Category Archives: Business & Investments

Standard Chartered Bank reportsits highest half-yearly operating profit….

Standard Chartered Bank reportsits highest half-yearly operating profit for five years in the Africa, Middle East region.

3 August 2021, Dubai – Standard Chartered PLC (the Group) today releases its financial results for the half year ending 30 June 2021. Profit before tax grew 37 per cent year on year, helped by improved loan impairments, strong underlying business momentum and good progress across the Bank’s strategic priorities. The Bank further announced an additional share buy-back programme together with the resumption of the interim dividend payment.

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UAE’s Financial Wealth Grows to $600Billion Despite Challenges from the Pandemic

UAE’s Financial Wealth Grows to $600Billion Despite Challenges from the Pandemic

51% of the country’s wealth is owned by individuals whose net worth is more than $5 million

Dubai,UAEAugust 3, 2021— The United Arab Emirates (UAE) financial wealth grew by a Compound Annual Growth Rate (CAGR) of 3% from 2015 to reach a high of $600 billion in 2020 – 69% of which is investable wealth – as the UAE showed resilience in the face of the protracted COVID-19 pandemic, according to a new report by Boston Consulting Group (BCG).

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More than half of millennial and Gen Z Muslims would adopt Islamic banking if it were more accessible

More than half of millennial and Gen Z Muslims would adopt Islamic banking if it were more accessible

  • According to a new report by Mambu, social responsibility and ethical practices among top priorities for next generation of Islamic banking customers but a lack of digital services is holding the industry back
  • 47% of UAE respondents and 18% from Egypt said they use Islamic banking
  • 16% of UAE respondents said they are considering Islamic banking while this figure was higher in Egypt with 24% looking for options
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Swisslog appoints David Dronfield as the new General Manager for Middle East

Swisslog appoints David Dronfield as the new General Manager for Middle East

In response to the growing interest in robotic automation throughout the region, David will be responsible to secure new business, manage technology and service support for Swisslog’s customer base

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Mitsumi Appoints New President to run its Distribution Business

Mitsumi Appoints New President to run its Distribution Business

  • Mathew Thomas joins the firm fromHP
  • Distributor also expands its team strength

UAE –August 3, 2021: Mitsumi Distribution, a leading IT distributor today announced the appointment of Mathew Thomas as President,to help accelerate the company’s next stage of growth.

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