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ADFG wins UAE Asset Manager of the Year award

Abu Dhabi / Emirates Business Abu Dhabi Financial Group (“ADFG”), the multi-billion dollar alternative investment firm, has been recognised at the MENA Fund Manager Awards 2016 winning the accolade for UAE Asset Manager of the Year. The team, represented by ADFG’s Chief Operating Officer, Mustafa Kheriba, received the honour and said, “It is an honour to receive the award for ...

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ADCB delivers strong performance year

Abu Dhabi / Emirates Business Abu Dhabi Commercial Bank PJSC (“ADCB” or the “Bank”) has reported its financial results for the year ended December 31, 2015. Delivering strong performance and long-term value for shareholders ADCB has reported record level of net profit despite a challenging business environment As a result of the record performance in 2015, the bank has recommended ...

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Commercial Bank of Qatar announces QAR 1,458 mn profit

Doha / Bloomberg The Commercial Bank Qatar (Q.S.C.) announced its financial results for the year ended December 31, 2015. The bank delivered a net profit of QAR 1,458 million for 2015, a 24.9 percent decrease in profitability compared to 2014. On a quarterly basis, Commercial Bank generated net profit of QAR 117 million in the fourth quarter 2015, as compared ...

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Italy deal with EU helps reduce banks’ bad loans

Rome / Bloomberg Italy’s deal with the European Commission on state guarantees for banks’ bad loans will help lenders reduce their stock of deteriorated debt, even though markets offered a skeptical reaction, Bank of Italy Governor Ignazio Visco said. “The guarantee mechanism will prove useful for facilitating the divestment of bad debts,” said Visco, who sits on the European Central ...

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KSA banks distressed as stocks cheaper than assets

RiyadH / Bloomberg Saudi banking stocks have fallen to the lowest levels in at least a decade relative to their net assets, showing the slump in oil is stoking concern that bad loans will increase. Following a 10 percent slide this year, an index of 12 lenders on the Tadawul All Share Index is trading at an average 1.3 times ...

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Time Sensitive! 5 Ways To Reduce Your Taxes

Don’t act so surprised, Your Highness. You weren’t on any mercy mission this time. Several transmissions were beamed to this ship by Rebel spies. I want to know what happened to the plans they sent you. In my experience, there is no such thing as luck. Partially, but it also obeys your commands. I want to come with you to ...

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