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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

IFZA, CBD ink banking deal

IFZA’s priority remains to support its Professional Partners and Licensees through bespoke services. (WAM)
  • The free zone companies will now be able to also obtain personalized services.
  • A study by Dubai Chamber of Commerce said entrepreneurs face a lot of issues in opening a corporate bank account in UAE.

IFZA Dubai signed an agreement with the Commercial Bank of Dubai (CBD) to provide IFZA Free Zone companies with easy access to banking services and financial solutions.

The free zone companies will now be able to easily open special corporate bank accounts and obtain personalized services through dedicated onsite CBD relationship managers, starting July 2022.

A study by the Dubai Chamber of Commerce said entrepreneurs face a lot of challenges in opening a corporate bank account in the UAE.

65 percent of the entrepreneurs interviewed cited banking as their biggest challenge in a company set up in the UAE.

A study by IFZA showed 50 percent of the respondents echoed similar sentiments.

This includes facing issues in opening a bank account due to lengthy application processes, and difficulty in compliance or lack of information.

To ease these conditions, IFZA’s priority remains to support its Professional Partners and Licensees through bespoke services that aim to make doing business as easy as possible.