FEATURES

Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has launched a second tranche of the popular Equity Basket Note 3 investment note linked to a basket of global blue-chip stocks. The Shariah-compliant note matures in 12 months and provides 100% protection at maturity to minimize investment risk. The note is currently open for subscription until 23 April, 2017 with a minimum investment of US$30,000. The product provides investors with the opportunity to invest in a basket of international companies, including Allergan, Cerner, KDDI, Merck & Co, Koninklijke Philips. Maturity date for the note is April 4, 2018.

Abu Dhabi Media, ADM, has announced the official launch of "Radio 1" and "Radio 2" stations, part of the Abu Dhabi Radio Network, bringing the total number of stations under its umbrella to eight. The new launch, which brings ADM’s number of brands up to 27, underscores the corporation’s plans to expand its English-language radio stations. The official launch of the two radio stations follows Abu Dhabi Radio Network’s comprehensive development for both stations to ensure that they broadcast exceptional content that appeals directly to audience interests. This approach is aligned with Abu Dhabi Media’s commitment to offering targeted and diverse media content that resonates with the organisation’s broad audience base.

Abu Dhabi National Exhibition Centre (ADNEC) hosted the gathering of the Elite Council, a community initiative launched by Abu Dhabi Health Services Company (SEHA) to implement mechanisms for sharing knowledge and experience towards achieving organisational excellence.

Shareholders of Abu Dhabi Islamic Bank, ADIB, have approved the distribution of 24.52 percent cash dividends for 2016 at the bank’s Annual General Meeting held on 2nd April. The cash dividend represents 39.8 percent of full-year net profits for 2016 and is equivalent to AED780 million. Khamis Buharoon, Vice Chairman of ADIB, presented the bank’s "Board of Directors’ Report" on behalf of ADIB’s Chairman Jawaan Awaidha Suhail Al Khaili, saying, "ADIB delivered strong results in a challenging operating environment in 2016. Strategic investments in areas that will support the bank’s future growth, including enhancing customer experience and advancing our digital capabilities, led to the bank welcoming 42,000 new customers in the year, bringing the total to over 920,000. This contributed to robust growth in revenues and, coupled with strong expense discipline, resulted in an increase in profits."

Abu Dhabi Securities Exchange, ADX, announced today that it has succeeded in achieving a compliance rate of 100 percent regarding the disclosure of the annual financial statements of its listed public joint stock companies within the deadline of 90 days from the end of the fiscal period. All public, and private, listed companies listed on ADX disclosed their annual financial statements for 2016 within the 90 days period given.

Etisalat’s unique all-in-one ‘Business in a Box’ solution enables Small and Medium Businesses (SMBs) to focus on their core business by helping them innovate, diversify, cut costs and create tools that are right for the business. Today SMBs are disrupting entire industries by introducing new business models or transforming their own. These businesses are raising the bar on customer experience by reinventing product and service delivery. According to ‘The Economist Intelligence Unit (EIU) study, 71 percent of IT leaders from small and midsize businesses rank digital initiatives highest or relatively high in priority.

Patchi pioneered a collaboration with the Abu Dhabi government in celebration of its Golden Jubilee by introducing a unique and exclusive range of chocolates covered in gold. In honor of the collaboration, Patchi held an exclusive event at its Khalidiya Boutique recently, attended by key representatives from the Abu Dhabi government and executive management from Patchi. “Patchi extends its sincere congratulations to the Government of Abu Dhabi on the occasion of its Golden Jubilee,” said Mr. Oussama Choucair, Chief Executive Officer, Patchi UAE. “We are proud to be participating in the celebrations with the launch of the special and exclusive flavors on this occasion. Our collaboration is in line the Abu Dhabi Government objectives to strengthen relationships between the public and private sectors.”

Aldar Properties, Abu Dhabi's leading listed property development, investment and management company, has awarded its main contract for Mayan, a luxury residential development located on Yas Island, to Ghantoot General Construction, one of the leading construction companies in the region.

The UAE is well-placed to tackle future challenges thanks to the strong foundations laid down by the country’s visionary leaders and the culture of innovation they have fostered, Mohammad Abdulla Al Gergawi, UAE Minister of Cabinet Affairs and the Future, told delegates on day three of the Global Manufacturing and Industrialisation Summit in Abu Dhabi. 

Total volume of personal loans in the UAE increased to AED 349.9 billion in February 2017, according to a UAE Central Bank report issued on Tuesday, which affirmed the banks’ continual contribution to the overall wellbeing and growth of the economy. By providing personal and corporate finance facilities, as well as creation of jobs, the UAE banks continue to play a dynamic role in establishing a robust economic development process through the mobilisation of financial resources, ensuring the required financing for the support of the national economy and creating the required investments, the report added.