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.
Warren Buffett steps down as Berkshire chairman, son Howard succeeds
Berkshire Hathaway said on Friday that Warren Buffett will step down as chairman and become chairman emeritus, effective immediately, nine months after handing the CEO reins to longtime lieutenant Greg Abel.
75,000 tourists welcomed during Dubai summer campaign
As many as 75,000 people have visited the UAE under the 'Dubai Invite' campaign, which targeted non-residents with rewards of up to AED 3,000 in hotel stays, dining deals, and more.
China's Huawei sets 2027 launch for new AI chips as it targets Nvidia
Huawei Technologies will launch two new artificial-intelligence semiconductors in 2027, rotating chairman David Wang said on Thursday, as the Chinese tech giant builds up its AI computing business and seeks to challenge USchipmaker Nvidia.
Arab Monetary Fund marks Golden Jubilee in Abu Dhabi
The Arab Monetary Fund will mark its Golden Jubilee in Abu Dhabi on September 28, alongside the 17th Ordinary Session of the Council of Arab Finance Ministers.
Aster to invest in International Modern Hospital under AED1bn UAE expansion plan
Aster DM Healthcare will invest in International Modern Hospital (IMH), under the healthcare provider's 5-year UAE expansion plans valued at more than AED1 billion.
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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!
