ADIB launches digital forex platform for better foreign exchange rates
The digital forex platform is an extension of ADIB Direct, an integrated digital banking platform for all businesses
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Foreign investors owned Chinese bonds worth over 1.95 trillion yuan
Offshore ownership of policy bank bonds reached a record high of 536.41 billion yuan
Renewable energy investment in MENA to reach $35 bn in 2020
Currently, there are seven gigawatts of renewable energy projects in the region
Norway sovereign wealth fund disposes 60% of Saudi equities
The fund sold more than two-thirds of its Saudi equities last year on the basis of an internal bench review
Singtel, Nokia to develop and trial 5G slicing to boost cloud gaming services
5G slicing will be based on Nokia’s Network as a Service offering high-end customisable services for a range of use cases
Etihad’s logistics unit to improve services in US, Europe and Asia
In order to do so, Etihad is partnering with ECS Group, the world’s largest general sales, and support services group
Aramco receives clearance on proposed 70% acquisition of Sabic
The European Commission has granted unconditional clearance on the acquisition but is subject to remaining customary closing conditions
Dubai’s first KYC blockchain data-sharing platform goes live
The platform is launched by Mashreq Bank and Dubai International Financial Centre
Dubai Port seeks partnership with Pelindo IV to develop Ambon’s new port
Dubai Port is also interested in collaborating with Pelindo IV for the development of the Yos Sudarso Port in Ambon
UAE’s four largest banks’ profitability to remain strong in 2020
The combined net profit of the four banks increased 13 percent to Dh37 billion last year