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MIDEAST STOCKS #Saudi gains on banking boost; Etisalat drags #AbuDhabi lower | Reuters

MIDEAST STOCKS Saudi gains on banking boost; Etisalat drags Abu Dhabi lower | Reuters Most stock markets in the Gulf rose in early trade on Monday, with banks boosting the Saudi index, while the Abu Dhabi bourse was hit by declines in Etisalat shares.Saudi Arabia's benchmark index (.TASI) gained 0.5%, with Al Rajhi Bank (1120.SE) rising 1.9% and petrochemical firm Saudi Basic Industries (2010.SE) was up 1.2%.Al Rajhi Bank posted on Sunday a net profit of 3.6 billion riyals ($959.92 million) fo...
Tags: Travel, Saudi Arabia, China, United Arab Emirates, Dubai, Abu Dhabi, Uae, Reuters, Etisalat, Tasi, Rupert Neil Bumfrey, Saudi Basic Industries, Al Rajhi Bank, DFMGI, Qatar Aluminium Manufacturing Co, Mashreq Bank MASB


Economic revival boosts H1 revenues and profits of #UAE banks | Banking – Gulf News

Economic revival boosts H1 revenues and profits of UAE banks | Banking – Gulf News All leading banks in the UAE have reported strong growth in both revenues and net profits in the first half of 2021, clearly pointing to a sustained revival in the economic conditions in the country.Most banks have also reported loan growth, deposit growth and substantial gains in non-interest income that to a great extent mitigated slower growth in interest income due to the low interest rate environment.A subs...
Tags: Travel, Uae, Gulf News, Rupert Neil Bumfrey, Central Bank of UAE


How 'rain drones' in Dubai use electric shocks against clouds to trigger rain to battle extreme temperatures

Cloud seeding can increase low annual rainfall. Getty Images Dubai has launched a project to cope with high temperatures. The project is based on Dubai creating its own rain. To do this, drones that discharge electrical charges are used. See more stories on Insider's business page. Fighting the heat isn't always easy but in places like the United Arab Emirates where temperatures can easily reach 120 degrees Fahrenheit at certain times of the year.In the UAE - specifically in Dubai ...
Tags: UK, Science, International, Trends, Bbc, Emirates, United Arab Emirates, Dubai, Uae, Nordic, Vanguard, University of Reading, Tech Insider, NCMS, BI General Contributors, Tech Contributors


Job Postings In The UAE Have Increased By 148% Since July 2020 Largely Driven By Dubai Expo, Finds GlobalData

The United Arab Emirates (UAE) has ramped up hiring activity across a number of different industry areas. The majority of this activity has occurred in the travel and tourism sector, largely coming from hotel chains and airline operators. Job postings have been increasing since January 2021, but has really picked up in July, finds GlobalData. According to the leading data and analytics company’s Job Analytics Database, job advertisements in the UAE have increased by 148% between July 2020...
Tags: Travel, Uae, United Arab Emirates UAE, GlobalData, Dubai Expo Finds GlobalData, Job Analytics Database


Etisalat’s second-quarter net profit rises on higher revenue

Etisalat’s second-quarter net profit rises on higher revenue Etisalat, the UAE’s biggest telecoms operator, reported a slight increase in second-quarter net profit on the back of higher revenue.The total net profit attributable to owners of the company for the three-month period ending June 30 climbed to Dh2.39 billion ($650 million) from Dh2.38bn during the same period last year, the company said in a statement on Thursday to the Abu Dhabi Securities Exchange, where its shares trade.Net profi...
Tags: Travel, Uae, Etisalat, Abu Dhabi Securities Exchange, Rupert Neil Bumfrey


United Arab Emirates: UAE Recent Amendment In Commercial Agency Law - Hassan Elhais

A noteworthy amendment in the Commercial Agency Law (Federal Law 18 of 1981) in UAE is currently the talk of the town.
Tags: News, Uae, Hassan Elhais


United Arab Emirates: Learn About Whistleblower Protection In UAE Now! - Hassan Elhais

As UAE is increasingly characterized as an economical hub, economic security is regarded as one of the most important issues in an ever-growing economic hub of the middle east.
Tags: News, United Arab Emirates, Uae, Hassan Elhais


Top Stories this AM: Mo Brooks admits he wore body armor to Trump rally; Dubai resorts to lasers for rain; Disney World brings back masks

Good morning and welcome to your weekday morning roundup of the top stories you need to know.For more daily and weekly briefings, sign up for our newsletters here.What's going on today: So that's why he was wearing a windbreaker. GOP lawmaker Mo Brooks admitted he wore body armor at Jan. 6 Trump rally and hid it by wearing a windbreaker. The Alabama rep. said he was "warned on Monday that there might be risks associated with the next few days." This is legit a plotline in "F9." A 60-yea...
Tags: London, News, Alabama, Newsletter, Trends, Gop, Dubai, Tokyo, Mayfair, Uae, Trump, Simone Biles, Disney World, Simone, Biles, Mo Brooks


Doha Bank CEO Says Reorganizing Program Boosted Results - Bloomberg video

Doha Bank CEO Says Reorganizing Program Boosted Results - Bloomberg Raghavan Seetharaman, Group CEO of Doha Bank discusses the lender's 2Q21 results and growth expectations in the UAE and Saudi markets. He speaks with Yousef Gamal El-Din and Manus Cranny on "Bloomberg Daybreak: Middle East." (Source: Bloomberg) [Author: [email protected] (Rupert Neil Bumfrey)]
Tags: Travel, Bloomberg, Uae, Doha Bank, Rupert Neil Bumfrey, Bloomberg Daybreak, Yousef Gamal El Din


#UAE Opens 10-Year ‘Golden Visa’ Scheme to All Resident Doctors - Bloomberg

UAE Opens 10-Year ‘Golden Visa’ Scheme to All Resident Doctors - Bloomberg The United Arab Emirates will allow all resident doctors to apply for so-called “golden visas,” a 10-year permit covering specialized sectors including science, innovation and health care.Doctors licensed by UAE health regulators can apply before September 2022, state-run news agency WAM reported Wednesday.The long-term visa allows foreigners to work, live and study without needing an Emirati sponsor. Expat residents ma...
Tags: Travel, Wam, United Arab Emirates, Uae, Rupert Neil Bumfrey


Spotify’s Clubhouse rival, Greenroom, tops 140K installs on iOS, 100K on Android

Spotify’s recently launched live audio app and Clubhouse rival, Spotify Greenroom, has a long road ahead of it if it wants to take on top social audio platforms like Clubhouse, Airtime, Spoon and others, not to mention those from top social networks, like Twitter and Facebook. To date, the new Greenroom app has only been downloaded a total of 141,000 times on iOS, according to data from app intelligence firm Sensor Tower. This includes downloads from its earlier iteration, Locker Room — an app S...
Tags: Social, TC, Mobile, Facebook, Apps, Spotify, Media, Social Networks, Audio, China, Social Media, Tech, App-store, Daniel Ek, Uae, Clubhouse


#UAE News: Top Banks See Profits Surge as Impairments Drop on Recovery - Bloomberg

UAE News: Top Banks See Profits Surge as Impairments Drop on Recovery - Bloomberg The three largest banks in the United Arab Emirates reported a drop in impairment charges by nearly a third in the first half as they took advantage of an economic recovery from the Covid-19 pandemic.Emirates NBD PJSC, Dubai’s biggest lender, and its counterpart in the UAE capital, First Abu Dhabi Bank PJSC, posted an increase in profit in the first half, supported by higher fee income and a drop in the cost of r...
Tags: Travel, Opec, United Arab Emirates, Uae, Emirates NBD, Rupert Neil Bumfrey, Dubai Islamic Bank, Recovery Bloomberg, First Abu Dhabi Bank, Emirates NBD PJSC Dubai, First Abu Dhabi Bank PJSC, Shayne Nelson, Impairments


#UAE's biggest lender FAB posts 19% jump in Q2 net profit | Reuters

UAE's biggest lender FAB posts 19% jump in Q2 net profit | Reuters First Abu Dhabi Bank (FAB.AD), the United Arab Emirates' biggest lender, posted on Wednesday a 19% rise in quarterly net profit, underpinned by sharp gains in its investments and derivatives and on higher fee income.FAB posted a net profit of 2.879 billion dirhams ($783.87 million) in the quarter ended June 30, up from 2.4 billion a year earlier.Arqaam Capital had forecast a net profit of 2.4 billion dirhams, while EFG Hermes h...
Tags: Travel, United Arab Emirates, Fab, Uae, Reuters, EFG Hermes, Rupert Neil Bumfrey, Arqaam Capital, Reuters First Abu Dhabi Bank


ENOC Link to offer mobile fueling station supplying biodiesel amongst other fuels

In the UAE, ENOC Link, the digital mobile fuel delivery service for businesses in the UAE by ENOC Group, announced its plans to roll out its new and world-first eLink Station across the UAE.  The eLink Station is a mobile fueling format that will enable motorists and customers easy access and convenient fueling services. It is designed to significantly enhance the fuel station network coverage for customers by reducing the time needed to deploy (12-18 months to build) as well as the reduced spac...
Tags: Biodiesel, Uae, ENOC, Fuels, ENOC Group, ENOC Link


United Arab Emirates: Monthly Insight: The UAE Speaking Coding - Loggerhead Partners

While the world is preoccupied attending to the pandemic health crisis, the UAE is busy planning its future.
Tags: News, Uae, UAE Speaking Coding Loggerhead Partners


Judge Comments On Flight Risk, Eye-Popping Size Of Bail Package At Barrack Arraignment

Longtime Trump confidante Thomas Barrack was formally arraigned on federal criminal charges in Brooklyn on Monday, appearing in court to hear the charges against him and formally approve a bond agreement. The billionaire businessman pleaded not guilty to all counts. [Author: Josh Kovensky]
Tags: News, Brooklyn, Arraignment, Uae, EDNY, Tom Barrack, Longtime Trump, Thomas Barrack, Muckraker, Josh Kovensky, Barrack Arraignment


2019 Charges Reveal More Allegations In Barrack-UAE Influence Campaign

There's more to the charges against Trump confidant Tom Barrack, a newly unsealed document reveals. [Author: Josh Kovensky]
Tags: News, Saudi, Uae, Trump, EDNY, Tom Barrack, Thomas Barrack, Muckraker, Josh Kovensky, Barrack UAE


Will NMC Healthcare founder B.R. Shetty's high-stakes $7b legal gamble in the US pay-off? | Banking – Gulf News

Will NMC Healthcare founder B.R. Shetty's high-stakes $7b legal gamble in the US pay-off? | Banking – Gulf News Dr B.R. Shetty, founded NMC Healthcare in 1974. The company was listed on the FTSE in late 2012, and in 2017 relinquished the CEO position and became non-executive chairman. Image Credit: Gulf News Archive Will Dr. B.R. Shetty win it in the US? More specifically, in a New York court of law, where he has sought damages totalling more than $7 billion against his former ...
Tags: Travel, UK, New York, India, US, Abu Dhabi, Uae, NMC, Gulf News, Shetty, Rupert Neil Bumfrey, ADCB, NMC Healthcare, UAE Exchange Centre


Gulf rebound set as #SaudiArabia, #UAE seen topping 4% growth in 2022 | Reuters

Gulf rebound set as Saudi Arabia, UAE seen topping 4% growth in 2022 | Reuters The six economies in the Gulf Cooperation Council (GCC) are set to rebound and grow 2% to nearly 3% this year while the region's two largest economies, Saudi Arabia and the UAE, are forecast to grow over 4% next year, a quarterly Reuters survey showed.That outlook follows steep declines last year following an oil price crash and the impact of the COVID-19 pandemic, while analysts expected Saudi Arabia, the UAE and K...
Tags: Travel, Saudi Arabia, Opec, Kuwait, Uae, Reuters, Gulf Cooperation Council GCC, Saudi Arabia UAE, UAE Kuwait, Rupert Neil Bumfrey, Monica Malik, Abu Dhabi Commercial Bank Medians


CB #UAE issues new anti-money laundering guidance for financial institutions | ZAWYA MENA Edition

CBUAE issues new anti-money laundering guidance for financial institutions | ZAWYA MENA Edition The Central Bank of the UAE (CBUAE) on Monday issued a new guidance on anti-money laundering and combatting the financing of terrorism (AML/CFT) for its licensed financial institutions (LFIs) on the implementation of targeted financial sanctions (TFS).The newly issued guidance is supplementary to the one on TFS for financial institutions and designated non-financial business and professions, issued ...
Tags: Travel, Uae, Central Bank, AML CFT, Executive Office, Rupert Neil Bumfrey, UAE CBUAE, CB UAE, United Nations Consolidated List, Khaled Mohamed Balama Governor of CBUAE


Lebanese Fleeing Collapse at Home Seek Security, Salaries in UAE

By Lisa Barrington and Raya JalabiDUBAI (Reuters) - Until a few months ago, 32-year-old Michelle Chaaya was a human resources professional at a...
Tags: Uae, Lisa Barrington, Raya JalabiDUBAI Reuters, Michelle Chaaya


United Arab Emirates: A Snapshot Of UAE's Economic Substance Regulations - Nexdigm Private Limited

The UAE introduced the Economic Substance Regulations (ESR) to restrict harmful tax practices, largely in line with Action Plan 5 of the BEPS Project.
Tags: News, United Arab Emirates, Uae


#Saudi telco Mobily reports 32% jump in second-quarter profit as revenue grows

Saudi telco Mobily reports 32% jump in second-quarter profit as revenue grows Saudi telecoms company Etihad Etisalat, better known as Mobily, has reported a 32 per cent increase in second-quarter profit on the back of higher revenue as the Arab world’s largest economy recovers from the coronavirus-induced slowdown.Net profit after zakat and tax for the period ending June 30 rose to 244 million Saudi riyals ($65m), the company said in a statement on Monday to the kingdom's Tadawul stock exchang...
Tags: Travel, Uae, Tadawul, Etisalat, Etihad Etisalat, Mobily, Rupert Neil Bumfrey


Celebrating Author Jabbour Douaihy (1949-2021) and Publisher Fares Sassine (1947-2021)

On July 23, within a few hours of each other, two literary friends and fellow travelers — gifted and generous Lebanese author Jabbour Douaihy and prominent Lebanese publisher Fares Sassine — died: Douaihy died after a long illness. Douaihy will be remembered not only as a gifted stylist and humorist, author of polyphonic multi-layered narratives, most particularly his insightful June Rain (translated to English by Paula Haydar), but as a kind and generous mentor, open with his ti...
Tags: Facebook, Books, News, India, Beirut, Lebanon, Uae, Alexandria, Olga, Myriam, Nizam, Jounieh, Sorbonne, IPAF, Mount Lebanon, Lebanese University


OPEC+ #Saudi-#UAE Split Won’t End Until the World Goes to Green Energy - Bloomberg

OPEC+ Saudi-UAE Split Won’t End Until the World Goes to Green Energy - Bloomberg The friction between Saudi Arabia and the United Arab Emirates that had held oil markets hostage finally ended last week, with an announcement that the Emirati quota from which production cuts are calculated will be increased. Thus ends the latest drama within the ranks of OPEC+, but the curtain did not fall before giving us a preview of how that consortium is likely to ultimately unravel. The trigger won’t be the...
Tags: Travel, Saudi Arabia, Opec, Qatar, United Arab Emirates, Uae, Gulf, Emirati, Rupert Neil Bumfrey, Green Energy Bloomberg


Mena equity fund raising more than doubles in first half

Mena equity fund raising more than doubles in first half Adnoc Distribution's issue of new shares and convertible bonds were the main driver behind a doubling of equity capital market issuance in the Middle East and North Africa in the first half of 2021, according to Refinitiv data.The amount raised on the region’s capital markets increased 138 per cent to $2.1 billion, which was a three-year high, the financial data company's Mena Investment Banking Review showed. Issuance related to Abu Dha...
Tags: Travel, Saudi Arabia, Middle East, Abu Dhabi, Uae, Mena, North Africa, Tadawul, Abu Dhabi Securities Exchange, Rupert Neil Bumfrey, Abu Dhabi National Oil Company, Adnoc Distribution, Mena Investment Banking Review


Trump ally Tom Barrack posts $250m bail on charge of illegally boosting UAE

Head of Trump’s 2017 inaugural committee must answer charge of acting as unregistered foreign agent in New York court on Monday Tom Barrack, a longtime ally of Donald Trump who chaired the former president’s inaugural committee, posted $250m bail with a $5m cash security and was released from custody in California on Friday. Related: ‘It’s chilling what is happening’: a rightwing backlash to Biden takes root in Republican states Continue reading...
Tags: New York, California, US news, US crime, Biden, Donald Trump, Uae, Trump, Tom Barrack, Donald Trump inauguration


#UAE institutional investors plan to increase exposure to cryptocurrencies, survey reveals

UAE institutional investors plan to increase exposure to cryptocurrencies, survey reveals Institutional investors and wealth managers in the UAE plan to increase their exposure to cryptocurrency assets between now and 2023, according to a new survey.Ten institutional investors, or half of those surveyed, said they plan to dramatically increase their exposure to cryptocurrency assets between now and 2023 and a further 10 said they will add the asset class to their portfolio, according to a surv...
Tags: Travel, London, Middle East, Uae, Rupert Neil Bumfrey, Nickel Digital Asset Management, Anatoly Crachilov, Nickel Digital


Afghanistan vs Pakistan ODIs shifted from UAE to Hambantota

ESPNcricinfo understands that the venues in the UAE were rendered unavailable because of the IPL
Tags: Sport, Afghanistan, Cricket, Pakistan, Uae, Hambantota


Trump inaugural chair released on $250 million bail

By Brian Melley | Associated Press LOS ANGELES — The chair of former President Donald Trump’s inaugural committee was ordered freed Friday on $250 million bail to face charges he secretly worked as an agent for the the United Arab Emirates to influence Trump’s foreign policy. Tom Barrack, 74, will be subject to electronic monitoring and largely confined to his residence after he is arraigned Monday in a New York courtroom. He was arrested Tuesday in Los Angeles near his home. Barrack is expected...
Tags: New York, New York City, Los Angeles, Qatar, Sport, Soccer, Middle East, United Arab Emirates, Associated Press, Grimes, Abu Dhabi, Donald Trump, Lebanon, Uae, Southern California, Trump