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Dubai / WAM Mashreq, a leading financial institution in the Middle East and North Africa, reported its financial results for the year ending December 31, 2022. The bank’s operating profit was AED4.4 billion, a 39.2% increase compared to the previous fiscal year, with a net profit of AED3.7 billion ($1 billion). Mashreq had a growth of 12.1% year-to-date in ...
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January, 2023
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31 January
Dubai to host 22nd Airport Show in May
Dubai / WAM Dubai is set to host the 22nd edition of the Airport Show on May 9-11, where key global airport industry players will showcase their energised enthusiasm at the trend-setting event, with three exhibitions and two conferences over three days on its sidelines. To be held under the continued patronage of HH Sheikh Ahmed bin Saeed Al ...
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31 January
Adib net profit jumps 55% to AED3.62 billion in 2022
Abu Dhabi / Agencies Abu Dhabi Islamic Bank (Adib) announced a net profit of AED3.62 billion in 2022, a 55% increase from the previous year. The bank also reported a 60% growth in Q4 2022 with a net profit of AED1.2 billion, compared to AED728 million in Q4 2021. Adib’s revenue increased by 23% to AED6,835 million in 2022, driven ...
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31 January
UAE announces new deadline for changes in employment contracts
Dubai / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has announced the extension of the deadline for private sector employers to rectify unlimited-term employment contracts of their employees to fixed-term contracts. The new deadline now is December 31, instead of February 2. “The decision stems from our belief in enhancing flexibility, competitiveness and ease of business for ...
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31 January
EGA teams up with Microsoft on Industry 4.0, digitalisation
Abu Dhabi / WAM Emirates Global Aluminium (EGA) and Microsoft UAE on Monday announced their collaboration on Industry 4.0 and broader digital transformation, aiming to set global best practice for the aluminium industry while improving the sustainability of EGA’s computing operations. Both Microsoft and EGA are members of the UAE Ministry of Industry and Advanced Technology’s Industry 4.0 Champions ...
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31 January
Deal signed to empower Arab women on their financial journey
Dubai / WAM National Bonds has signed an agreement with the Arab Women Authority, the leading NGO aimed at empowering Arab women across the Mena region, to equip women with valuable financial management skills and savings tools. The partnership will see the two organisations join forces to empower women and support their role in societal and economic development and ...
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31 January
DHA highlights its ‘Wayakom’ health initiative at Arab Health
Dubai / WAM The Dubai Health Authority’s (DHA) Dubai Health Insurance Corporation, at the Arab Health Exhibition and Congress 2023, highlighted the features of the “Wayakom†health initiative designed to serve the needs of Emirati senior citizens in Dubai. Saleh Al Hashimi, CEO of Dubai Health Insurance Corporation at the DHA, highlighted that the distinguished service was launched in ...
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31 January
Dubai records AED2bn in realty deals in one day
Dubai / WAM Dubai real estate market recorded 568 sales transactions worth AED1.32 billion, in addition to 72 mortgage deals of AED673.74 million, and 12 gift deals amounting to AED30.06 million on Monday, data released by Dubai’s Land Department (DLD) showed. The sales included 532 villas and apartments worth AED1.18 billion, and 36 land plots worth AED141.76 million. The ...
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31 January
Danube Properties launches AED1.4b project in JLT, Dubai
Dubai / Gulf Time Danube Properties, the UAE-based affordable housing pioneer and one of the most dynamic and popular private real estate developers in the UAE, unveiled its largest real estate project, Viewz, a set of twin high-rise towers that once complete will deliver apartments and Sky Villas, with a development value exceeding AED1.4 billion. Launched in partnership with ...
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31 January
Ryanair says profitable run to continue as bookings return
Bloomberg Ryanair Holdings Plc said it’s confident it can sustain its profitable run into next year and beyond as surging travel demand drives fares and as the company operates more high-capacity, fuel-efficient aircraft. Profit after tax in the fiscal third quarter through December reached €211 million ($229 million), compared with a loss of €96 million a year earlier, Europe’s ...
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