The bank said higher revenue across net interest and other operating income, underpinned by solid loan growth, generated a robust increase in net profit …
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First Abu Dhabi Bank reports highest quarterly net profit in its history at $1.38 billion in Q1 2022
The First Abu Dhabi Bank’s total income reached $1.98 billion and includes a $762.29 million net gain on the disposal of majority stake in payments business Magnati First Abu Dhabi Bank reports …
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Dubai’s Averda explores IPO; abandons merger talks: report
The company had earlier held merger talks with US blank-check firm Better World Acquisition Corp., but those discussions have been abandoned, the report said. The privately-owned business has in the …
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Dubai’s Averda Mulls IPO in UAE or KSA: Report
Averda, a Dubai-based provider of waste-disposal services provider, is considering an initial public offering (IPO) in Saudi Arabia or the UAE, Bloomber …
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UAE finance ministry to issue first tranche of federal treasuries
The United Arab Emirates’ finance ministry said on Thursday it plans to issue on May 9 the first tranche of federal treasury bills, in cooperation with the central bank.
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How will the UAE’s new venture capital fund help overcome current obstacles in the nation’s startup sector?
While the $100 million fund announced by Sheikh Hamdan bin Mohammed is a prime example of the drive to be at the forefront of a digital future, it is also crucial to startups in the fintech space …
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Mashreq Bank offers investors added option to open digital bank account by joining UAE KYC Blockchain Platform
Mashreq Bank joins a group of four banks that are currently live on the network, including Emirates NBD, Commercial Bank of Dubai (CBD), Abu Dhabi Commercial Bank (ADCB), and HSBC Mashreq Bank offers …
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Dubai’s Leading Developer to Facilitate Bitcoin and Ethereum Holders
Damac Properties announced yesterday that it will facilitate the sale of the property to Bitcoin and Ethereum holders.
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UAE residents cash in on weak British pound as remittances surge to UK
Exchange houses in the UAE have reported a surge in remittances to the UK after the British pound fell to its lowest level against the US dollar since July 2020, giving British residents a window of …
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UAE’s biggest lender FAB posts record quarterly profit of $1.4 bln
First Abu Dhabi Bank (FAB), the United Arab Emirates’ biggest lender, reported on Thursday its highest ever quarterly net profit, helped by the sale of a majority stake in its payments business.
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Mashreq Bank supports UAE’s ‘1 Billion Meals’ campaign
Bank works on serving social development by partnering in charity Dubai: Mashreq Bank has announced its participation in the ‘1 Billion Meals’ initiative, the largest of its kind in the region, which …
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Dubai’s Averda Said to Plan IPO After Ditching SPAC Merger Talks
The Dubai-based provider of waste-disposal services held merger talks with U.S. blank-check firm Better World Acquisition Corp. earlier this year, but those discussions have been abandoned, the people …
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Dubai court asks bank to pay Dh9.5m to customer that he lost in unauthorised transactions
A court in Dubai has ordered a local bank to pay Dh9.5 million ($2.5m) to a customer after he lost that amount in unauthorised transactions. The court heard how he was the victim of a Sim swap after …
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Dubai to launch new $100m VC finance fund to support its FinTech ambitions
Dubai announced the launch of a new venture capital finance fund with capital of approximately Dh370m ($100.7m) to promote its ambition of becoming a global FinTech hub. The launch of the fund was …
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UAE’s Mashreq Bank Q1 net profit soars to $165mln as impairments drop
Dubai-based Mashreq Bank’s Q1 2022 net profit soared to 606 million dirhams ($165 million) compared to 43 million dirhams in Q1-2021, driven by a sharp drop in impairments. The earnings easily topped …
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Mashreq Bank participates in 1 Billion Meals initiative
The 1 Billion Meals initiative, organized by Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), is an extension of last year’s 100 Million Meals, which surpassed its target, collecting and dis …
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Americana picks Goldman Sachs, FAB, SNB Capital to handle IPO
Logo ofAmericana Americana has appointed Goldman Sachs, First Abu Dhabi Bank, and SNB Capital to manage its initial public offering (IPO) tha …
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