ABU DHABI / WAM The central bank of the UAE has revealed that the gross assets of banks operating in Abu Dhabi and Dubai have risen to around AED2.897 trillion, by the end of April, accounting for 92 percent of total banking assets in the country, which are estimated at AED3.156 trillion. Dubai banks’ assets amounted to AED1.489.2 trillion, according ...

RAS AL KHAIMAH / WAM Gulf Pharmaceutical Industries, Julphar, on Monday announced the launch of its AED500 million ($136.13 million) rights issue as the company progresses on its ambitious turnaround plan. The rights issue is set to improve the company’s capital position and debt profile and will provide the financial foundation for the successful implementation of the company’s medium-term growth strategy, ...

ABU DHABI / WAM The Khalifa Industrial Zone Abu Dhabi (Kizad), broke ground for a new dedicated Truck Plaza, comprising refuelling and rest facilities with the Industrial Zone. The project was introduced to HH Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Executive Council and Chairman of Abu Dhabi Executive Office, during his visit to Kizad to ...