Abu Dhabi Commercial Bank has reported a net profit of AED 1.152 billion for the first quarter of the year.
It's a drop of five per cent from the same period in 2018, with the results affected by a higher cost of funds.
Total assets grew by four per cent to AED 292 billion, while deposits from customers also increased by four per cent, reaching AED 184 billion.
The results come before the company's merger with Union National Bank and the subsequent acquisition of Al Hilal Bank.
Weaponising Strait of Hormuz is an act of economic terrorism: Sultan Al Jaber
Weaponising the Strait of Hormuz is an act of economic terrorism with global impact far beyond energy markets, asserted Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, while addressing CERAWeek in Houston, Texas.
IEA consulting with governments on further oil stock releases, chief Birol says
The International Energy Agency is consulting with governments in Asia and Europe on the release of more stockpiled oil "if necessary" due to the Iran war, Executive Director Fatih Birol said on Monday.
Dollar rises as escalating Middle East tensions spur haven demand
The dollar rose on Monday as escalating retaliatory threats in the Middle East conflict curbed risk appetite and lifted demand for safe-haven assets.
Business leaders highlight Dubai’s resilience amid global developments
Chairpersons of several country business councils operating under the Dubai Chamber of Commerce say the emirate is reinforcing its global reputation for resilience and agility amid global challenges.
India to withdraw temporary domestic airfare caps from Monday
India will revoke the temporary fare caps it had imposed on domestic air tickets from Monday, the country's civil aviation ministry said on Saturday.
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UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
Apple Inc. shares fell Monday after a closely followed analyst warned that demand for the firm’s new iPhone 16 Pro model has been lower than expected. Is this a sign that the AI software just isn’t ready?
Does working from home kill productivity or can it benefit staff by giving them more flexibility and a better work/life balance?
Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?
Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!
