Business & Money | Saturday 22 July, 2023 8:29 am

FAB logs net profit of AED 8.1 bn in H1 2023

First Abu Dhabi Bank (FAB) today announced its record performance with a first half 2023 net profit at AED 8.1 billion, the highest ever achieved by the Group in a half-year period. Return on Tangible Equity (ROTE) increased substantially to 18.6 percent, with strong capital accretion lifting...

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Business & Money | Saturday 22 July, 2023 8:26 am

ADCB reports 23% net profit hike reaching AED1.93bn in Q2’23

Abu Dhabi Commercial Bank PJSC (ADCB) today published its financial results for the second quarter of 2023 (Q2’23), reporting a net profit of AED 1.932 bn, an increase of 23 percent year-on-year (YoY). This strong performance is driven by broad-based income growth and improved efficiency...

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Business & Money | Saturday 22 July, 2023 7:23 am

Here's what you need to know about Real Estate Contributions Law

The Saudi Cabinet, chaired by King Salman, recently approved the Real Estate Contributions Law.   The official gazette Umm Al-Qura published today, July 21, the details of the law that aims to regulate real estate contributions, raise the level of transparency, as well as protect the ...

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Business & Money | Saturday 22 July, 2023 7:16 am

ACRSD issues SAR 1.2 bln fines on Dar Al Arkan traders for violations

The General Secretariat of the Committees for Resolution of Securities Disputes (GS-CRSD) announced the issuance of the Appeal Committee for the Resolution of Securities Disputes' (ACRSD) final decision in the public penal case filed by the Public Prosecution against some traders of Dar Al Arkan...

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Business & Money | Friday 21 July, 2023 12:43 am

EIH Ethmar International Holding Acquires Stake in Nirvana Holding

EIH Ethmar International Holding PJSC and Nirvana Holding, two leading companies based in Abu Dhabi, have announced a strategic acquisition deal, through which EIH acquired a stake in Nirvana Holding. This acquisition aims to strengthen Abu Dhabi's position as a leading tourist destination and ...

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Business & Money | Friday 21 July, 2023 12:37 am

PIF signs MoU with Japanese firm to explore green hydrogen projects

The Public Investment Fund (PIF) signed a non-binding memorandum of understanding (MoU) with Japan's JERA Co. to boost cooperation.   The move also aims to explore opportunities for developing green hydrogen projects, the fund tweeted.   Source : Argaam ...

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Business & Money | Thursday 20 July, 2023 10:43 pm

"Jazeera Paints" Inaugurates a Distinctive Showroom in the Kingdom of Bahrain

Jazeera Paints", the leading company in the industry of paints, colors, and construction solutions, inaugurates a distinctive showroom in the sisterly Kingdom of Bahrain. The showroom opening ceremony was held under the auspices and presence of the Chairman of the Bahrain Chamber of Commerce and...

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Business & Money | Thursday 20 July, 2023 12:19 pm

PIF Establishes Sawani Company to Unlock the Potential of Saudi Camel Dairy Industry

The Public Investment Fund (PIF) has today announced the establishment of Sawani Company (Company or Sawani), to enable the growth of the Saudi camel farming industry and actively contribute to its sustainable development. The Company aims to be a leading producer of camel dairy products,...

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Business & Money | Thursday 20 July, 2023 9:33 am

Alpha Dhabi and Limak Group Sign MoU to Drive Sustainable Development in UAE and Turkey

Alpha Dhabi Holding (ADX: ALPHADHABI), one of the fastest-growing investment holding companies in the United Arab Emirates (UAE), signed a Memorandum of Understanding (MoU) with Turkey-based Limak Group. The MoU aims to explore a range of business opportunities and joint ventures in...

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Business & Money | Thursday 20 July, 2023 9:30 am

Coordination between UAE and Türkiye private sectors enhances intra-regional trade and investments: Humaid bin Salem

Humaid Mohammed bin Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry, affirmed that the private sector in the UAE and the Republic of Türkiye has witnessed great momentum in recent years, especially since Expo 2020 Dubai was held in the UAE.On the sidelines of...

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