Tuesday 17 October 2017

UAE non-oil growth to remain resilient this year

Non-oil growth in the United Arab Emirates is estimated to remain resilient in 2017 while Opec-mandated oil production cuts limit oil growth, said the World Bank in its UAE Economic Outlook - October 2017 report. However, in the medium term, firmer oil prices, a rebound in global


Coface names interim country manager for GCC

Coface, a world-leading credit insurer, has appointed Berna Keskin as the acting interim Country Manager for GCC. Based in Dubai, UAE Keskin will succeed Massimo Falcioni, who has decided to pursue opportunities outside Coface.  Berna Keskin was last appointed to the positio


UAE-Saudi Business Forum kicks off in Abu Dhabi

More than 1,000 officials, investors and entrepreneurs attended the UAE-Saudi Business Forum yesterday (October 11) in Abu Dhabi, UAE. The forum themed ‘Together … Forever’,  which was held at the Emirates Palace Hotel, included three sessions that covered


Mena growth to top 3pc in next two years: World Bank

Despite a growth slowdown in 2017 at 2.1 percent, economic prospects in the Middle East and North Africa (Mena) region is projected to improve in 2018 and 2019 with growth exceeding 3 percent, according to the new World Bank report.   Both Mena’s oil expor


Abu Dhabi's GDP set to hit $231bn in 2017

Standard & Poor’s has forecast Abu Dhabi GDP to rise to Dh850 billion ($231.3 billion) and Dh890 billion ($242 billion) at current prices in 2017 and 2018 respectively, attributing the growth to the momentum witnessed by the oil and non-oil sectors since the beginning of this year.


Hawkamah partners with Saudi Governance Centre

UAE-based Hawkamah, the Institute for Corporate Governance, said it has signed an agreement with the Saudi Governance Centre will see them share information, training programs and research projects that will benefit companies and government organisations in both the countries. Th


Abu Dhabi global market, Yes Bank to advance Fintech opportunities

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, and Yes Bank have signed an MOU to further foster cross-border exchange between the FinTech ecosystems of the UAE and India. The collaboration will enable FinTech innovators from the Middle East regi


QNB nine-month profit up 6pc; tops $2.75bn

QNB Group, a leading financial institution in the Middle East and Africa (MEA) region, has posted a net profit of QR10.3 billion ($2.75 billion) for the nine months of the year, up by 6 per cent compared to the same period in 2016. The decrease in net interest income was primaril


ME economic growth prospects improve for 2018: PwC

While the economic and fiscal outturns for the first half of the year are less than anticipated, momentum is building in key parts of the region, suggesting stronger economic growth could return in 2018, said an industry expert. Richard Boxshall, senior economist at assurance, ad


Dubai Islamic Bank 9-month profit hits $898.7m

Dubai Islamic Bank (DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, reported a group net profit of Dh3.301 billion ($898.7 million) for the nine-month period ending September 30, up 10 per cent compared with Dh3.011 billion for the same period

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