SHARJAH / EMIRATES BUSINESS The United Arab Bank (UAB), announced its financial results for the nine months ending September 30. Performance in the third quarter reflects continued positive traction against the bank’s transformation strategy. Aided by a substantial 44% reduction in Provisions for Credit Losses, stable Non-Interest Income and material cost savings from its streamlined operating model, UAB recorded …

  RAS AL-KHAIMAH / WAM Ras Al-Khaimah Port, one of the emirate’s five port facilities, now established a new free zone area that comes under the licence jurisdiction of RAK Maritime City Freezone Authority. Commenting on the new facility, Captain Clifford Brand, CEO of Ras al-Khaimah Ports, said, “We believe that introducing a free zone alternative within RAK Port will …

  DUBAI / WAM Dubai Islamic Bank (DIB) on Monday announced its results for the period ended September 30, with a group net profit increased to AED3,011mn, up 7% compared with AED2,801mn for the same period in 2015. Mohammed Ibrahim Al Shaibani, Chairman of Dubai Islamic Bank, said, “Despite somewhat difficult times for the global economy, the UAE economy and …