Finance World

Arab Bank Group reported net income after tax for the nine month period ended 30 September 2018 of $643 million compared to $601 million in the prior period, recording a growth of 7%. The Group’s net income before tax grew by 8% to reach $865 million with net operating income reaching $ 988 million and recording a growth of 9%.

Blueground, the hospitality-tech company that is transforming the experience of big city living, has announced that it has completed a new funding of US$12 million (approximately AED44 million) from a group of renowned global investors, including Dubai-based Jabbar Internet Group, VentureFriends, and Endeavor Catalyst. The latest investment marks the fourth and largest round of funding for Blueground, bringing the total investment from global investors in Blueground to nearly $20 million (approximately AED73.5 million).

It’s been a tough year for emerging-market (EM) investors, who have suffered poor returns on headwinds from the Federal Reserve’s tightening of monetary policy and as the rising global uncertainty from the US-China showdown on trade takes global prisoners.

SWIFT has today published a blueprint for common API standards following collaboration with European banking standards bodies, STET and Berlin Group NextGenPSD2 – who together represent many of the region’s banks and payment service providers.

While rising bond yields and falling global stocks have been grabbing the headlines, the agriculture sector has started to display green shoots of renewed demand.