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SIB launches digital banking solution for corporate sector

Sharjah / WAM Sharjah Islamic Bank (SIB) has announced the launch of its corporate digital banking services, providing an integrated banking experience characterised by speed, flexibility and security. Rahma Mohammed Al Shamsi, Head of Corporate Banking Group, Sharjah Islamic Bank, said that it is part of the bank’s efforts to enable companies to obtain an integrated digital banking experience, allowing ...

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Expo 2020 to create far-reaching economic benefits, says Cisco MD

Dubai / WAM Expo 2020 Dubai is expected to create huge tangible and intangible economic benefits for the emirate and the wider region, with new and expanded infrastructure serving business communities and societies for the long-term, says Shukri Eid, Managing Director, Gulf Region, Cisco. “What’s fascinating is the sheer scale of Expo 2020. We are talking about vast investments in ...

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DSC completes evaluation of clubs, sports companies

Dubai / WAM The Dubai Sports Council announced the completion of the evaluation of Dubai clubs and football companies for the “Dubai Sports Excellence Model Awards” in collaboration with an internationally renowned specialist to ensure transparency. The council had received more than 100 nomination files for the fifth edition of Dubai Sports Excellence Model Awards, which takes into consideration the ...

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Neptune considers merger with its rival Harbour Energy

Bloomberg Neptune Energy Group Ltd, the private equity-backed explorer, is considering options including a merger with Harbour Energy Plc that could create one of Europe’s largest independent oil and gas companies, people familiar with the matter said. Neptune, part-owned by Carlyle Group Inc and CVC Capital Partners, is working with an adviser as it studies a potential combination with London-listed ...

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Sinopec profit surges on Chinese fuel, plastics demand

Bloomberg China Petroleum & Chemical Corp, commonly known as Sinopec, returned to profit in the first half as the nation’s recovery from the pandemic boosted demand for the refiner’s transport fuels and plastics. Asia’s biggest oil refiner posted a net profit of $6.2 billion, compared with a loss of 21.8 billion yuan a year ago, the company said in a ...

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Goldman Sachs needs IPO to go extremely well

Goldman Sachs Group Inc doubtless wants every initial public offering it’s involved in to go well. But the US investment bank has a lot riding on one in particular: the potential London listing of Petershill Partners. This vehicle for owning stakes in private-equity firms could be a hot property. Even so, Goldman would be ill-advised to push IPO investors to ...

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Is Xi leading China into a trap?

An ancient Mesopotamian tale tells of a servant in Baghdad who meets Death at the marketplace. Terrified by Death’s menacing expression, he takes his master’s horse and flees to Samarra. Later, the master sees Death and asks why she made a threatening gesture to the servant. Death replies that it was only a start of surprise. “I was astonished to ...

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Fossil fuels’ price boom isn’t the ‘real victory’

From the price action, you’d think that fossil fuels are back in business. Since breaking above $100 a metric ton in May, the price of coal at Australia’s Newcastle port — a benchmark for Asia, which consumes about three-quarters of the world’s soot — has gone almost vertical, hitting a record $173.10 a ton. The key regional contract for liquefied ...

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Guinea can’t shake its mineral resource curse

For many Guineans, the scenes that played out were a blast from the not-so-distant past: A military officer in dark glasses and fatigues on television dissolving the government and the constitution, unauthenticated videos of a disheveled-looking, apparently overthrown president, gunfire on the streets of Conakry. The trouble for the West African nation is that the failure to make the most ...

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Lufthansa seeks bailout deal before Merkel exits office

Bloomberg Deutsche Lufthansa AG is seeking to secure a deal on how Germany will wind down its investment in the airline before Angela Merkel’s government leaves office, a moment that could see a less sympathetic coalition sweep to power. The comments by Chief Executive Officer Carsten Spohr amount to an admission that his previous deadline of repaying the remainder of ...

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