Pandemic shock leads to ‘overhaul’ of Saudi finances
The full scale of the economic shock from the coronavirus pandemic has been revealed in radical measures taken by Saudi…
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FAB Switzerland renews its long-term contract with Avaloq
The Swiss subsidiary of First Abu Dhabi Bank (FAB) has selected Avaloq’s business process as a service (BPaaS) solution for…
UAE criticised for ‘ineffective’ sanctions and money laundering efforts
Authorities in the United Arab Emirates are facing criticism for their “minimal” implementation of UN sanctions and lacklustre efforts to…
Gulf banks can absorb up to $36B shock
Despite facing deterioration in profitability in 2020 because of the dual shock of Covid-19 and the decline in oil prices,…
UAE’s ADCB posts 82% drop in Q1 net profit
Abu Dhabi Commercial Bank reported a Q1 net profit of Dhs209m, down nearly 82 per cent from Dhs1.152bn in the…
Qatar Central Bank Is “Actively Working” on Fintech Initiatives, and Exploring Blockchain Use Cases
Qatar’s central bank has proposed a second strategic plan which involves establishing clear policies that aim to support venture capital…
Four in 10 rich UAE investors plan to invest more in next 6 months, UBS says
Most wealthy investors in the UAE are either retaining their current stock portfolios or planning to invest more over the…
A guide to relief and stimulus measures for businesses in Dubai amid COVID-19 crisis
Given the economic slowdown caused by the COVID-19 pandemic, businesses in Dubai have been subjected to a variety of relief…
Abu Dhabi Islamic Bank first-quarter profit plunges 55%
Abu Dhabi Islamic Bank on Sunday (May 10) reported first-quarter Group net profit of 269.69 million dirhams ($73.44 million) compared…
ADX gains, real estate banks weigh on DFM
The UAE and other Gulf markets began the week mixed but the week ahead looks positive as lockdown measures ease…
Dubai real estate fund says irregular trading dented share price
Emirates REIT, a Dubai-based sharia-compliant real estate investment trust, said on Sunday it had found evidence of irregular trading activity…
V versus U by Gary Dugan
The grind higher in US equities appears to back the V-shaped recovery view A possible 25% unemployment rate would signal…