Best’s Market Segment Report: Profits and Capital Rebound for Listed Insurers in United Arab Emirates

Best’s Market Segment Report: Profits and Capital Rebound for Listed Insurers in United Arab Emirates

LONDON–(BUSINESS WIRE/AETOSWire)— For the listed insurance market in the United Arab Emirates (UAE), the first half of 2021 has been marked by a notable rebound in profit and overall capital levels, compared with the picture 12 months previously, according to a new AM Best report. The Best’s Market Segment Report, titled, “Profits and Capital Rebound for Listed Insurers in the United Arab Emirates”, states that the UAE insurance market’s performance as a whole has been resilient to challenging macroeconomic conditions and intense competition. Overall market premiums written reached AED 15.1 billion for the…

Dubai: Daman Investments setting new performance benchmarks with the first Islamic Fixed Maturity Fund

Dubai: Daman Investments setting new performance benchmarks with the first Islamic Fixed Maturity Fund

Dubai, United Arab Emirates, (AETOSWire): Daman Investments PSC, one of the leading non-banking financial services institutions in the UAE, launched its first Islamic Fixed Maturity Fund in November 2020 which has set new performance benchmarks in the region. In less than a year, the fund has Grossed _77.59__ Million USD in Assets under Management making it one of the largest Islamic Fixed Maturity Funds not just in UAE but in the entire MENA region. The Shari’a Compliant Fund has a final maturity in December 2024 and aims to provide income…

Arab Bank Group first half 2021 net profits grow by 20%

182.4 مليون دولار أرباح مجموعة البنك العربي في النصف الاول من العام 2021

Arab Bank Group first half 2021 net profits grow by 20% Arab Bank Group reported net income after tax of $182.4 million as compared to $152.1 million for the same period last year, recording a growth of 20%. During the first quarter of 2021, Arab Bank consolidated the financial statements of Oman Arab Bank under its Group accounts increasing total assets by $8.2 billion to reach $63 billion compared to $51.6 billion for the same period last year. Oman Arab Bank has also recently finalized the acquisition of Al Izz…

Transguard Group Announces Profitable Year-End Results Despite Severe Pandemic Challenges

Transguard Group Announces Profitable Year-End Results Despite Severe Pandemic Challenges

Dubai, United Arab Emirates,  (AETOSWire): Transguard Group has today announced a profit of AED 32.1 million and revenue of AED 1.87 billion for FY 20/21; the UAE’s leading business solutions provider also revealed AED 2.1 billion in new and renewed business. “In a year otherwise dominated by uncertainty and prediction-defying challenges, Transguard reliably provided insightful solutions and best-in-class client support,” explained Greg Ward, Managing Director, Transguard Group. “Our innate ability to adapt to this new business landscape was key in achieving a strong end to a difficult year.” One of…

Sidra Capital’s USD Private Finance Funds Continue To Achieve Target Returns despite The Effects of COVID-19 Pandemic

Sidra Capital’s USD Private Finance Funds Continue To Achieve Target Returns despite The Effects of COVID-19 Pandemic

USD Income Fund generates an annual return of 8% while USD Mutajara Fund registers healthy 5% returns Jeddah, Saudi Arabia, March 24, 2021, (AETOSWire) – Sidra Capital, a Shari’ah compliant asset management firm headquartered in Jeddah, Saudi Arabia and regulated by the Capital Market Authority (CMA), has announced healthy annual returns on two of its US Dollar-denominated funds: the USD Income Fund, which generated above-target returns of 8%, and the US Dollar Mutajara Fund, which met its targeted return of 5% for 2020. The returns are especially impressive in light…

Saudi banks have thrived rather than survived ; a dynamic outlook for 2021

كي بي إم جي: توقعات باستمرار قوة أداء القطاع المصرفي

KPMG Report: Despite pandemic, Saudi banks have thrived rather than survived; a dynamic outlook for 2021  KPMG’s latest report on the financial sector, Banking Perspectives 2021, records the sector seen moving towards a better year. Backed by government reforms, halt in credit losses (ECL), stable liquidity, stronger CAR, and transformational changes, banks are heralding stable year, as compared to a shaky outlook in the corresponding period last year. KPMG reported that the 11 Tadawul-listed banks stayed resilient at the end of 31 December 2020 reflecting signs of recovery since uncertainties…

Aafaq Islamic Finance launches exclusive offers for "Sahobat" product customers

Aafaq Islamic Finance launches exclusive offers

Announces the winners of the first monthly draw for 2021 for the Sharia-compliant “Sahobat” product. Aafaq Islamic Finance, the leading Islamic Finance Company, offering financial products and services in compliant with Sharia law throughout the UAE and the region, has announced the names of the companies to win the first monthly draw of the year under the ‘Sahobat’ campaign that was held in February. Sahobat is a product by Aafaq Islamic Finance that provides its retail customers with an opportunity to save through investments that comply with the Sharia law…

Aafaq Islamic Finance launches the ‘Kunooz’ promotional campaign for the citizens and residents of the UAE

“آفاق الإسلامية للتمويل” تطلق مبادرة كنوز”

Aafaq Islamic Finance, the leading Islamic Finance Company in the UAE, has recently announced one of its most extensive promotional campaigns yet, “Kunooz”, focused on its wide range of personal products that are compliant with Islamic Sharia law. During the campaign, which runs till end of March 2021, individuals can win a host of exciting prizes, including Apple iPhone, Watches and Samsung Tablets and LED TVs. The grand draw will be held at the end of the campaign, where more than 100 winners will walk home with valuable prizes. The…

Tesla or Bitcoin? Two ground-breaking assets of the “covid-era”

Tesla or Bitcoin? Two ground-breaking assets of the “covid-era”

Dubai, United Arab Emirates, (AETOSWire): Tesla and Bitcoin prices have had a strong rally, making it one of the best-performing assets in 2020. Tesla joined the prestigious Standard & Poor’s 500 stock index on December 21 after posting five consecutive quarters of profit. $TSLA surpassed Facebook regarding market value, becoming the fifth most valuable company in the S&P 500. The recent Bitcoin rally boosted after the US-based online payments company PayPal allowed its customers to use virtual currency on its network. During the last week, Bitcoin dropped more than 10%…

GROUPE RENAULT “RENAULUTION” STRATEGIC PLAN

خطة مجموعة رينو“RENAULUTION” الإستراتيجية

Boulogne-Billancourt, January 14, 2021 – Following approval by the Board of Directors, Luca de Meo, CEO Groupe Renault, presents today “Renaulution”, a new strategic plan, which aims to shift Groupe Renault’s strategy from volume to value. This strategic plan is structured in 3 phases that are launched in parallel: “Resurrection”, running up to 2023, will focus on margin and cash generation recovery, “Renovation”, spanning up to 2025, will see renewed and enriched line-ups, feeding brand’s profitability, “Revolution” from 2025 and onwards, will pivot the business model to tech, energy and…