Tuesday , 18 September 2018
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UAE stocks gain $2bln following potential bank merger reports

Abu Dhabi’s ADCB, Union National Bank, Al Hilal Bank in talks to merge The UAE stock exchanges gained AED7.5 billion in market cap Tuesday following reports purporting initial negotiations on potential mergers between Abu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank. The shares of the ADX-listed ADCB and Union National Bank therefore closed high at AED8.00 and …

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Mideast spearheading $2.6trn smart cities market

Cities are the nexus for the IoT, with global connected things set to nearly double from 11 billion in 2018 to 20 billion by 2020, according to Gartner. By Staff Writer, TradeArabia DUBAI – The countries in the Middle East and North Africa (Mena) region, especially with initiatives from across the GCC, are spearheading the global smart cities market, which …

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$700 commercial licence launched in UAE

Invites entrepreneurs to raise funds and later list those startups on the financial exchange The Abu Dhabi Global Market (ADGM) on Saturday launched a commercial licence for technology startups at a nominal cost of Dh2,570, inviting entrepreneurs to raise funds and later list those startups on the financial exchange. The financial centre said in a statement that the new licence …

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UAE businesses opt for flexible workplaces

UAE business leaders and risk managers are adopting flexible real estate strategies to grow their company and mitigate against risk UAE business leaders and risk managers are adopting flexible real estate strategies to grow their company and mitigate against risk, according to a new study by International Workplace Group (IWG), the parent group of workspace companies including Regus. The UAE …

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Abu Dhabi, Kuwait among world’s top 3 for sovereign liquid assets

Abu Dhabi and Kuwait governments hold liquid assets which are more than 100% of their GDP Abu Dhabi and Kuwait governments hold liquid assets which are more than 100 per cent of their GDP, which positively effects the ratings of the countries and help them combat effects of economic cycles. According to global ratings agency S&P forecast, Kuwait, Norway and …

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Egypt mulls construction of $2.33bln wind farms

The anticipated projects will be implemented under the BOO scheme Cairo: The Egyptian electricity ministry is in talks with a number of international companies to execute wind power projects with capacities of up to 1,800 megawatts at a cost of around EUR 2 billion. The anticipated projects will be implemented under the Build, Own and Operate (BOO) scheme, Almal News …

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A.I. on the way: Business leaders plan to integrate robotic and artificial intelligence tech within 2 years

By Staff Writer, ZAWYA International business executives plan to invest in and integrate robotic technologies and artificial intelligence (AI) in their retail business in the coming two years, a survey by KPMG has shown. KPMG’s Global Consumer Executive Top of Mind Survey found that “41 percent of digital leaders are using robotic process automation and 46 percent plan to start …

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Qatar’s Barwa Bank, International Bank of Qatar agree to merge

The unlisted banks will work to complete the necessary steps for the merger, including obtaining regulatory approval, before the end of the year Qatari lenders Barwa Bank and the International Bank of Qatar (IQB) have reached a final merger agreement, creating a combined group with total assets of 80 billion riyals ($22 billion), the banks said on Tuesday. The unlisted …

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Saudi sovereign fund PIF raises $11bln loan-source

Saudi Arabia’s sovereign wealth fund has raised an $11 billion loan from banks, a source with direct knowledge of the matter said, as it seeks to boost its firepower to finance the kingdom’s economic transformation plans. News of the loan, which was increased from an initial guide size of $6 billion to $8 billion given by sources close to the …

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Mideast firms ramping up investments with an AI on the future

Survey shows 95% believe that AI will have a positive impact on their firm Middle East entities, especially in the UAE and Saudi Arabia, are increasingly streamlining their strategies with artificial intelligence as they see its advantages, which would allow them to keep in step with each other and better respond to the changing needs of their customers, among other …

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