Credit facilities provided by the UAE national banks to the business and industrial sectors amounted to AED25.7 billion during the first five months of 2024, according to the latest figures released by the Central Bank of the United Arab Emirates (CBUAE).
Tag: Economy
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ADNOC Distribution reports net profit of $170 million in Q2 2024
ADNOC Distribution today announced its financial results for the second quarter of 2024. The Company reported a 15.0% YoY increase to $267 million in Q2 2024 EBITDA, and a 12.9% YoY rise in net profit to $170 million.
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Etihad Airways reports 48% increase in profits to AED851 million in H1-24
Etihad Airways today announced its H1 2024 results, recording a 48 percent increase in profit after tax achieving AED851 million (US$232 million), a significant increase from AED575 million (US$157 million) in H1 2023.
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Thani bin Ahmed Al Zeyoudi appointed as Chairman of Rorix Holdings
International Holding Company (IHC) has announced the appointment of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, as Executive Chairman of Rorix Holdings.
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DIFC, Ripple to accelerate adoption of Blockchain technology
Ripple, a specialised enterprise in blockchain and crypto solutions, has announced plans to partner with DIFC Innovation Hub, the thriving innovation ecosystem of the Dubai International Financial Centre (DIFC) to accelerate blockchain and digital asset innovation in the UAE.
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Dubai Chamber of Digital Economy promotes Expand North Star to 1,500 startups
Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, and Dubai World Trade Centre have successfully concluded its series of 12 international roadshows to promote Expand North Star, the world’s largest event for startups and investors
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UAE Lottery games to operate within the GCGRA’s regulatory framework including enhanced consumer protection and oversight
The General Commercial Gaming Regulatory Authority (GCGRA), the federal entity overseeing commercial gaming activities in the United Arab Emirates, announced today the award of a license to operate the UAE’s first authorised lottery operation.
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CBUAE’s gold reserves see 12.6% YoY growth by end of March 2024
The value of gold reserves of the Central Bank of the UAE (CBUAE) reached AED19.615 billion by the end of March 2024, marking a year-on-year (YoY) growth of 12.6 percent from AED17.41 billion in March 2023.
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Bayanat, IMKAN to develop smart mobility infrastructure project on ‘SHA Island Emirates’
Bayanat and IMKAN Properties today signed a Memorandum of Understanding for the development of a smart mobility infrastructure project on SHA Island Emirates at AlJurf.