the UAE and Zimbabwe will grow to be three times greater than that of today in the near future, said the UAE Ambassador to Zimbabwe, Mahash Saeed Salem Mahash Al Hameli. The Ambassador was quoted while recently leading a high level delegation and pa


Waha Capital reports $49m H1 loss; plans new strategy

Waha Capital, a leading investment company in Abu Dhabi, has reported a net loss of Dh182.2 million ($49.33 million) for the first half (H1) of this year.     The company’s Asset Management business recorded a solid performance, while its Private


Shuaa Capital's revenue up 54pc in H1

Shuaa Capital, a premier financial services company in the UAE, said its revenues for the second-quarter increased to Dh47.5 million ($13 million), up from Dh30.8 million ($8.38 million) from the corresponding 2018 quarter thus representing an increase of 54.4 per cent.  


Saudi Tadawul to start MSCI final phase on August 28

Saudi Stock Exchange (Tadawul) is all set to launch the second and last phase of MSCI inclusion on August 28, based on closing prices of the previous day, according to MSCI Equity Indexes August 2019 Index Review issued recently.   The inclusion will increase th


GFH posts $49m first half net profit

GFH Financial Group (GFH) today said its net profit attributable to shareholders for the first half of 2019 was $49.1 million compared with $72.5 million in the prior-year period, a decrease of 32.3%.    However, excluding the one-off recovery income and re


Saudi Re H1 net profit before Zakat rises 203pc

Saudi Reinsurance Company (Saudi Re) has recorded a net profit before Zakat of SR42.6 million ($11.35 million) in the first half (H1) of 2019, an increase of 203 per cent from SR14 million in the same period last year. The Company achieved growth in operating results (the results


GCC fiscal reform progress will remain slow: Moody’s

Although policy measures have slowed fiscal deterioration linked to lower oil prices in the GCC, most sovereigns will continue to run fiscal deficits and accumulate debt if prices remain moderate as expected, Moody's Investors Service said. At the current moderate oil price l


Ithmaar Holding profits surge 20pc

Ithmaar Holding, a Bahrain-based holding company, reported a net profit of $13.03 million for the six-month period ended June 30, a 20.4 percent increase compared to the net profit of $10.82 million reported for the same period in 2018.     The company


Blockchain can revolutionise trade: SABB

Some of Saudi Arabia’s largest importers and exporters were shown the future of trade at a workshop on Blockchain technology arranged by SABB, a leading international bank in the kingdom.   Blockchain technology has already been trialed in trade transactio


UAE’s 18 national banks post $6.6bn in H1 profit

The combined net profits of 18 national banks listed on the country’s financial markets rose to Dh24.5 billion ($6.6 billion) in the first half of 2019, compared to Dh21 billion in the same period of 2018, an increase of 16.6 per cent. The total profits of the seven banks l

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