Arab Bank Group profits grow by 26% for nine months 2021

26% نمو أرباح مجموعة البنك العربي للتسعة أشهر الأولى من العام 2021

Arab Bank Group profits grow by 26% for nine months 2021 Arab Bank Group reported net income after tax of $271.7 million as compared to $215.2 million for the same period last year, recording a growth of 26%. Arab Bank consolidated the financial statements of Oman Arab Bank under its Group accounts increasing total assets by $8.4 billion to reach $63.7 billion compared to $52.5 billion for the same period last year. Customer deposits grew by 24% to reach $46.6 billion, while loans grew by 28%, to reach $34.1 billion.…

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…

Aafaq Islamic Finance announces 68% increase in profits in 2020

“آفاق الإسلامية للتمويل” تحقّق زيادةً في الأرباح بنسبة 68%

Despite the repercussions of the current global pandemic, Aafaq Islamic Finance, the leading institution in the financial sector across the UAE and the region, revealed profitable results of the Annual General Meeting of shareholders held for the fiscal year 2020. The meeting was held remotely in the presence of members of the company’s board of directors, representatives of the Ministry of Economy, the Fatwa and Sharia Supervisory Board, external auditors and the Central Bank last Wednesday. At the meeting which was chaired by Mr. Matar Hamdan Al Ameri, Second Vice…

SPACE FOR GIANTS ANNOUNCES WALK FOR GIANTS CAMPAIGN

جمعيّة SPACE FOR GIANTS الخيرية تُطلق حملة WALK FOR GIANTS

The Fundraising and Conservation Campaign Features Sustainable Capsule Collections from Gemfields and NET-A-PORTER  International conservation charity Space for Giants, in partnership with Gemfields, announces Walk for Giants, a fundraising and awareness-building campaign for African wildlife conservation. The campaign will kick off with the release of two exclusive capsule collections: a 44-piece collection from Gemfields, a world-leading supplier of responsibly sourced coloured gemstones; and a series of 15 sustainable collections from NET-A-PORTER, the world’s leading online luxury fashion retailer. Proceeds from these capsule collections will bring critical support to protect Africa’s…

GCC businesses need to pursue Keyman Insurance to ensure profit stability and sustainability of business

تحتاج الشركات الخليجية إلى متابعة التأمين على المسؤول الرئيس في الشركة

Keyman Insurance could play a vital role in ensuring business continuity and profit sustainability in the Gulf region, especially during challenging environment, especially like the current COVID-19 crisis Businesses in the Gulf countries need to pursue Keyman Insurance to retain key professionals who make a difference in running businesses efficiently and deliver profits year after year, according to a top industry official, who urges Keyman Insurance to become a mandatory requirement for securing bank loans. Keymen or key professionals play a crucial role in running the business and deliver profits…

HFZA continues its success in attracting foreign investments

حرة الحمرية تعزز نجاحاتها في استقطاب الاستثمارات الأجنبية

Two giant African petrochemicals companies have leased over 1,000,000 sq. ft. of land at HFZA The companies will focus on exporting to global markets from Sharjah Al Mazrouei: the continued investment in HFZA is a testament to our success in contributing to Sharjah’s pioneering position as a business destination for companies Despite Covid-19’s global economic fallout, the Hamriyah Free Zone Authority, HFZA, has reinforced its reputation and position as a prominent destination regionally and globally after two giant African petrochemicals companies (Global Vision Specialty Chemicals & Proud Lubricants and Grease…

proactive analysis that envisions the future of real estate sector

proactive analysis that envisions the future of real estate sector

Ongoing competition & changes in profit rates call for more effective expenditure management & sustainability of operations, says Medallion Associates Masood Al Awar: “Technological innovations & specialized experience key pillars of real estate sector in 2021” Post-COVID trends & directions include innovative operations management along with enhanced added value of services & products at lowest possible cost The implications of the current global circumstances will lead to radical changes in the real estate sector on the long run, as is the case with various sectors, finds Medallion Associates, a leading…

KPMG: Saudi banks stay resilient amid pandemic, backed by new regulations

«كي بي إم جي» : إثر تبني مبادئ الحوكمة البيئية والاجتماعية وحوكمة الشركات

News Highlights: Banks report strong capital and liquidity base COVID-19 increased housing demand; house mortgage witnessed double-digit growth Retail property buyers welcome lower tax rate from 15% back to 5% Institutionalization of the real estate transaction tax (RETT) Multiple efforts towards customers’ endurance In the wake of COVID-19, the process of loss quantification continues to be a challenge for banks KPMG foresees Q4 2020 as continued tenacity and resilience of the sector Dubai, December 15, 2020:  KPMG Q3 2020 Saudi banking sector analysis report records the sector experiencing a range of…

Investing in impact enterprises a solid business model for our times , experts opine at SEF 2020 inaugural discussions 

في جلستين حواريتين خلال فعاليات اليوم الأول من مهرجان الشارقة لريادة الأعمال

4th annual Sharjah Entrepreneurship Festival convenes leading innovators from around the world at two riveting panel sessions The fourth edition of the fully virtual Sharjah Entrepreneurship Festival (SEF) organised by the Sharjah Entrepreneurship Center (Sheraa) opened on December 6, Sunday, with two powerful discussions, which have impressed upon the need for investing in the next generation of impact entrepreneurs. Everyone can be a changemaker Titled ‘The Butterfly Effect: How Everyone can be a Changemaker’, the first discussion of the day saw the participation of a distinguished panel featuring Muhammad Yunus, Nobel…

Gulf Brokers: Markets cheer a Biden victory

Gulf Brokers: Markets cheer a Biden victory

Dubai, United Arab Emirates, (AETOSWire):Stocks and oil prices cheered the confirmation of Joe Biden’s victory, which means a more generous stimulus package to be deployed as soon as possible. The recent rally also supported by more upbeat news on the coronavirus vaccine. Meanwhile, Donald Trump rejected the outcome of the U.S. election, mounting legal action against vote counting in states where he lost. US stock indices climbed to the highest levels in eight months after Joe Biden’s victory in the US presidential race. The news reports about progress in the…