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25 October 10:55 PM

UAE news

Higher net profits are driven by improving underlying business momentum
04:33 PM NBF records 36% higher profits in 9M
Abu Dhabi – Mubasher: The net profits of National Bank of Fujairah (NBF) increased by 36.4% to AED 90.44 million during the first nine months of 2021, compared to AED 66.315 million in the same period of 2020, as shown by the bank's consolidated …
Financial Results
The main index inched down by around 0.2%
03:18 PM UAE stock markets close Monday in red zone
UAE - Mubasher: The UAE stock markets have ended Monday's trading session in the red zone. The benchmark index of the Dubai Financial Market (DFM) went down 0.51% to settle at 2,865 points by the end of Monday's session. A total of 214.13 million …
Trading Activities
Emirates has already restored 90% of its network
02:41 PM Emirates plans to hire over 6,000 staff over next six months
UAE - Mubasher: Emirates Airline is planning to hire more than 6,000 staff over the upcoming six months amid the easing of restrictions because of the wider administration of vaccines. This decision was taken as the Dubai-based airline needs …
Companies Investments
The ministry conducted 281,817 COVID-19 tests
01:43 PM UAE registers 97 COVID-19 cases
UAE - Mubasher: The UAE Ministry of Health announced on Monday 97 new coronavirus (COVID-19) cases to bring the total number of cases to 739,381. The ministry conducted 281,817 COVID-19 tests to detect further cases. The UAE reported 129 recovered …
The GCI evaluates the competitiveness of 156 cities
01:09 PM Dubai ranks among top 30 cities in 2021 Global Cities Index
UAE - Mubasher: Dubai has been placed in the 23rd position globally in the 2021 Global Cities Index (GCI), according to the 2021 Global Cities Report published by Kearney, a global management consulting company. The emirate has climbed four places …
Macroeconomics
The DFSA is outlining proposals for other tokens
12:15 PM DFSA launches regulatory framework for investment tokens
UAE - Mubasher: The Dubai Financial Services Authority (DFSA) has introduced a regulatory framework for investment tokens. The regulatory framework, which defines an investment token as either a security token or a derivative token, is the first …
Macroeconomics
The Fund’s portfolio includes a number of investments
11:23 AM Chimera Capital's venture capital fund exceeds $50m initial target
UAE - Mubasher: Chimera Capital, an Abu Dhabi Global Market (ADGM)-regulated fund manager and a wholly-owned subsidiary of Chimera Investment, has witnessed the second close of Chimera Global Fund I LP, exceeding its initial target of $50 million. …
Companies Investments
The liquidity provider will not hold over 5% of the company's share capital
10:40 AM Sharjah Group appoints BHM Capital as liquidity provider
Abu Dhabi – Mubasher: Sharjah Group has inked an agreement with BHM Capital Financial Services to act as a liquidity provider for its traded shares on the Abu Dhabi Securities Exchange (ADX). Under the agreement, the liquidity provider will not …
Companies Investments
A co-investment was made in a global healthcare education provider
10:14 AM GFH partners with Schroders Capital to invest in private equity deals
Mubasher: GFH Financial Group has inked a strategic partnership with Schroders Capital, the private markets investment division of the UK's Schroders, to invest in a number of private equity and venture capital deals. The partnership will enable …
Companies Investments
The company generated revenues of AED 11.424 billion
09:44 AM IHC unit Alpha Dhabi's profits surge in 9M
Abu Dhabi - Mubasher: Alpha Dhabi Holding reported AED 2.155 billion net profits attributable to the owners during the first nine months of 2021, compared to AED 186.252 million in the year-ago period, according to the company's interim …
Financial Results
The benchmark index of the DFM inched up 0.82%
24 October 03:55 PM UAE stock markets close Sunday in green zone
UAE - Mubasher: The UAE stock markets have ended Sunday's trading session in the green zone. The benchmark index of the Dubai Financial Market (DFM) inched up 0.82% to settle at 2,880.61 points by the end of Sunday's trading session. A total …
Trading Activities
The ministry conducted 230,026 COVID-19 tests
24 October 01:45 PM UAE records 94 COVID-19 cases
UAE - Mubasher: The UAE Ministry of Health has announced 94 new coronavirus (COVID-19) cases to raise the total number of cases to 739,284. The ministry conducted 230,026 COVID-19 tests to detect further cases. The UAE reported 123 recoveries to …
The overall Expat Insider 2021 ranking includes four topical indices
24 October 01:20 PM UAE leads region in Quality of Life Index
UAE - Mubasher: The UAE has ranked the first in the MENA region and 17th globally in the 'Quality of Life Index', as shown by the Expat Insider 2021 survey published by Germany-based InterNations, specialised in evaluating the quality of living …
Macroeconomics
The MoU was signed during the 41st edition of GITEX Technology Week
24 October 12:02 PM Ericsson partners with du, Pure Harvest Smart Farms for 5G farming solutions
Dubai – Mubasher: Ericsson has inked a Memorandum of Understanding (MoU) with Emirates Integrated Telecommunications Company (du) and Pure Harvest Smart Farms to offer agricultural sites in the UAE's Al Ain innovative 5G smart farming solutions. …
Companies Investments
This decision aims to support the NAFIS programme
24 October 11:16 AM Aldar to create 1,000 jobs for UAE national by 2026
Abu Dhabi – Mubasher: Aldar Properties will provide job opportunities for 1,000 Emiratis over the next five years, which is in line with the Emiratisation goals announced in the UAE’s 'Projects of the 50' initiative. This decision aims to support …
Macroeconomics
SICO has liquidated the market-making portfolio
24 October 10:38 AM GFH receives CBB's approval for treasury share repurchase
Mubasher: GFH Financial Group has obtained the approval of the Central Bank of Bahrain (CBB) to repurchase treasury shares, which is set to commence from 24 October 2021. This approval came after the ordinary general meeting (OGM) had agreed …
Companies Investments
The company has formed a team of international experts
24 October 10:02 AM Union Properties' unit files AED 3.5bn arbitration claims
Dubai – Mubasher: The total value of arbitration claims filed by one of Union Properties' subsidiaries has reached around AED 3.5 billion. The arbitral tribunal is expected to issue its decisions on a number of the claims in the second quarter …
Companies Investments
NAS will manage Siginon's businesses
24 October 09:36 AM Agility's unit acquires stake in Kenya-based Siginon Aviation
Mubasher: National Aviation Services (NAS), a subsidiary of Agility Public Warehousing, has acquired a 51% stake in Kenya-based Siginon Aviation in exchange for around $40 million (KWD 12 million). Siginon Aviation is the largest aviation cargo …
Companies Investments
The initiative aims to boost partnerships between public and private sectors
20 October 04:28 PM UAE launches Pioneers of Digital Economy initiative
UAE - Mubasher: The UAE government has introduced the "Pioneers of the Digital Economy" initiative to develop the capabilities of young talents and empower them with the knowledge and expertise necessary for the development of advanced future …
Macroeconomics
UAE will develop scientific instruments for Israel’s Beresheet-2 mission
20 October 03:40 PM UAE, Israel Space Agencies ink agreement to enhance space cooperation
UAE - Mubasher: The UAE Space Agency has entered into a Memorandum of Understanding (MoU) with the Israel Space Agency to cooperate in scientific research, space exploration, and data analysis and exchange expertise. Under the agreement, the UAE …
Macroeconomics
The ministry conducted 304,976 COVID-19 tests
20 October 02:25 PM UAE reports 112 new COVID-19 cases
UAE - Mubasher: The UAE Ministry of Health announced on Wednesday 112 new coronavirus (COVID-19) cases to bring the total number of cases to 738,924. The ministry conducted 304,976 COVID-19 tests to detect further cases. The total number of …
The initiative will offer new financing solutions
20 October 01:44 PM ADDED introduces Smart Manufacturing Project
UAE - Mubasher: The Abu Dhabi Department of Economic Development (ADDED) has launched the Smart Manufacturing Project to support manufacturing facilities to adopt industry 4.0 applications. Through the project, the department seeks to improve the …
Companies Investments
The transaction is ADIA's largest investment in Indonesia
20 October 12:59 PM ADIA to invest $400m in Indonesia-based GoTo’s pre-IPO fundraising
UAE - Mubasher: A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) has inked an agreement with GoTo Group, an Indonesia-based digital company, for ADIA to invest $400 million in GoTo's pre-IPO fundraising. The transaction is …
Companies Investments
The offering size was confirmed at 1.145 billion ordinary shares
20 October 12:16 PM Fertiglobe completes IPO bookbuilding process, sets final offer price
Abu Dhabi - Mubasher: Fertiglobe has completed the bookbuilding process for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) and set the final offer price at AED 2.55 per ordinary share. The offering size was confirmed …
Initial Public Offerings
The earnings per share (EPS) settled at AED 0.148
20 October 11:35 AM Emirates Islamic Bank turns to profitability in 9M
Dubai – Mubasher: Emirates Islamic Bank recorded net profits of AED 804.238 million during the first nine months of 2021, against net losses of AED 311.238 million in the year-ago period, according to the bank's unaudited consolidated interim …
Banking and Finance