Saturday 19 August 2017

ADGM, UAE Exchange partner to develop fintech

Abu Dhabi Global Market (ADGM), an international financial centre and UAE Exchange, a leading payment solutions brand, have partnered to support, develop and promote the fintech ecosystem in Abu Dhabi and the UAE. The memorandum of understanding was signed by Promoth Manghat, chi


Mastercard unveils innovation centre in Dubai

Mastercard, a leading technology company in the global payments industry, has unveiled its newest payment solutions and groundbreaking technologies at the latest release of its ‘MEA Innovation Showcase’ in Dubai, UAE. Featuring innovations that are shaping the future


UAE listed banks report over $5bn net profit in H1

A total of 19 listed banks in the UAE reported net profit of around Dh19 billion ($5.17 billion) during the first half of the year, a 3.8 per cent growth from around Dh18.3 billion posted during the corresponding period last year. Matching previous expectations, the gains reflect


Shuaa Capital posts highest H1 proft since 2009

Shuaa Capital, a leading integrated financial services firm in the region, today announced its highest half-yearly profit since 2009 for the first half of this year. For the six months ending June 30, 2017, the firm reported a net profit of Dh36.8 million ($10.02 million), compar


Ithmaar Holding posts $1.59m loss for H1

Ithmaar Holding (formerly Ithmaar Bank) has reported a net loss of $1.59 million for the six-month period ended June 30, compared to a net profit of $11.96 million for the same period last year. Net loss attributable to equity holders for the six-month period ended June 30 was $9


GCC banks ‘forced to rethink lending policy’

Reduced liquidity due to changing market dynamics, namely a reduction in oil prices, is forcing banks in the GCC region to rethink their lending policy due to a rise in non-performing loans (NPLs), said professional services firm Deloitte. The summer 2017 issue of Deloitte’


Bahrain issues crowdfunding regulations

The Central Bank of Bahrain (CBB) has released regulations for both conventional and Shari’a compliant financing-based crowdfunding businesses. For the first time it will be possible for small and medium sized businesses in Bahrain and in the region to raise conventional or


Amanat Holdings posts $6.8m net profit for H1

Amanat Holdings, a top healthcare and education investment company, recorded a net profit of Dh25 million ($6.8 million) for the first half (H1) of 2017, a 4.8 per cent increase compared to the same period in 2016. Total Income grew to Dh48.3 million, a 20.1 per cent increase com


StraitsBridge named distributor for Risq

Risq, a financial software provider and StraitsBridge, a leader in advisory services across finance and analytics domains, have signed an agreement appointing StraitsBridge as exclusive distributor for Risq solutions for the GCC, Lebanon and Egypt markets. "We are delighted


Top Saudi banks ‘under pressure to protect profits’

Large Saudi banks will protect their profits despite a tough business climate, said Moody’s in a new report, highlighting that lower government could dampen credit demand and weaken corporate and consumer borrowers' ability to repay debt. The banks covered in the report

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