Monday 20 May 2019

ADFG in global tie-up to develop coworking hub

Abu Dhabi Financial Group (ADFG), a leading global investment group, has entered into a strategic partnership on developing a platform for innovation hubs and coworking spaces known as “500 Spaces”. The memorandum of understanding (MoU) was signed with GS SHOP, South


MedGulf signs audit services deal with SRB

The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MedGulf) has signed a multi-year agreement with Shariyah Review Bureau (SRB) for its Sharia audit services as part of its Sharia compliant transformation strategy. Under the agreement, SRB will review and a


ADCB Q1 net profit down 5pc to $314m

Abu Dhabi Commercial Bank has reported a net profit of Dh1.152 billion ($424 million) for the first quarter (Q1) of the year, five percent lower, impacted by higher cost of funds, partially offset by higher non-interest income and lower impairment charges. The results are for the


Dubai launches digital wallet for paying govt fees

Dubai's Department of Finance (DOF), in collaboration with Smart Dubai and emaratech, has launched a digital wallet to facilitate the payments for government service fees. The new payment channel, 'noqodi', enables individual and corporate customers to pay quickly, ea


GCC Islamic banks to stay resilient in 2019-2020: S&P

Islamic banks in the GCC are expected to show resilience over the next two years after weathering tough market conditions in 2018, said S&P Global Ratings in a new report. "In 2018, GCC Islamic banks expanded slower than conventional peers for the first time in five year


Al Tamimi advises on Network International's IPO

Al Tamimi & Company, a leading law firm in the Middle East, was a member of the legal advisory team on the recent successful initial public offering (IPO) of Network International Holdings on the London Stock Exchange. Network International is the leading enabler of digital c


SatSure startup wins Imkan innovation award

SatSure, a geospatial data analytics company which leverages advances in satellites, machine learning, and big data analytics, has won the Imkan Innovation Award worth $10,000 at startAD’s Venture Launchpad. Organized by startAD, the Abu Dhabi based global accelerator power


Abu Dhabi non-oil foreign trade tops $9.7bn in 2 months

The value of non-oil foreign merchandise trade through Abu Dhabi ports increased 11.5 per cent from Dh32.1 billion ($8.73 billion) in Jan-Feb. 2018 to Dh35.8 billion ($9.74 billion) in the same period of 2019. This was the result of a 47.0 per cent increase in re-exports from Dh


Lockton Mena appoints new CEO

Lockton Mena, a leading professional services firm, has announced the appointment of its new chief executive officer, Ata Khatib. Based in the Dubai International Financial Centre, Khatib will provide executive leadership of the world’s largest private insurance broker&rsqu

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