Business & Money | Wednesday 19 July, 2023 12:55 am

NBQ – Q2 2023 results – Net Profit Surges 54% reaching AED 255 Million

National Bank of Umm Al Quwain reported a net profit of AED 255 million in Q2 of 2023, reflecting a 54% increase compared to AED 165 million in Q2 of 2022. Cost-to-income ratio is 20.58%, reflecting a 880 basis point year-on-year improvement, indicating the bank's operational efficiencies and...

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Business & Money | Wednesday 19 July, 2023 12:32 am

Retal launches first project in Jeddah

Jeddah Governor Prince Saud bin Abdullah bin Jalawi inaugurated Sadayem Suburb in Jeddah, in which Retal Urban Development Co. will be one of the partners of National Housing Co. (NHC) in providing housing units for beneficiaries.  The project is Retal’s first project in...

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Business & Money | Wednesday 19 July, 2023 12:27 am

ENOC Group to offer innovative fuelling solutions to grow its eLink network at Dubai Silicon Oasis

ENOC Link, the digital mobile fuel supply service for businesses and consumers in the UAE by ENOC Group, today announced the launch of its newest eLink station at Dubai Silicon Oasis, the specialised economic zone for knowledge and innovation and a member of the Dubai Integrated Economic Zones...

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Business & Money | Wednesday 19 July, 2023 12:07 am

DAMAC’s Cavalli Tower Reaches New Construction Milestone

Leading UAE-based developer DAMAC Properties has announced that its Cavalli Tower has achieved a significant milestone with the initial casting of the raft foundation on-site at Dubai Marina.  The casting consisted of over 2,000 tonne of steel reinforcement and 4,500 cubic metres of...

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Business & Money | Tuesday 18 July, 2023 12:26 pm

SAMA approves merger of Gulf Union AlAhlia, Al Sagr

Gulf Union AlAhlia Cooperative Insurance Co. and Al Sagr Cooperative Insurance Co. announced obtaining the Saudi Central Bank’s (SAMA) approval on July 17 on their prospective merger transaction and other related matters. The merger transaction completion remains subject to...

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Business & Money | Tuesday 18 July, 2023 12:23 pm

KEIR mulls to issue SAR-denominated sukuk worth SAR 30 mln

KEIR International Co. plans to issue Saudi riyals-denominated sukuk through the website of Sukuk Capital that is authorized by the Capital Market Authority (CMA) to offer and invest in debt instruments, the company said in a statement to Tadawul.  The program is valued at SAR...

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Business & Money | Tuesday 18 July, 2023 11:44 am

AED13.4 billion value of real estate transactions in Sharjah in H1 2023

The real estate sector in Sharjah achieved a trading value of AED13.4 billion during the first half of 2023, with an increase of 19.2 percent compared to the same period last year.According to the semi-annual report issued by the Sharjah Real Estate Registration Department on the real estate in the ...

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Business & Money | Tuesday 18 July, 2023 11:23 am

Fitch Ratings, Moody's Investors Service, and S&P Global Upgrade Emaar Properties PJSC's Credit Ratings

Emaar Properties PJSC, Dubai's premier real-estate developer, received credit rating upgrades from Fitch Ratings, Moody's, and S&P Global, reflecting its strong financial performance and improved leverage ratios. Fitch Ratings has upgraded Emaar Properties Long-Term Issuer Default Rating...

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Business & Money | Tuesday 18 July, 2023 11:18 am

FedEx Boosts Convenience with New Paperless Mobile Shipping Solution in the UAE, Bahrain, and Kuwait

FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, has launched FedEx Ship Manager® Lite (FSML), a new mobile shipping solution, for shippers in the United Arab Emirates (UAE), Bahrain, and Kuwait to prepare their packages with...

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Business & Money | Tuesday 18 July, 2023 11:06 am

PwC Legal continues to strengthen Middle East service offering

In response to the region’s growing need for effective legal and advisory services on the back of a burgeoning economic landscape, PwC Legal in the Middle East, part of the world’s most extensive law firm by geography, with over 4,000 lawyers and legal professionals in over 100 countries, is...

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