Finance World

Awad Capital, the independent, Dubai-based, DFSA regulated financial services firm, has announced the successful closure of its recent capital raising, totaling $2.1 million. The capital will be used to fuel the growth of the company.

The rapid development of Indonesia's fintech industry, especially in the online lending sector, has brought about with it some fresh air, especially for the people in Micro, Small and Medium Enterprises (MSMEs). With the presence of online lending fintech, the MSME sector can continue to grow.

The US dollar, which has been strengthening every day since the dovish shift by the Federal Open Market Committee on January 30, only added to the market’s unease.

United Arab Bank P.J.S.C ("UAB" or “the Bank”) reports its Financial Results for the Twelve Months to 31st December 2018.

UAB reported a Net Profit of AED77m in 2018 which represents an increase of 345% compared to 2017 as the successful execution of its Transformation Strategy paved the way for a return to sustainable profitability.  UAB embarked on its journey to become a safer, stronger and sustainable Bank. Central to this Transformation Strategy were four key pillars: pro-actively deleverage higher risk non-core portfolios; reduce costs; enhance the Bank’s risk and control frameworks; and strengthen key banking fundamentals.

The year 2019 has started on a strong note after a challenging fourth quarter of 2018. The sentiments were boosted by corporate earnings, optimism over US-China trade talks and the formal pause of interest rate hikes by the Fed, which led to a positive close in the month of January across the global markets. Further, oil prices also witnessed a strong rebound as Brent surged by 16.6% during the month.