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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At Dh853m for Q1-2021, Dubai Islamic Bank’s net profit is definitely in recovery mode
Dubai: Dubai Islamic Bank will take a lot of strength from its first quarter 2021 numbers, with net profit up a whopping 2,337 per cent compared to what it was in the final three months of 2020.
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Dubai’s Gulf Navigation refinances its biggest loan, eyes Dh4m in savings
Dubai: In what could be a significant boost to its cashflow position, Gulf Navigation Holding has restructured its biggest loan exposure of Dh200 million. As per the new terms, the cost of paying off …
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Crown Prince: Saudi Arabia in Talks to Sell 1% of Aramco to Foreign Investor
Saudi Arabia’s crown prince said in televised remarks on Tuesday that the kingdom was in discussions to sell 1% of state oil firm Saudi Aramco to a leading global energy company. Crown Prince Mohammed …
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Hedge-Fund Trader Wins Dismissal of $2 Billion Cum-Ex Case
Hedge Fund trader Sanjay Shah won a U.K. court ruling throwing out a 1.5 billion-pound ($2 billion) lawsuit filed by Danish tax officials over Cum-Ex trades.
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UAE: More residents opting for personal loans; here’s why
Demand and appetite for both personal and business loans witnessed remarkable recovery in the first quarter of 2021, according to the UAE Central Bank’s Q1 2021 Credit Sentiment Survey. In terms of …
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Dubai-based COFE completes $10m funding round, with potential IPO brewing
Latest financing was provided by Al Imtiaz Investment Group, a leading Kuwaiti investment house listed on the Boursa Kuwait …
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Covid-19 in UAE: World can end pandemic but only if nations work together, say experts
There still needs to be a ‘back-up plan’ because the world might not have enough vaccine to reach herd immunity anytime soon.
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ADNOC, Dutch-listed OCI set to pick Citi, FAB, HSBC for JV IPO – sources
Abu Dhabi National Oil Company (ADNOC) and chemical producer OCI N.V. (OCI) are likely to pick First Abu Dhabi Bank, HSBC and Citigroup to work on the public-share sale of their fertiliser joint …
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XTB Aims to Start UAE Operation by the First Half of 2021
XTB is gearing up to expand its international operations and is aiming to enter the United Arab Emirates as soon as the first half of this year.
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Global Leaders in Investment Management Attend Hedge Fund Summit in DIFC
Sohail Jaffer, Deputy CEO of FWU Dubai Services and Middle East regional representative of AIMA, said, “Increased interest in hedge funds and alternatives comes at a time when institutional investors …
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UAE banks well-positioned despite rise in NPLs
The UAE banks are well-positioned even bad loans rise further, thanks to strong capital buffers and high level of profitability that local lenders enjoyed prior to the outbreak of Covid-19 pandemic, …
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UAE bank ADCB reports soaring profit as it recovers from NMC impairments
UAE’s third-biggest lender, reported a more than 400% surge in first-quarter profit on Sunday, after it took big impairments a year earlier due to its large exposure to troubled hospital operator NMC …
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Azmin leading trade, investment mission to Saudi Arabia, UAE
Senior minister for economy Mohamed Azmin Ali will meet senior ministers in both countries to boost investments. KUALA LUMPUR: Senior minister and international trade and industry minister Mohamed …
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Help! My Dubai rent cheque is due, but I don’t have the money
Question: I am a resident of Dubai. I have been living in a two-bedroom apartment for the last four years. The contract was renewed six months back with six cheques for the year. I have another two …
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Azmin to lead trade and investment mission to Saudi Arabia, UAE
Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali will lead a trade and investment mission to Saudi Arabia and the United Arab Emirates (UAE) from tomorrow …
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UAE: Dh38m raised for 100 million meals drive in art auction
The International Charity Art Auction supporting ‘100 Million Meals’ campaign raised more than Dh37.54 million ($10.28 million) on Saturday during a live in-person auction in Dubai. On display were a …
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