Tuesday , 23 January 2018

Tag Archives: Finance

UAE economic growth to stay resilient

Non-oil growth in the UAE will remain resilient in 2017 while in the medium term, while economic activity will strengthen on the back of firmer oil prices and a rebound in global trade, the World Bank said on Thursday. While an Opec-mandated oil production cut restricts oil growth, firmer oil prices, a rebound in global trade and easing of fiscal …

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Egypt: The Economy Is Gathering Strength

Egypt launched a reform program when its economy faced rising imbalances that led to high public debt, a widening current account deficit, and declining official reserves. “The Egyptian authorities have embarked on an ambitious reform program and have taken decisive measures aimed at restoring macroeconomic stability and sustainable public finances. At the same time, by strengthening social protection measures, they …

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Exponential growth seen in GCC assets under management

Dubai is set to reinforce its status as the region’s leading financial hub with new legislation and regulation expected to attract inward investment as the GCC is forecast to see an exponential growth in assets under management to nearly $111 billion by 2020, a new study reveals. While fund managers in the UAE are expected to see their asset under …

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EIB conference in Egypt calls for private sector to lead new push for investments in the Mediterranean region

The EU bank provided finance of EUR 1070.6 million in 2016 to support private sector development in the southern Mediterranean region. The drive for jobs and growth in the Mediterranean region should be led by the private sector. This was the call today, as the European Investment Bank (EIB) held an international conference in Cairo dedicated to “Boosting investments in …

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Nineteen UAE listed banks posted $5.17bln in H1 net profit

A total of 19 listed banks reported H1 net profit of around AED19 billion, a 3.8 percent growth from around AED18.3 billion during the corresponding period last year. Matching previous expectations, the gains reflect the banking sector’s resilience and ability to cope with the fast-paced, multifaceted developments witnessed by the national economy which in its turn has maintained decent growth …

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Mideast deal activity picks up in Q2 2017

Despite a backdrop of continued political turbulence, cross-border dealmaking held steady globally in Q2 2017, with the Middle East seeing a substantial uptick in deal activity, according to Baker McKenzie’s Cross-Border M&A Index. Middle East cross-border deal-making picked up in Q2 2017, with the Middle East Index increasing to 201.5, withstanding the continuing political and economic uncertainty in the region …

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Soft-landed UAE economy poised for a convincing comeback

Dubai: The UAE’s economic growth which faced strong headwinds following prolonged low oil prices and slump in international trade has managed a soft landing, with a less pronounced cycle than in 2008 according to According to Bank of America Merrill Lynch. Analysts expect a convincing a turnaround from 2018, according to recent economic forecasts. “We expect non-oil real GDP growth …

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Middle East millennials work harder, driven by desire to make positive impact: Study

Millennial business owners in the Middle East are more likely to be driven by the desire to increase their influence and have a positive impact on others than the overall average for entrepreneurs globally, according to a new study by HSBC Private Bank. The bank’s second Essence of Enterprise report, launched recently, researched the views of over 4,000 entrepreneurs globally …

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Cloud migration can help finance reap rewards

Cloud-based finance technology is an attractive proposition for forward-looking finance leaders looking to increase business performance, optimize operational efficiency and keep up with regulatory changes. Furthermore, moving finance to the cloud will help truly transform it into a strategic function. A tipping point for finance Amid the digitisation of the economy, the finance function is at a tipping point. Today’s …

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UAE ranked 1st in MENA region and 35th worldwide in Global Innovation Index 2017

The UAE has improved its standing in the 2017 Global Innovation Index, GII, topping all Arab countries and ranking 35th globally to improve six places from last year’s 41st position cementing its status as one of the world’s most innovative countries. The results of the index were officially announced during a press conference held on 15th June at the UN …

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