July, 2019

• 24 July

  SIB profit rises to AED291mn

  Sharjah / WAM The Sharjah Islamic Bank’s (SIB) net profit rose to AED290.5 million in first half of 2019 compared to AED283 million achieved during the same period last year, an increase of three percent. The banks total assets reached AED44.3 billion at end of first half of this year, bringing it to the same level as it was at ...

  Read More »
• 24 July

  India plans $10b global bond sale in October

  Bloomberg India is considering an option to raise $10 billion in one go from its first overseas bond sale as early as October, according to people with knowledge of the matter. The government would prefer to sell yen or euro-denominated debt so as to offer lower yields. A dollar bond isn’t ruled out given there would be more liquidity, while ...

  Read More »
• 24 July

  UAE and Indonesia share path of tolerance, growth

  ABU DHABI / WAM HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, arrived in Indonesia on Wednesday on a state visit. The two countries’ shared vision for tolerance and economic growth are taking bilateral relations to new levels. As Muslim-majority countries, the diplomatic relations between Indonesia and ...

  Read More »
• 24 July

  Abu Dhabi’s GDP rises 3.3% to AED226 billion in Q1 2019

  

  ABU DHABI / WAM Abu Dhabi’s gross domestic product (GDP) at current prices for Q1 2019 rose by 3.3 percent to AED226 billion, compared to AED219 billion in the first quarter of 2018. The Abu Dhabi’s GDP at constant prices rose to AED207 billion in the first quarter of 2019, compared to AED196 billion for the same quarter of 2018, ...

  Read More »
• 24 July

  Eshraq Investments posts AED4m profit in first-half

  Abu Dhabi / Emirates Business Eshraq Investments PJSC, the Abu Dhabi based investment company listed on Abu Dhabi Securities Exchange (ADX), reported a net profit of AED 4 million for the period ending on June 30, achieving another profitable half yearly result under the new management. Eshraq’s diversification pla-ns continued to pay off with each of its business divisions recording ...

  Read More »
• 24 July

  WeWork to launch first UAE location at Hub71

  Abu Dhabi / Emirates Business WeWork announced the launch of its first location in the United Arab Emirates in early 2020 at Hub71, a global tech ecosystem based in Abu Dhabi Global Market Square at Al Maryah Island. Alongside Hub71, WeWork will open over 5,000 square meters of collaborative and inspirational workspace tailored to tech companies (VCs) universities, corporates and ...

  Read More »
• 24 July

  Mohamed, Indonesian president hold talks

  

  JAKARTA / WAM HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, arrived in Jakarta, marking his state visit to the Republic of Indonesia. Upon the arrival at the Soekarno-Hatta International Airport, Sheikh Mohamed bin Zayed was received by President JokoWidodo of Indonesia. HH Sheikh Mohamed and President ...

  Read More »
• 24 July

  UAE’s Hope Probe to launch to Mars in second half of 2020

  

  DUBAI / WAM The UAE Space Agency (UAESA) and the Mohammed bin Rashid Space Centre (MBRSC) have confirmed that the launch of the Emirates Mars Mission (EMM)’s Hope Probe, is in less than a year. MBRSC said it plans to launch the Hope Probe into orbit around mid-July 2020, and it is expected to reach Mars orbit in the first ...

  Read More »
• 24 July

  Noor Bank net profit rises record 29% in H1

  

  DUBAI / Emirates Business Noor Bank, one of the leading Shari’ah-compliant banks in the UAE, has announced a record net profit of AED410 million in H1 2019, notching up a 29 percent increase over the first six months of last year and an 11 percent increase on the 2017 full-year net profit. Noor Bank’s revenue rose by seven per cent ...

  Read More »
• 24 July

  Trade war and US shale to keep lid on oil: Indian refiner

  

  Bloomberg The US-China trade war and the growth of American oil supply will keep crude prices in check, notwithstanding Middle East tensions, according to the head of one of India’s biggest refiners. Brent crude will likely remain in a range of $60 to $70 a barrel and could fall towards $60 if demand worsens, said Mukesh Kumar Sura-na, the chairman ...

  Read More »