July, 2016

• 18 July

  Emirates Islamic posts AED137mn half-yearly profit

    Dubai / Emirates Business Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has delivered strong results for the period ending June 30, 2016. Hesham Abdulla Al Qassim, Chairman of Emirates Islamic, Vice Chairman and Managing Director of Emirates NBD, said: “We are extremely pleased with our strong growth and performance that underlines the growing relevance ...

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• 18 July

  UAB generates net profit of AED71mn in first half of 2016

  

    Sharjah / WAM The United Arab Bank, UAB, announced its financial results for the six months ended June 30, generating a net profit of AED71 million. The bank says that it is returning to its traditional ‘core’ corporate roots, complemented by focussed retail and treasury propositions, while continuing to pro-actively de-leverage from its ‘non-core’ higher risk portfolios in an ...

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• 18 July

  ADGM, China’s SRC sign pact to boost regulatory collaboration

  

    ABU DHAB-BEIJING / WAM The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and the China Securities Regulatory Commission (CSRC) entered into a Memorandum of Understanding (MoU) to facilitate cross-border activities and enhance regulatory collaboration between the two jurisdictions. The MoU provides a framework to provide assistance, exchange regulatory information and cooperate in the supervision ...

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• 18 July

  ADCB posts AED2.14 billion half-yearly profit

  

    Dubai / Emirates Business “With our resilient balance sheet and strong franchise, we remain focused on delivering sustainable growth and improving long-term financial performance and returns for shareholders. Our strategic pillars continue to define our business model and provide a clear direction for us. We are well positioned for the second half of 2016 and confident in our ability ...

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• 18 July

  GOP minds are at sea, but not the right one

  

    WASHINGTON Neither the unanimous decision by the Permanent Court of Arbitration in The Hague, nor China’s rejection of it, was surprising. The timing of it was, however, as serendipitous as China’s rejection is ominous. Coming as Republican delegates convene on Lake Erie’s shore, the tribunal’s opinion about the South China Sea underscores the current frivolousness of American politics, which ...

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• 18 July

  Ankara must work to restore investors’ faith

    The recent failed coup attempt was the last thing expected by the Turkish government, which is grappling with a lot of odds that cast shadow over tourism in particular and economy in general. The turmoil will take economic toll on a country where tourism is an essential source of foreign currency to finance current-account deficit. The sector employs 8 ...

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• 18 July

  Beware of robots telling people how to vote

    Mark Buchanan Voting is partially a social endeavor, in which people consider the opinions of others when making up their own minds. Increasingly, though, they’re being influenced by an inhuman force: software robots specifically designed to deceive them. Lest democracy be undermined, humans need help in distinguishing their brethren from the bots. Two years ago, in a report filed ...

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• 18 July

  China hardens position on South China Sea

    China has taken a leap towards clarifying its claims in the South China Sea, but in a direction that could intensify frictions. The International Tribunal on the Law of the Sea delivered a sweeping ruling Tuesday against China in an arbitration case initiated by the Philippines. The result significantly limits the size of the maritime zones and scope of ...

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• 18 July

  India grapples to find landing slots

  

    Bloomberg At last week’s Farnborough Air Show, an Indian carrier placed a $7.7 billion order while an additional $72 billion of contracts are in the offing. The next challenge: Finding landing and parking slots for these planes. As air travel heats up in the world’s fastest-growing major aviation market, infrastructure has failed to keep pace with traffic growth fuelled ...

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• 18 July

  SpaceX propels cargo to space station

  

    Miami / AFP A SpaceX rocket blasted off on Monday toward the International Space Station, carrying a load of supplies for the astronauts living in space, including equipment to enable future spaceships to park at the orbiting outpost. “Falcon 9 is on its way,” said a commentator at SpaceX mission control as the white rocket launched under a dark night ...

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