Dubai Islamic Bank (DIB) is all set to acquire Noor Bank after shareholders gave a nod at the General Assembly Meeting (GAM) on Wednesday.
DIB's combined assets are valuated to touch AED 275 billion on completion of the deal.
Mohammed Al Shaibani, chairman of DIB, said: “The acquisition will provide opportunities for economic growth, ensuring that the UAE’s financial sector remains at the forefront of the Islamic economy.”
The move will fully integrate Noor Bank’s operations with DIB.
UK and US agree $42 billion tech pact to mark Trump's visit
The United States and Britain have agreed on a technology pact to boost ties in AI, quantum computing and civil nuclear energy, with top US firms led by Microsoft pledging £31 billion ($42 billion) in UK investments.
New Emirates Crew Training Centre powers next-gen aviation growth
Emirates has opened a state-of-the-art flight crew training centre in Dubai, as part of the airline’s strategy to support its expanding fleet and prepare for the future of aviation.
Google pledges $6.8 billion in UK investment ahead of Trump's state visit
Google said on Tuesday it would make £5 billion ($6.80 billion) in new investments into Britain ahead of US President Donald Trump's state visit to the country, which is expected to feature a flurry of business deals and partnerships.
US, China reach framework deal on TikTok
US and Chinese officials said they have reached a framework agreement to switch short-video app TikTok to US-controlled ownership that will be confirmed in a Friday call between US President Donald Trump and Chinese President Xi Jinping.
UAE, Egypt sign $30 million deal to drill oil & gas wells in Suez Gulf
UAE-based Dragon Oil, owned by the Emirates National Oil Company, has signed an agreement worth $30 million with the Egyptian General Petroleum Corporation to drill two new oil and gas wells in the Gulf of Suez.
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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?
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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!
