is moving out of its pilot phase and expanding across more locations in Abu Dhabi from early February, one of its founders told Gulf News. “The pilot phase was very successful, so we are increasing the number of stations from 11 to 50, which means more …
( read original story …)
ADCB’s fourth-quarter net profit falls 16%
The Egyptian investment bank EFG-Hermes has forecast that profit at nine UAE banks it covers would fall by 8 per cent year-on-year in the fourth quarter because of a rise in provisions and tighter spreads. It forecast ADCB’s net profit would decline 18 …
( read original story …)
Economic challenges push ADCB profits down 16%
Dubai: Abu Dhabi Commercial Bank (ADCB) reported on Tuesday a 16 per cent year-on-year decline in net profit attributable to equity shareholders that reached Dh4.15 billion in the full-year 2016 from Dh4.9 billion in 2015. The figure puts net profit for …
( read original story …)
Citi Private Bank eyes 15% growth in UAE revenue this year
Dubai: With $374 billion (Dh1.37 trillion) of assets under management globally, Citi Private Bank (CBP) expects a 15 per cent growth in revevues and assets in the UAE this year, even as it eyes investment opportunities in private equity to fund small …
( read original story …)
Emirates NBD launches Green Auto loan with preferential pricing
Emirates NBD, a leading bank in the region, announced today the launch of a Green Auto Loan product in line with its commitment to support the UAE’s transformation into a low-carbon economy, as part of UAE Vision 2021. The Green Auto Loan has been …
( read original story …)
Dubai Financial Market : Dh5m investment drops to Dh123 in decade
Dubai: A client who deposited Dh5 million in two trust accounts with a UAE bank 10 years ago, recently sued the bank after discovering that his investment was now worth only Dh123. An accident had forced the client — a resident of a Gulf Cooperation …
( read original story …)
UAE's First Gulf Bank reports 11 pct fall in Q4 profit
DUBAI Jan 31 First Gulf Bank (FGB), Abu Dhabi’s third-largest lender by assets, reported an 11 percent fall in fourth-quarter net profit on Tuesday but narrowly beat analysts’ expectations. FGB, which is being merged with rival National Bank of Abu Dhabi …
( read original story …)
Emirates Bank for Volunteering established
Zayed Giving Initiative, ZGI, the UAE Societal Voluntary Programme, and Tadreeb National Training, Tadreeb, have signed an agreement to establish and manage the first specialised bank for volunteers. The bank will target volunteers across community …
( read original story …)
UAE Central Bank Board reviews Q4 Report for 2016
ABU DHABI, 31st January, 2017 (WAM) — The Board of Directors of the UAE Central Bank has reviewed the bank’s Q4 Report for 2016, which covered various banking related issues. The 1st meeting in 2017, held under the chairmanship of Khalifa Mohammed Al …
( read original story …)
Dubai To Open Up To Crowdfunding Platforms, As Part Of Fintech Push
The regulator of offshore financial hub the Dubai International Financial Centre (DIFC) is preparing to license loan-based crowdfunding platforms for the first time. The Dubai Financial Services Authority (DFSA) has begun a consultation process on its …
( read original story …)
UAE fully prepared in disaster management medicine
Dr Tammam Aloudat, deputy medical director of Medecins Sans Frontieres, told Gulf News: “While the UAE is well equipped to deal with emergency services in case of hospitals in times of major accidents, cardio-vascular diseases or stroke patients …
( read original story …)
Dubai Tour kicks off on Tuesday morning
Dubai: The Dubai Tour is back and with it, expect road closures ranging from 30 to 40 minutes across various roads in Dubai. Preparations for the first stage of Dubai Tour 2017 started on Tuesday morning, with scores of participants and residents making …
( read original story …)
Dubai launches programme to promote trade with India
a statement released by the UAE’s official news agency Wam said. The launch of the programme in India comes within a week of the joint statement made by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE …
( read original story …)
UAE's du acquires license to operate Virgin Mobile service
EITC’s license term is for over five years, granting it full rights to ownership, management and operation of the brand in the UAE, Sultan said at a news conference in Dubai. An EITC spokesman told Reuters the license was bought from the Virgin Group.
( read original story …)
Dubai embraces the best of British with the opening of Dukes Hotel
A little more than a century later, its first international outpost is set to open officially next month in two gleaming towers on an artificial island in Dubai. Palm Jumeirah’s man-made brashness may be the antithesis of Mayfair’s old-school elegance …
( read original story …)
Russian women stage racy mannequin challenge outside Dubai hotel after management complains about being tagged in raunchy social media posts
The Waldorf Astoria Dubai Palm Jumeirah, on the famous man-made palm islands off the UAE resort city of Dubai, was annoyed at being geo-tagged in social media posts after a group of women stayed there. Hotel management complained that some of the pictures …
( read original story …)
UAE's EITC to launch Virgin Mobile brand in country
will launch Virgin Mobile as a new brand in the UAE, EITC’s chief executive Osman Sultan said on Tuesday. EITC will have full ownership, management and operation of the Virgin Mobile brand in the country, Sultan told a news conference. Virgin Mobile will …
( read original story …)