According to S&P Global Ratings, the top 10 banks in the UAE are likely to have an increase of 15 per cent of their net income or an additional 1.4 percentage …
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UPDATE 1-UAE bank’s bid for Egypt’s ‘national champion’ EFG may be too low
The United Arab Emirates’ biggest lender may have to raise its bid to take a controlling stake in Egypt’s top investment bank EFG Hermes given the latter’s outsized influence over Egypt’s financial …
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UAE banks to return to ‘pre-pandemic’ profitability in 12-18 months, Moody’s says
Banks in the UAE will return to pre-pandemic levels of profitability in the next 12-18 months on the back of stronger net interest income and increasing business momentum, as the economy rebounds from …
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UAE bank’s bid for Egypt’s ‘national champion’ EFG may be too low
DUBAI — The United Arab Emirates’ biggest lender may have to raise its bid to take a controlling stake in Egypt’s top investment bank EFG Hermes given the latter’s outsized influence over Egypt’s …
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Good news for UAE expats: Best time to remit as Indian, Pakistani rupee to come under more pressure this week
This is why analysts note that the uncertainty related to the current account and the geopolitical tension will exert pressure on the rupee in the coming week. The crisis had brou …
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Brookfield to buy 60% of First Abu Dhabi Bank’s payment subsidiary
First Abu Dhabi Bank, the UAE’s largest lender by assets, signed an agreement to sell 60 per cent stake in its payments business Magnati to New York-listed Brookfield Business Partners, valuing the …
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Saudi’s Crown Prince and UAE president’s advisor call for stability as Russia-Ukraine war continues
Dr Anwar Gargash, diplomatic adviser to the UAE President Sheikh Khalifa bin Zayed Al Nahyan … excluding Russian lenders from the SWIFT bank messaging system targeting the central bank’s foreign …
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Abu Dhabi mega-bank FAB sells 60% in payments firm Magnati to Brookfield
The First Abu Dhabi Bank has sold a 60 per cent stake in its payments processing business Magnati, selling it to Brookfield Business Partners and its institutional partners. The transaction provides …
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UAE’s non-oil foreign trade rises 27% in 2021 amid economic recovery
Provided by The National The UAE had reported a 27 per cent jump in non-oil trade in the first half of 2021 to Dh900 billion. Photo: Pawan Singh / The National . The UAE’s non- …
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Return of margins: UAE banks see good times ahead
Rising interest rates and higher loan demand to boost loan yeild Dubai: A combination of factors ranging from rapid recovery in economic growth supported by rising oil prices, pick up in loan growth, …
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UAE – MoF Innovates 2022: A journey into the future of finance
Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs inaugurated an event organised by the Ministry of Finance (MoF) as part of its participation in the UAE Innovation Month 2022, …
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UAE – Binance Founder shares vision for future of finance and cryptocurrency at ‘Museum of the Future’
DUBAI, 24th February … during an hour-long session about cryptocurrencies and the future of digital finance. In his presentation, Zhao hailed the Museum of the Future; Dubai’s latest …
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UPDATE 2-Dubai state utility DEWA expects to launch intention to float March 7 -sources
DUBAI, Feb 22 (Reuters) – Dubai Electricity & Water Authority (DEWA) expects to launch its initial public offering next month, with a listing on the Dubai Financial Market likely to be in April, …
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Venture Capitalist Faisal Alhamer Announces Plans to Establish MECC Ventures, Intends to Invest $1 Billion in UAE-Based Businesses and Startups
Faisal Alhamer has been a key player in the UAE financial sector, and he is ready to do more for the Arab regionOver the past years, many countries in the …
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Paralysed banking system pushing Afghanistan towards collapse -Red Cross
DUBAI (Reuters) – Afghanistan is inching closer towards economic collapse six months after the Taliban seized power, the Red Cross said on Friday, with a paralysed banking system stymieing …
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Senior Iran cleric demands removal of banking, oil sanctions
If these sanctions are not lifted, it is as if there were no talks: Ayatollah Khatami Dubai: A senior Iranian cleric said on Friday ending Irans economic isolation by lifting banking and oil trade …
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New Dubai portal allows crowd funding of films with cryptos and NFT
Cinema and the Metaverse come together in Gargash and PwC initiative Dubai: Dubai’s first ‘cineverse … SEC Saga” and “El Salvador vs. World Bank’. The premiere, however, was different …
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