/tags/first-abu-dhabi-bank en /node/2425051/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/rbitem-author/arab-news">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2023-12-13 13:32</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: The UAE has agreed to initiate negotiations with Australia to establish a comprehensive economic partnership agreement, according to its foreign trade minister. </p> <p> Thani bin Ahmed Al-Zeyoudi announced in a statement on X, formerly known as Twitter, that the country is poised to enhance its global trade network by strengthening its ties with Australia. </p> <p> This development is part of the strategic expansion of the UAE’s comprehensive economic partnership program. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2023/12/13/4137586-595283555.jpg" width="1000" height="569" alt="" title="UAE’s Foreign Trade Minister Thani bin Ahmed Al-Zeyoudi announced in a statement on X that the country is poised to enhance its global trade network by strengthening its ties with Australia. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/uae">UAE</a></div><div class="field-item odd"><a href="/tags/australia">Australia</a></div><div class="field-item even"><a href="/tags/thani-bin-ahmed-al-zeyoudi">Thani bin Ahmed Al-Zeyoudi</a></div><div class="field-item odd"><a href="/tags/comprehensive-economic-partnership-agreement">Comprehensive Economic Partnership Agreement</a></div><div class="field-item even"><a href="/tags/central-bank-iraq">Central Bank of Iraq</a></div><div class="field-item odd"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div></div></div> Wed, 13 Dec 2023 10:41:06 +0000 shafquat.ali 2425051 at /node/2377971/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/rbitem-author/arab-news">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2023-09-21 14:23</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ������Ƶ’s economy is poised to benefit from the increasing number of working women as the Kingdom’s Vision 2030 initiative, aimed at enhancing female employment, has begun to demonstrate its potential economic impact, as outlined in a recent report by S&amp;P Global. </p> <p> The study showed significant progress in expanding the female workforce in ������Ƶ, reaching 36 percent of the total human capital in 2022, up from 19 percent in 2016, surpassing Vision 2030’s target of 30 percent by the end of the decade. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2023/09/21/4013616-1829621168.jpg" width="670" height="395" alt="" title="This growth in the participation of women in the labor market can be attributed to various factors, including improved access to education, declining fertility rates, and a more inclusive cultural environment. Photo/Supplied" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/saudi-women">Saudi women</a></div><div class="field-item odd"><a href="/tags/saudi-women-workforce">Saudi women workforce</a></div><div class="field-item even"><a href="/tags/sp-global-ratings">S&amp;P Global Ratings</a></div><div class="field-item odd"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div></div></div> Thu, 21 Sep 2023 11:29:28 +0000 shafquat.ali 2377971 at /node/2293951/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/rbitem-author/arab-news">Arab News</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2023-04-27 18:03</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Abu Dhabi Islamic Bank announced a 54 percent increase in net profit to 1.1 billion dirhams ($300 million) in the first quarter of 2022 compared to 715 million dirhams in the same period of last year, driven by solid business growth and greater margins.</p> <p> The bank’s revenues booked a 45 percent rise in the first three months of 2023 to 2 billion dirhams compared to 1.4 billion dirhams in the year-ago period.  </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2023/04/27/3791846-1741842345.jpg" width="1000" height="637" alt="" title="The UAE economy saw a good start in 2023 supported by higher oil prices and continuation of the diversification strategy." /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/abu-dhabi-islamic-bank">Abu Dhabi Islamic Bank</a></div><div class="field-item odd"><a href="/tags/emirates-nbd">Emirates NBD</a></div><div class="field-item even"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div><div class="field-item odd"><a href="/tags/dp-world">DP World</a></div></div></div> Thu, 27 Apr 2023 15:08:17 +0000 nirmal.menon 2293951 at /node/2239431/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/rbitem-author/arab-news">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2023-01-26 13:46</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: UAE banks’ investments exceeded 511 billion dirhams ($139 billion) at the end of November 2022, the highest level in 13 months, according to the <a href="/tags/uae-central-bank">Central Bank of the UAE.</a> </p> <p> The CBUAE’s statistics also showed an annual increase of 7.7 percent, equivalent to 36.6 billion dirhams, reaching a total of 511 billion dirhams at the end of November, compared to 474.5 billion dirhams in November 2021.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2023/01/26/3647446-1401059225.png" width="613" height="333" alt="" title="The National Bank of Fujairah posted year-on-year growth of 195.3 percent (NBF.ae)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/uae-focus-0">UAE-In-Focus</a></div><div class="field-item odd"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div><div class="field-item even"><a href="/tags/central-bank-uae">Central Bank of the UAE</a></div></div></div> Thu, 26 Jan 2023 10:55:28 +0000 owen.bennett 2239431 at /node/2131276/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/121086">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2022-07-28 12:23</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: First Abu Dhabi Bank, UAE’s largest lender, has reported a strong year-over-year rise in net profit for the first half of the year, supported by favorable regional conditions despite global market volatility.</p> <p> The Abu Dhabi-listed bank’s profit surged 50 percent compared to the same period last year, reaching 8 billion dirhams ($2.17 billion), it said in a statement.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2022/07/28/3358591-123901286.jpg" width="1000" height="667" alt="" title="Earnings per share rose 52 percent year-over-year to 1.43 dirhams (Shutterstock)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div></div></div> Thu, 28 Jul 2022 09:30:27 +0000 owen.bennett 2131276 at /node/2101826/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/121086">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2022-06-12 14:53</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: First Abu Dhabi Bank has announced the completion of a legal merger with Bank Audi Egypt to operate as a single legal entity under the new name, First Abu Dhabi Bank Egypt.</p> <p> ُThe full integration of the bank’s operations and systems will be completed by the last quarter of 2022, Al-Arabiya reported citing a statement. </p> <p> With the completion of the merger, FAB Egypt will now be operating in the Egyptian market with assets valued at 185 billion Egyptian pounds ($9.8 billion) as of March 31, according to the Al-Arabiya report.  </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2022/06/12/3280526-1696929324.jpg" width="1000" height="667" alt="" title="It will operate as a single legal entity under the new name, First Abu Dhabi Bank Egypt. (Shutterstock)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div><div class="field-item odd"><a href="/tags/merger">merger</a></div><div class="field-item even"><a href="/tags/egypt">Egypt</a></div><div class="field-item odd"><a href="/tags/bank-audi">Bank Audi</a></div></div></div> Sun, 12 Jun 2022 12:04:43 +0000 nirmal.menon 2101826 at /node/2084591/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/121086">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2022-05-18 12:47</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> DUBAI: A rise in inflation across the world is not being driven by traditional factors, but due to political reasons, said Simon Ballard, chief economist at the First Abu Dhabi Bank, during the ongoing Top CEO forum in Dubai. </p> <p> According to Ballard, some of the factors that contribute to inflation are the ongoing tensions between Ukraine and Russia, supply chain disruptions and lockdown in China due to the Covid-19 pandemic.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2022/05/18/3234841-713732053.jpeg" width="1009" height="654" alt="" title="A rise in inflation across the world is not being driven by traditional factors, but due to political reasons, said Simon Ballard, chief economist at the First Abu Dhabi Bank. (AN Photo)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/topceo2022">TOPCEO2022</a></div><div class="field-item odd"><a href="/tags/topceo22">TOPCEO22</a></div><div class="field-item even"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div><div class="field-item odd"><a href="/tags/inflation">Inflation</a></div><div class="field-item even"><a href="/tags/economy">economy</a></div></div></div> <span class="label abs-el uppercase special"> Special </span> Wed, 18 May 2022 10:03:20 +0000 nirmal.menon 2084591 at /node/2052056/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/121086">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2022-03-28 14:22</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: UAE lender First Abu Dhabi Bank has set the wheels in motion for the purchase of a 51 percent stake in Egypt’s Investment bank EFG Hermes, which could be its biggest acquisition in Egypt.</p> <p> The bank. also known as FAB, offered $1.20 per share, valuing EFG Hermes at $1.2 billion, it said in a press release.</p> <p> It has also submitted an official request to Egypt’s Financial Supervisory Authority to obtain its approval to start a due diligence examination for the deal</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2022/03/28/3146481-1208495852.jpg" width="1000" height="667" alt="" title="First Abu Dhabi Bank expanded into Egypt last year (Shutterstock)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div><div class="field-item odd"><a href="/tags/efg-hermes">EFG Hermes</a></div></div></div> Mon, 28 Mar 2022 11:28:26 +0000 owen.bennett 2052056 at /node/2033231/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/121086">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2022-02-28 13:52</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> Brookfield Asset Management Inc. has signed an agreement to buy a 60 percent stake of First Abu Dhabi Bank's Magnati Payments, according to a Bloomberg report. </p> <p> The remaining 40 percent will be retained by the bank, which turned Magnati Payment Solutions into a fully-owned subsidiary in April.</p> <p> The new agreement is expected to add to a flurry of dealmaking in the payments industry, as several banks are offloading payment operations due to tough competition from specialist providers. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2022/02/28/3094711-517883493.png" width="761" height="372" alt="" title="(magnati.com)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div><div class="field-item odd"><a href="/tags/magnati-payments%C2%A0">Magnati Payments </a></div><div class="field-item even"><a href="/tags/brookfield">Brookfield</a></div></div></div> Mon, 28 Feb 2022 10:58:27 +0000 owen.bennett 2033231 at /node/2029686/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/121086">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2022-02-22 15:30</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> Brookfield Asset Management is negotiating with First Abu Dhabi Bank to buy its payment arm, according to Bloomberg. </p> <p> According to the report, which cited confidential sources wishing to stay anonymous, Brookfield is the frontrunner to buy Magnati Payment Solutions. </p> <p> The report further noted that Brookfield has valued Magnati at more than $1 billion. </p> <p> FAB turned Magnati Payment Solutions into a fully-owned subsidiary in April.</p> <p> Since then, the bank has been working together with Morgan Stanley to identify suitors for the business. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2022/02/22/3084276-2126965937.jpg" width="1000" height="667" alt="" title="Image: Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/economy-1">economy</a></div><div class="field-item odd"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div></div></div> Tue, 22 Feb 2022 12:38:10 +0000 shaiahmed 2029686 at /node/2028916/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/121086">Arab News</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2022-02-21 13:20</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Egypt's EFG Hermes has appointed Goldman Sachs as financial adviser on First Abu Dhabi Bank's offer to acquire a majority stake.</p> <p> The Cairo-based bank board has also given the UAE's biggest lender the authority to conduct due diligence, according to a bourse filing.</p> <p> An independent financial adviser was also appointed to determine First Abu Dhabi Bank's fair value in the event the bank submitted a compulsory purchase offer, so shareholders' interests would be protected and clarified, CNBC Arabia reported. </p> </div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2022/02/21/3082246-56448414.png" width="1211" height="1203" alt="" title="EFG Hermes" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/economy-1">economy</a></div><div class="field-item odd"><a href="/tags/egypt">Egypt</a></div><div class="field-item even"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div></div></div> Mon, 21 Feb 2022 10:24:21 +0000 shaiahmed 2028916 at /node/2021231/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/225841">Reuters</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Wed, 2022-02-09 11:14</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> First Abu Dhabi Bank, the UAE's biggest lender, is in talks to buy Egyptian bank EFG Hermes, which has a market value of over $970 million, two sources with knowledge of the matter said.</p> <p> <br /> Rothschild is advising FAB on the deal, the sources said , which would be its second major transaction in Egypt after it bought the Egyptian business of Lebanon’s Bank Audi last year.</p> <p> <br /> FAB did not immediately respond to a Reuters request for comment.</p> </div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2022/02/09/3061221-111738898.jpg" width="1000" height="667" alt="" title="(Shutterstock)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div><div class="field-item odd"><a href="/tags/efg-hermes">EFG Hermes</a></div></div></div> Wed, 09 Feb 2022 08:18:02 +0000 owen.bennett 2021231 at /node/1961521/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/taxonomy/term/121086">Arab News</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2021-11-04 12:00</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: The Abu Dhabi Securities Exchange (ADX) has launched a derivatives market to increase liquidity and bring its products and services in line with global peers.</p> <p> In a statement by ADX, trading in the single equity futures of blue chips including, Etisalat, First Abu Dhabi Bank (FAB), International Holding Company (IHC), ADNOC Distribution and Aldar Properties commenced on Thursday, with more securities to be added later this year 2021 and in 2022, Abu Dhabi Media Office said.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2021/11/04/2897036-1881184922.jpg" width="1024" height="673" alt="" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/economy-1">economy</a></div><div class="field-item odd"><a href="/tags/abu-dhabi">Abu Dhabi</a></div><div class="field-item even"><a href="/tags/abu-dhabi-securities-exchange">Abu Dhabi Securities Exchange</a></div><div class="field-item odd"><a href="/tags/derivatives">#derivatives</a></div><div class="field-item even"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div><div class="field-item odd"><a href="/tags/adnoc-distribution">ADNOC Distribution</a></div><div class="field-item even"><a href="/tags/aldar-properties">Aldar Properties</a></div><div class="field-item odd"><a href="/tags/abu-dhabi-stock-exchange">abu dhabi stock exchange</a></div></div></div> Thu, 04 Nov 2021 09:40:22 +0000 shaiahmed 1961521 at /node/1847221/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/rbitem-author/mohammed-abu-zaid">Mohammed Abu Zaid</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2021-04-22 20:39</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> CAIRO: First Abu Dhabi Bank has gained legal and regulatory approval to complete the acquisition of a 100 percent stake in Bank Audi Egypt, a subsidiary of the Lebanese Bank Audi Group, the bank announced on Thursday.</p> <p> In a statement, the bank said that after the completion of the share transfer process, First Abu Dhabi Bank will begin merging the assets and operations of Bank Audi Egypt and First Abu Dhabi Bank — Egypt, with the merger process expected to be completed in 2022.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2021/04/22/2586761-2062611614.jpg" width="670" height="503" alt="First Abu Dhabi Bank has gained legal and regulatory approval to complete the acquisition of a 100 percent stake in Bank Audi Egypt. (Reuters/File Photo)" title="First Abu Dhabi Bank has gained legal and regulatory approval to complete the acquisition of a 100 percent stake in Bank Audi Egypt. (Reuters/File Photo)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/business">business</a></div><div class="field-item odd"><a href="/tags/economy-1">economy</a></div><div class="field-item even"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div><div class="field-item odd"><a href="/tags/bank-audi-egypt">Bank Audi Egypt</a></div></div></div> Thu, 22 Apr 2021 17:41:28 +0000 daniel.fountain 1847221 at /node/1796356/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/rbitem-author/mohammed-abu-zaid">Mohammed Abu Zaid</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2021-01-21 21:43</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> CAIRO: First Abu Dhabi Bank and Bank Audi Lebanon have announced the signing of a final agreement to acquire 100 percent of Bank Audi Egypt’s capital.</p> <p> The two banks said in a joint statement that the acquisition agreement came after the completion of an in-depth data-checking process and due diligence examination by First Abu Dhabi Bank.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2021/01/21/2438536-2071990872.jpg" width="800" height="600" alt="" title="First Abu Dhabi Bank and Bank Audi Lebanon have acquired 100 percent of Bank Audi Egypt’s capital. (Reuters)" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/first-abu-dhabi-bank">First Abu Dhabi Bank</a></div><div class="field-item odd"><a href="/tags/bank-audi-lebanon">Bank Audi Lebanon</a></div><div class="field-item even"><a href="/tags/bank-audi-egypt">Bank Audi Egypt</a></div></div></div> <span class="label abs-el uppercase special"> Special </span> Thu, 21 Jan 2021 18:56:23 +0000 seamus.obuachalla 1796356 at