Dubai’s Mashreq posts 12% rise in net profit

Mashreq's CEO, AbdulAziz Al Ghurair, said: “It has been a period of muted growth for the UAE banking system with the banking sector gross credit growing by only 0.3 percent as of August. However at Mashreq we have been successful in increasing our loan ... ( read original story ...)

Second food bank site opens in Dubai

Labourers queued up to collect food packages which were being distributed at the launch of the second food bank site in Dubai on Monday, which is also World Food Day. More than 1,000 construction workers, cleaning and maintenance staff stood in lines for ... ( read original story ...)

Dubai Islamic Bank : assets cross AED200 bn

Dubai Islamic Bank, the largest Islamic bank in the UAE by total assets, on Wednesday reported a 10 percent rise in nine-month net profit to AED3.3 billion ($900 million) compared to the same period in 2016. Total income increased to AED7.5 billion for the ... ( read original story ...)

UAE online transactions grow to $12bn

Payfort’s 'State of Payments in the Arab World' report found the highest rates of growth to be in Saudi Arabia (27 percent), Egypt (22 percent) and the UAE (21 percent). The report included data on four other key countries (including Jordan, Kuwait ... ( read original story ...)

Saudi Aramco in stake sale talks with Chinese investor: sources

DUBAI/NEW YORK (Reuters) - Saudi Aramco is considering the sale ... oil company to a Chinese investor is being evaluated as a precursor to the international IPO, according to two sources who spoke on condition of anonymity as the information was not ... ( read original story ...)

What do the numbers say about the Kuwaiti banking system?

Read: INSIGHT: Unveiled Qatar Billions to Underwrite Banks According to a recent study by the First Abu Dhabi Bank, the UAE’s banking system comprising of 48 banks affords great financial solvency and reaps the fruits of an open economic and financial ... ( read original story ...)