Tuesday 22 August 2017

Abu Dhabi 7-month inflation touches 2pc

The inflation rate in consumer prices for the first seven months of 2017 was two per cent compared with the same period of 2016, according to data released by the Statistics Centre - Abu Dhabi (SCAD). The Consumer Price Index rose to 108 per cent during the period from January to


Short-term deposits in UAE banks hit $119bn in H1

The total value of short-term deposits in UAE banks reached Dh439.7 billion ($119 billion) by the end of June, rising by Dh27.9 billion during the first half of the year, according to UAE Central Bank statistics. According to Central Bank data, short-term deposits secured progres


GFH posts 440pc jump in net profit to $62m

GFH Financial Group (GFH) has announced a net profit attributable to shareholders of $62.1 million for the first half of the year ended June 30, representing a 440 per cent increase from $11.5 million in the first half of 2016. The group reported a consolidated net profit of $65.


Watania back in the black in Q2

UAE-based National Takaful Company (Watania) has posted total profits of Dh2.7 million ($735,000) for the second quarter of the year as against a deficit Dh1.5 million a year before, marking a growth rate of 272 per cent. Ali Bin Harmel Al Dhaheri, chairman of Wataniya pointed ou


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

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