Commercial Bank International’s net profit up 29% to Dh226m

Dubai: Commercial Bank International (CBI) on Thursday reported a net profit of Dh226 million, up 29 per cent in 2018 compared to Dh175 million in 2017. The surge in profits came from a 7 per cent increase in net operating income from Dh865 million to Dh928 million and a 9 per cent decrease in expenses […]

Egypt cuts benchmark rate for first time in nearly a year

Cairo: Egypt’s central bank unexpectedly cut the benchmark deposit rate by 100 basis points Thursday, its first such move in almost a year, as inflationary pressures ease and investor inflows recover from last year’s rout in emerging markets. The Monetary Policy Committee cut the deposit rate to 15.75 per cent and brought the lending and […]

Tawazun economic council announces new economic programme framework

Dubai: Tawazun Economic Council, the UAE defence and security industry enabler, has announced a series of changes to the Tawazun Economic Programme through which foreign and local investment is channelled into key sectors of the economy. Tareq Abdul Raheem Al Hosani, Chief Executive Officer of Tawazun Economic Council, said: “We have strengthened the Tawazun Economic […]