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Emirati banks had a good 2023
The top 10 banks saw their net income surge 54.1% y-o-y
FedEx has a new air cargo hub at Dubai World Central
Plus: Tech, banking, education, retail, and startup news
Al Sharif named head of global corporate and investment banking at MUFG
Al Sharif succeeds former regional head Elyas Al Gaseer
Criteria for Emirates NBD’s AED 500 mn SME initiative are out
The first phase of the initiative will invest AED 15 mn over seven years
Earnings season continues: Emaar, Dewa, Salik, Aramex, Dana Gas, Abu Dhabi Aviation, United Arab Bank and Ras Al Khaimah Ceramics
The real estate giant’s revenues stood at AED 26.7 bn during the year, up 70% y-o-y
Stable outlook for UAE banks in 2024
The banking system in the UAE will be able to absorb regional shocks
FAB’s net income jumps 56% in 2023 + Adnoc’s Borouge sees annual bottom line dip
The bank posted double-digit growth
Positioned for growth
The banking sector will be propelled by robust credit demand in non-oil sectors and ongoing initiatives for economic diversification
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