exchange experiences and making use of this interactive communicative forum for launching youth projects. – Emirates News Agency, WAM – http://www.wam.ae/en/news/emirates-international/1395301786614.html
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CBD posts Dh701.5m in nine-month net profits
Dubai: Commercial Bank of Dubai (CBD) posted a net profit of Dh701.5 million for the first nine months of 2016, 23.4 per cent lower compared to Dh915.3 million for the same period last year. The bank attributed the decline in profit to prudent provisioning.
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Saudi bond coup seen strengthening banks seeking Aramco IPO role
Dubai: Banks that helped Saudi Arabia raise a record $17.5 billion (Dh64 billion) last week will next turn to an even bigger prize: landing a role on the potential $100 billion initial public offering (IPO) of Saudi Arabian Oil Co. HSBC Holdings Plc …
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Banks team up to expand sustainable financing
National Bank of Abu Dhabi (NBAD), Commercial Bank of Dubai, Dunia Finance, Emirates NBD, HSBC, National Bank of Fujairah, RAKBank and Union National Bank signed the Dubai Declaration on Tuesday. The deal, at the Unep Finance Initiative Global Roundtable …
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UAE Exchange to acquire remittances business Remit2India
Dubai: UAE Exchange, a remittance, foreign exchange and payment solutions company, has reached a deal to acquire the online remittance business Remit2India from TimesofMoney, India. The value of the transaction has not been disclosed. Founded in 2000 …
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UAE joins the club of top 10 improvers globally in ease of doing business
Dubai: The UAE ranked top among Arab countries in the World Bank’s ease of doing business report ‘Doing Business 2017: Equal Opportunity for All’. It also figures in the list of the world’s top 10 improvers, based on reforms undertaken. Others in …
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PICS: $11m makeover for Emirates' Dubai Business Class lounge
“One day when I’m big…”, “I hate you so much right now…” or “Amazing, a business class upgrade is my dream…” are but some of the comments you’ll most likely receive when you brag, yes brag about making a long-haul journey all deftly snuggled up in …
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Local banks to continue helping struggling SMEs
Local banks will continue to help struggling small businesses restructure debt even after President Sheikh Khalifa ratified a bankruptcy law, according to a spokesman at the UAE Banks Federation. The federation said in September that an initiative among …
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Gulf Banks Feel the Pain as Investors Wonder What Will Come Next
Banks from Saudi Arabia to Dubai are feeling the pain of the Middle East’s slowdown. Many of the region’s largest banks missed analysts’ earnings estimates in the third quarter as lenders provisioned for higher bad loans and funding costs increased.
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Business confidence in UAE, rest of GCC hold up despite uncertainty
Dubai: Confidence of business owners in the UAE and the rest of the Gulf Cooperation Council (GCC) region is holding up despite the current challenging economic climate. A survey conducted among 196 business leaders in the GCC over the past six months …
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Guga banking on major upset
The UAE Beach Soccer coach is confident of a first major upset as his team readies to take on three-time world champions Brazil in their opening match of the Sixth Samsung Beach Soccer Intercontinental Cup Dubai. The five-day tournament that brings …
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UAE Mars Mission: Laying the foundation of a space industry
We are currently in the subsystem design phase, which should be completed by the end of the year,” Omran Sharaf, Project Manager of the UAE Mars Mission, told Gulf News during a visit to the Mohammad Bin Rashid Space Centre (MBRSC). The mission is not …
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Water released into Dh2b Dubai Canal
Dubai: Dubai Canal is set to open next month with work on the Dh2 billion project moving on schedule, Gulf News can confirm. Water has been released in Dubai Canal for the first time during its three year period of construction as part of a testing process.
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Emirates NBD ranked 'strongest bank in UAE'
Emirates NBD, a leading bank in the region has been ranked the ‘Strongest Bank in the UAE’ by the prestigious Asian Banker’s ‘AB 500 Strongest Banks in 2016.’ The bank, the largest in the UAE, was rated highly for its sound growth record and its …
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Dubai Islamic Bank Q3 net profit down 9.9 per cent
Dubai Islamic Bank, the United Arab Emirates’ largest Sharia-compliant lender, on Monday posted a 9.9 per cent drop in third-quarter net profit, in line with analysts’ forecasts. The bank made Dh876.3 million in the three months to September 30 …
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Dubai Islamic Bank 9-month net profit up 7% to Dh3b
Dubai: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE by total assets, on Monday reported a Group Net Profit of Dh3.01 billion, up 7 per cent compared with Dh2.8 billion for the same period in 2015. For the third quarter of the year the bank …
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UAE Penal Code overhaul to adopt restorative justice
Insulting the UAE, its flag, national logo, leadership or institutions will carry a jail term ranging between 10 and 25 years and a fine of at least Dh500,000. Publishing false news, statements or rumours with a purpose of terrifying the people or harming …
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