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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.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.
  • Lazard hires Citi Saudi CEO

    Al-Khatib will support the firm’s operations in MENA.

    Citigroup confirmed Al-Khatib's resignation and said that Carmen Haddad will be taking over as acting CEO

    The Saudi national was a leading figure in Saudi Aramco's initial public offering in 2019, the biggest ever share sale that raised almost $30 billion

  • Digital payments help Middle East businesses recover

    Widespread availability of cashless payment methods and universal access to affordable internet services are major facilitators of digital transformation in...

    Widespread availability of cashless payment methods and universal access to affordable internet services are major facilitators of digital transformation in the region

    The use of virtual corporate credit cards in the MENA region increased 126 percent between the third quarter of 2021 and the third quarter of 2022, reports suggest

  • Abdullah bin Zayed meets Benjamin Netanyahu

    UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and Israeli Opposition Leader and former...

    With the signing of the Abraham Accords Peace Agreement in 2020, relations between Israel and the UAE have improved.

    The UAE top diplomat met with the former Israeli premier as part of his current official visit to the Israel..

  • Union of Arab Banks appoints CS Events strategic partner

    Dubai, UAE: Union of Arab Banks (UAB), the apex body of the $4 trillion banking industry in the Arab World,...

    As partner, CS Events will co-create, market and deliver UAB’s activities in the UAE and Saudi Arabia.

    Though Arab world’s banking sector’s assets surpassed $4 trillion, more than 50 percent population in the Middle East and Africa remains unbanked.

  • South Korea to enhance ties with hi-tech firms in Middle East

    South Korea wants to strengthen its relations with the Middle East with a focus on high-tech industries, according to Seoul’s...

    The focused hi-tech industries in the Middle East are energy, hydrogen, artificial intelligence and health.

    The South Korean Foreign Minister said that they are trying to upgrade their ties with all the countries.

  • GCC-India ink MoU for consultations mechanism

    India has signed a Memorandum of Understanding (MoU) with the Gulf Cooperation Council (GCC) Secretariat on the "mechanism of consultations"...

    The MoU was signed between India’s Minister for External Affairs Dr. S Jaishankar, and the GCC Secretary-General Dr. Nayef Falah Mubarak Al-Hajraf.

    India’s Ministry of External Affairs said, "both sides reviewed bilateral relations and discussed ways to enhance them"

  • Dubai records weeklong realty transactions worth $2.49 billion

    Dubai, UAE---A total of 2,317 real estate transactions worth AED8.9 billion ($2.49 billion) were conducted during the week ending 16...

    A total of 227 plots were sold for AED4.35 billion, and 1,560 apartments and villas were purchased for AED3.44 billion.

    The top three transactions were plots of land in Madinat Al Mataar that sold for AED988 million, AED259.24 million in Al Yufrah 1 and AED988 million in Madinat.

  • Stocks mostly slide; pound hits 37-year dollar low

    Stock markets mostly slumped Friday, while the British pound tanked to a 37-year dollar low as weak UK retail sales...

    Sales by volume dived 1.6 percent in UK last month, more than triple expectations.

    Sterling has hit a series of 1985 lows in recent weeks, also as the US Federal Reserve implements aggressive hikes interest rate hikes.

  • UAE participates in G20 Finance Track’s Infrastructure meeting

    UAE Ministry of Finance (MoF) participated in G20 Finance Track’s fourth and last Infrastructure Working Group (IWG) meeting for 2022...

    The members of the Infrastructure Working Group deliberated the progress made on scaling up sustainable infrastructure investments.

    The IWG also discussed means of promoting private sector investment in sustainable infrastructure.

  • Salik ups number of IPO shares

    The subscription period for the IPO remains unchanged.

    The Government of Dubai will continue to own 75.1 percent of Salik’s existing share capital.

    Salik reported core earnings of $217.82 million in the first half of this year, compared with 637.41 million in the same period in 2021.