Abu Dhabi’s ADCB, Union, Al Hilal Bank in talks to merge – Gulf Business

Abu Dhabi is exploring the potential merger of three of its banks to create a lender with around $110bn of assets.Bloomberg first cited sources as confirming discussions to combine Abu Dhabi Commercial Bank (ADCB), Union National Bank and Al Hilal Bank. If successful a deal could be announced as early as this month, the sources said, emphasising that a final decision has yet to be made. Source: Abu Dhabi’s ADCB, Union, Al Hilal Bank in talks to merge – Gulf Business

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Revealed: Top 10 banks in the UAE – Gulf Business

Things have been on the up for the GCC’s banks, which collectively recorded a better year in 2017 despite slowing economic growth in the region as a whole.Banking activity was supported by a higher oil price and continued infrastructure investment as Gulf states diversify their economies in various ways. Commercial activity in the region expanded in 2017 and consumer confidence grew, albeit slightly. As a result, our list of the region’s 50 leading banks – ranking institutions in Bahrain, Kuwait, Oman, Saudi Arabia and the UAE – recorded higher net profit in 2017. Source: Revealed: Top 10 banks in the

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UK real estate firm Savills acquires Cluttons Middle East – Gulf Business

UK-based real estate advisory firm Savills has announced its acquisition of consultancy Cluttons Middle East.Savills said the business employs 190 staff in seven cities across the UAE, Bahrain, Egypt, Oman and Saudi Arabia and provides agency, management and consultancy advice in the commercial and residential sectors. Source: UK real estate firm Savills acquires Cluttons Middle East – Gulf Business

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Emirates NBD expands operations in Saudi Arabia – Banking & Finance,Saudi Arabia – ArabianBusiness.com

Emirates NBD expands operations in Saudi Arabia Emirates NBD is the first non-Saudi bank to have a significant branch network in the country Emirates NBD has expanded operations in Saudi Arabia with the inauguration of its first branch in Jeddah and plans for two further branches in Khobar and Riyadh, the company announced on Monday. Source: Emirates NBD expands operations in Saudi Arabia – Banking & Finance,Saudi Arabia – ArabianBusiness.com

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Sheikh Abdullah inaugurates new UAE embassy in London – Gulf Business

Sheikh Abdullah bin Zayed, the UAE’s Minister of Foreign Affairs and International Cooperation, has inaugurated the country’s new embassy in London.Sheikh Abdullah and the UK’s Minister of State for International Development and Minister of State of the Middle East at the Foreign and Commonwealth Office, Alistair Burt, also unveiled a commemorative painting to mark the opening of the UAE embassy’s new headquarters. Source: Sheikh Abdullah inaugurates new UAE embassy in London – Gulf Business

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Cryptocurrencies to disrupt UAE remittance market – Khaleej Times

Nowadays, cryptocurrencies such as Bitcoin and Ethereum are making a huge noise worldwide because of their potential to decentralise money issuing and the financial services. This concept comes from the fact that cryptocurrencies are based on blockchain technology. To explain this fast and clearly, let’s say that there are thousands of computers (nodes) around the world that have a database with all the information of cryptocurrencies issued and the transactions made; this database is updated in real time i Source: Cryptocurrencies to disrupt UAE remittance market – Khaleej Times

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