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GCC’s rental equipment supplier expands in Asia
Dubai: Itqan Investments (Itqan) owned by Sheikh Hamad Al Sulaiman, together with Tamar VPower Energy Fund (Fund), jointly established and managed by Hong Kong-based VPower Group International Holdings Ltd. (VPower) and Citic Pacific Ltd. (Citic Pacific), has acquired Byrne Equipment Rental (Byrne Group), the most diverse supplier of rental equipment, including power rental solutions, across the Gulf Corporation Council (GCC),
 
 
Abu Dhabi’s Smart Solutions signs 14 service level agreements
ABU DHABI: Abu Dhabi’s Smart Solutions and Services Authority (ADSSSA) has signed 14 service level agreements to govern the digital data exchange process and streamline work between digital data providers and users. Aiming to further develop AD CONNECT - a comprehensive work system to enable governmental entities in Abu Dhabi to digitally exchange government documents - the agreements aim to establish a work environment that
   
Dewa completes field assessments for its 12th Conservation Award
DUBAI: The Dubai Electricity and Water Authority (Dewa) has completed the field assessments of educational institutions participating in the 12th Conservation Award, as part of its preparations to announce the winners in early May, the authority said in a statement. During the field visits, Dewa’s evaluation team reviewed the procedures applied by the educational institutions participating in three of the award’s categories: “
 
 
NBF’s Q1 net profit jumps by 15.3% to Dhs145.4m
DUBAI: National Bank of Fujairah (NBF) on Wednesday announced that it has achieved to Dhs145.4 million in net profits in Q1 2018, with 15.3 per cent increase compared to Dhs126.1 million in the corresponding period of 2017. Easa Saleh Al Gurg, NBF Deputy Chairman, said, “This reflects solid core business growth and proactive asset and liability management, the bank said in statement.” “The bank’s positive start to 2018
   
UAB’s Q1 net profit up 29 per cent at Dhs36m
SHARJAH: The United Arab Bank (UAB) has announced its financial results during the first three months of 2018. The bank reported a net profit of Dhs36 million for the first quarter of 2018 representing a 29 per cent uplift against the same period last year, primarily driven by growth in net interest income and reduction in provision charges following a transition to a lower risk business model. Commenting on the results, Sheikh
 
 
Long-term dollar, non-dollar funding discussed
Dubai: Noor Bank, one of the leading Shari’a compliant banks in the UAE, marked yet another successful outing at the 2018 Bonds, Loans & Sukuk Middle East conference, the definitive event for the financial, legal and insurance industry in the region. Joining as a gold sponsor, Noor Bank participated in the two-day event with members from the bank’s investment banking, corporate banking and treasury department leveraging the
   
Dubai Chamber workshop explores best practices
Dubai: The Dubai Chamber of Commerce and Industry recently hosted a two-day workshop at its premises which highlighted best practices in sustainability reporting and provided members of its Sustainability Network with frameworks and useful tools for preparing sustainability reports. The workshop, entitled “Roadmap to Sustainability Reporting”, was organised by the Network’s Sustainability Reporting Task Force, and featured
 
 
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