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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Tradeling launches another fulfilment centre as part of its expansion strategy in the UAE
Its second fulfilment centre in Dubai aims to meet market demand following the growth it witnessed in Q1 of this year …
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Mashreq Bank’s Q1-2022 net profit weighs in with a robust Dh606m on higher interest income, fees
Dubai: Mashreq Bank reported an operating income of Dh1.6 billion for Q1-2022, a gain of 11 per cent from a year ago, derived in large part by improved net interest income and tha …
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Dubai court tells 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 Islamic Bank’s first quarter net profit jumps 58% on lower impairment charges
Dubai Islamic Bank, the UAE’s biggest Sharia-compliant lender by assets, reported a nearly 58 per cent rise in first quarter net profit driven by lower impairment charges and higher operating revenue, …
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UAE’s Dubai Islamic Bank Q1 net profit up 58% on lower impairments
Dubai Islamic Bank, the UAE’s largest Islamic lender, posted a 58 percent jump (y-o-y) in its Q1 2022 net profit at 1.34 billion dirhams ($365 million), driven by lower impairments and a stronger top …
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Dubai Islamic Bank 1st Quarter 2022 Group Financial Results
Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE and the second largest Islamic bank in the world, today announced its results for the …
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Dubai Islamic Bank’s total income at over Dh3b for Q1-2022
Net profit shoots up 58% as DIB numbers reflect all-round gains for UAE banks Dubai: Net profits at Dubai Islamic Bank are up a substantial 58 per cent to Dh1.3 billion for the first three months, …
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UAE’s 2022 GDP growth could even hit 6.3% on higher oil, says IIF
IIF forecasts much higher growth for UAE than IMF’s latest estimates Dubai: GDP growth for the UAE economy could hit 6.3 per cent in real terms to $483. 4 billion this year, according to Institute of …
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