HSBC has issued a trade finance facility, raising $48 million for UAE-based Lamprell to support work on the Seagreen Offshore Wind Farm project off the coast of Scotland. HSBC, the sole arranger for …
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ADNOC named UAE’s most valuable brand for third consecutive year
ABU DHABI – ADNOC maintained in 2021 its position as the UAE’s most valuable brand for the third consecutive year, according to a new report from Brand Finance, the world’s leading independent branded …
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Israel-UAE deal opens up great business opportunities
President Rivlin said the signing of the Abraham Accords and the normalisation of relationship have opened up immense business opportunities for the …
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Saudi Finance Minister expects domestic debt market to grow further
Saudi Finance Minister Mohammed al-Jadaan said on Wednesday he expects Saudi Arabia’s domestic debt markets to become more liquid after a large expansion last year.
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Top UAE Banks Fare Better Than Expected With Payouts Intact
The two biggest banks in the United Arab Emirates reported a decline in annual profit that was less severe than expected as the lenders brace for the full brunt of the economic fallout from the …
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Top UAE Banks See Profit Fall on Higher Provisions Amid Pandemic
The two biggest banks in the United Arab Emirates reported a drop in profit last year as they set aside higher provisions to cover an expected spike in bad loans as a result of the coronavirus …
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UAE banking sector profitability to remain low for longer: S&P
S&P Global Ratings expects UAE’s GDP growth to recover this year from the sharp recession of 2020 triggered by the COVID-19 pandemic and low oil prices. However, the shock will continue to rock the …
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Angola: UAE to Invest U.S.$190 Million in Port of Luanda
One hundred and ninety million US dollars will be invested, in the next twenty years, by the DP World Ltd company from the United Arab Emirates (UAE), in the exploration, development, modernization …
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Saudi in talks with COVID vaccine makers to supply Yemen, African states – finance minister
Saudi Arabia’s finance minister said on Tuesday his country was talking to manufacturers to provide COVID-19 vaccines to low-income countries including Yemen and African states.
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Revealed: UAE’s most valuable brands of 2021
Etisalat and Emirates are the three most valuable brands of 2021 from the UAE among the world’s top 500 brands. According to Brand Finance’s latest report, Etisalat, which operates the fastest network …
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Israel’s Airobotics eyes Tel Aviv IPO, drone deal in Dubai
Israeli drone technology firm Airobotics is preparing for an initial public offering (IPO) in Tel Aviv this year and is also close to clinching deals in the United Arab Emirates (UAE), chief executive …
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Indian eyewear major plans Gulf debut, eyes $250m business by 2025
Lenskart, the largest eyewear retailer of India, has announced $50m investment in the Middle East, plans to open its first retail store in Dubai …
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BrainsWay Signs Exclusive Distribution Agreement with Gaelan Medical Trade LLC
BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in the advanced non-invasive treatment of brain disorders, announced an exclusive distribution agreement with …
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How Can You Get Information on UAE New Foreign Ownership Rules?
Until now companies in the UAE had needed certain shareholding to be held by an Emirati national or an Emirati agent, depending on what type of company. The UAE approved a new law in 2018 that would a …
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UAE banking sector recovery will be gradual in 2021: S&P
We expect GDP growth to recover in the UAE this year from the sharp recession of 2020 triggered by the COVID-19 pandemic and low oil prices. However, we think the 2020 shock wi …
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Here’s why Commercial Bank International is well placed to gain from Gulf relationship reset
The UAE’s Commercial Bank International (CBI) could benefit from the normalisation. The Qatar National Bank has a 40 per cent stake in CBI, and along with other Qatari entities, the total Qatari …
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UAE: New debt policy to stimulate financial sector
The introduction of the securities should begin the development of a secondary market for local currency debt.
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