Sunday 19 November 2017

Saudi banks Q3 income edges up marginal 0.4pc

The consolidated net income of Saudi Arabian banks was only marginally higher in the third quarter (Q3) of 2017, at 0.4 per cent quarter-on-quarter (q-o-q), resulting in an increase of 14.3 per cent year-on-year (y-o-y), a report said. The restriction on net income growth came ab


Abu Dhabi, Alberta in bid to boost bilateral trade

Officials from the of Emirate of Abu Dhabi and the Canadian State of Alberta have discussed ways of accelerating economic and investment cooperation, with a special emphasis on the petrochemicals, aviation, agriculture, food, education and industry sectors. This came at a meeting


UAE banks federation unveils new brand identity

Reinforcing its pivotal role in driving the continuous growth and development of the country’s banking sector, the UAE Banks Federation, a professional representative body comprising 48 member banks operating in the UAE, has launched a new brand identity. Inspired by the UA


Japan's SoftBank to invest $25bn in Saudi Arabia

Japan's SoftBank Group plans to invest as much as $25 billion in Saudi Arabia over the next three to four years, a Bloomberg report said


Dubai non-oil foreign trade up 13pc to top $93bn in Q3

Dubai’s non-oil foreign trade increased to Dh344 billion ($93.6 billion) in the third quarter of 2017, an increase of 13 per cent year-on-year from Dh305 billion in the corresponding quarter of last year, a report said. Re-exports were the key driver of growth in the quarte


Kuwait non-oil growth set to rise to 4pc: IMF

Kuwait’s non-oil growth is projected to increase gradually to about 4 per cent driven by accelerated project implementation under the 5-year development plan and improved confidence, said the International Monetary Fund (IMF). Hydrocarbon output is forecast to increase by 4


EFG Hermes Q3 profit surges 476pc to top $13m

EFG Hermes, a leading financial services corporation in Mena, posted a net profit of EGP237 million ($13.4 million) after tax and minority interest for the third quarter (Q3) of the year, marking an increase of 476 per cent. The Group’s strong performance in the third quart


Emaar Development sets IPO share price at $1.64

Emaar Development, the UAE build-to-sell (BTS) property development business of Emaar Properties has set the offer price for the initial public offering (IPO) of its ordinary shares at Dh6.03 ($1.64) per share. Based on the offer price, the company’s market capitalisation a


DFM achieves 100pc Q3 disclosure compliance

Dubai Financial Market (DFM) has announced that its listed companies have recorded a 100 per cent compliance regarding the disclosure of Q3-2017 results within the deadline of 45 days from the end of the period. The total number of UAE public joint stock companies as well as the


Bahrain to host Global Entrepreneurship Congress 2019

Bahrain has been named host country for the Global Entrepreneurship Congress in 2019 at a high-profile event at the United Nations HQ in New York. The move confirms the kingdom’s position as a business-friendly nation and an international leader in the field of entrepreneur

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