Latest news with #EmiratesNBD
Zawya
43 minutes ago
- Business
- Zawya
Mideast Stocks: Most Gulf bourses trade lower as tariff tensions continue to weigh
Most stock markets in the Gulf were trading lower early on Monday as U.S.-China trade tensions continue to weigh on sentiment, with U.S. President Donald Trump accusing China of violating a bilateral deal on tariff roll back. Investor sentiment rattled on Trump's plans on doubling worldwide steel and aluminium tariffs to 50%, adding to the unpredictability of global trade tensions. The heightened tariffs are set to go into effect this week. S&P 500 futures eased 0.5% and Nasdaq futures lost 0.6%. Meanwhile, oil prices rebounded by more than $1 a barrel after OPEC+ increased output in July by the same amount as it did in the previous two months. This came as a relief to investors who were expecting a larger increase. The group decided to raise output by 411,000 barrels per day in July. Brent crude futures was up 2.33% to $64.24 a barrel, as of 0626 GMT. Analysts, however, said that low levels of fuel inventories in the U.S. have stoked supply concerns ahead of expectations for an above-avaerage hurricane season. Markets in the UAE were subdued, with Dubai's main share index down 0.17% in early trade and Abu Dhabi's benchmark index falling 0.21%. The Abu Dhabi index is set for a second staright session of losses. In Dubai, utility services provider Dubai electricity and Water Authority was the top loser, down 1.47%. The banking sector also faced losses, with Ajman Bank down 1.33% and Emirates NBD trading 1.12% lower. Bucking the trend, Saudi Arabia's benchmark stock index was up 0.44%. Saudi Print and Packaging Company was the top gainer on the index, up 5.66%. Qatar's benchmark stock index was down 0.56% in early trade, with Dukhan Bank down 0.71% and Islamic bank Masraf Al Rayan declining 0.62%.
Fintech News ME
2 hours ago
- Business
- Fintech News ME
Emirates NBD Partners with iPiD for Real-Time Cross-Border Payee Verification
Emirates NBD has entered into a partnership with iPiD, a Singapore-based provider of Know Your Payee (KYP) validation services. The collaboration aims to enhance the bank's cross-border payment processes by enabling real-time beneficiary validation. Through the integration of iPiD's technology, customers will be able to verify payee names, IBANs, and account numbers before initiating a payment. This is expected to reduce the risk of fraud, prevent transaction errors caused by incorrect details, and improve overall efficiency. The move is part of Emirates NBD's wider efforts to strengthen its fraud prevention measures and expand its capacity for payee verification across international markets. Anith Daniel, Group Head of Transaction Banking Services at Emirates NBD, said: 'At Emirates NBD we are committed to delivering an exceptional digital experience for our customers, underpinned by robust security and trust. Our partnership with iPiD, bringing global payee verification capabilities to enhance cross-border payments, reinforces this commitment. Together, we are ensuring safer, more efficient digital payments for our customers, domestically or across borders.' Damien Dagauquier, CEO and Co-founder of iPiD, added: 'With our advanced API and validation capabilities, we are empowering institutions like Emirates NBD to proactively combat fraud and deliver seamless payment experiences.'
TECHx
3 days ago
- Business
- TECHx
Masdar City Launches 24/7 Support and MasdarCom
Home » Smart Cities » Masdar City Launches 24/7 Support and MasdarCom Masdar City Free Zone has announced a major advancement in its business service offerings. It has become the first Free Zone in the UAE to introduce both a 24/7 customer support centre and a new digital platform, MasdarCom. These developments align with the UAE's digital transformation goals and Abu Dhabi's Economic Vision 2030. They also reflect Masdar City's commitment to innovation and support for its business community. MasdarCom is a community-driven digital ecosystem. It is designed to connect companies within Masdar City. The platform allows businesses to promote their services, collaborate with others, and manage transactions through a single, centralised interface. In addition, MasdarCom will be accessible to global users. This is expected to boost the international visibility of UAE-based enterprises. Alongside the platform, Masdar City Free Zone revealed its new 24/7 Customer Support Centre. It is the first of its kind in any UAE Free Zone. The support centre will assist tenants via phone, email, Microsoft Teams, and self-service kiosks. Key services include licensing, visa processing, and payments. Ahmed Baghoum, CEO of Masdar City, stated that MasdarCom is more than a platform. He described it as a transformative step in Free Zone support. According to Baghoum, the launch ensures businesses have the tools, access, and help they need at any time. He said this move positions Masdar City as a connected and future-focused business hub. During the announcement event, two new Memoranda of Understanding (MoUs) were signed: The first, with Emirates NBD, aims to simplify banking for businesses in the Free Zone and support joint initiatives. The second, with Torry Harris Business Solutions, sets a framework for co-marketing efforts and digital tool integration for SMEs and entrepreneurs. The event included a Town Hall attended by government officials, industry leaders, and strategic partners. Discussions covered Abu Dhabi's role in the global economy and how Masdar City Free Zone supports sustainable, innovation-led growth. Panelists featured representatives from ADIO, ADRA, Emirates NBD, Cell Lab 7, and The Catalyst.
Trade Arabia
4 days ago
- Business
- Trade Arabia
ENBD REIT net asset value rises 12.3% Y-o-Y
ENBD REIT, the Shari'a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has announced its Net Asset Value (NAV) stood at $218.6 million or $0.87 per share, compared to $216 million for the previous quarter and $195 million the previous year, a respective 1.4% quarter-on-quarter (Q-o-Q) and 12.3% year-on-year (Y-o-Y) increase. The value of ENBD REIT's property portfolio grew to $395 million, up 0.4% Q-o-Q and 6.9% Y-o-Y, supported by proactive asset management and an agile leasing strategy across the portfolio. Occupancy was maintained at 95%, the highest level recorded by the REIT, up from 93% the previous year, reinforcing the strength of the leasing strategy and market demand for high-quality spaces. Strong performance was led by the office segment, with rental growth in line with market trends. On the residential side, near full occupancy was maintained, supported by ongoing lease optimization following agreements made in the immediate post-pandemic period. Funds From Operations (FFO), which supports dividend distributions and excludes non-cash valuation movements, increased to $11.2 million from $7.8 million a year earlier, a 45% Y-o-Y increase. Gross income rose to $37.5 million from $34.6 million in the prior year, while net income, including non-cash valuation gains, increased significantly to $33.7 million, up 61% Y-o-Y. This strong performance was driven by process efficiencies, resilient tenant demand, successful lease renewals, and strategic enhancements across the portfolio. Operating expenses rose moderately by 3% Y-o-Y to $7 million, largely due to higher utilities and maintenance costs associated with increased occupancy. Fund expenses increased by 8%, in line with NAV-linked management fees. Finance costs declined by 8.1% Y-o-Y to $13.2 million, further supporting overall earnings growth. Samir Kazi, Head of Real Estate at Emirates NBD Asset Management, commented: 'We are delighted with this year's results. The improvement in FFO, dividends and NAV, portrays the effectiveness of our strategic and asset management initiatives, supported by a favourable market environment. "Tangible results have been realized, and our focus remains on delivering consistent, risk-adjusted returns to shareholders through proactive portfolio management and operational efficiency. As market conditions continue to evolve, we are well positioned to sustain this momentum and drive further value creation.' ENBD REIT continues to focus on maintaining high occupancy levels, strengthening asset performance, and improving operational efficiency, all while leveraging favourable market conditions to deliver sustainable long-term value to shareholders.
Zawya
4 days ago
- Business
- Zawya
ENBD REIT announces full year results for 31st March 2025
Portfolio value increases to USD 395 million, up 0.4% Q-o-Q and 6.9% Y-o-Y Record-high occupancy sustained at 95%, supporting income stability Funds From Operations up 45% Y-o-Y to USD 11.2 million Proposed final dividend of USD 5.0 million bringing the total dividend for the financial year to USD 10.0m, reflecting a 33.3% increase from the previous year Dubai, United Arab Emirates: ENBD REIT (CEIC) PLC ('ENBD REIT'), the Shari'a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has announced its full year results for the financial year ended 31 March 2025. ENBD REIT's Net Asset Value ('NAV') stood at USD 218.6 million or USD 0.87 per share, compared to USD 216 million for the previous quarter and USD 195 million the previous year, a respective 1.4% Quarter-on-Quarter (Q-o-Q) and 12.3% Year-on-Year (Y-o-Y) increase. The value of ENBD REIT's property portfolio grew to USD 395 million, up 0.4% Q-o-Q and 6.9% Y-o-Y, supported by proactive asset management and an agile leasing strategy across the portfolio. Occupancy was maintained at 95%, the highest level recorded by the REIT, up from 93% the previous year, reinforcing the strength of the leasing strategy and market demand for high-quality spaces. Strong performance was led by the office segment, with rental growth in line with market trends. On the residential side, near full occupancy was maintained, supported by ongoing lease optimization following agreements made in the immediate post-pandemic period. Funds From Operations (FFO), which supports dividend distributions and excludes non-cash valuation movements, increased to USD 11.2 million from USD 7.8 million a year earlier, a 45% Y-o-Y increase. Gross income rose to USD 37.5 million from USD 34.6 million in the prior year, while net income, including non-cash valuation gains, increased significantly to USD 33.7 million, up 61% Y-o-Y. This strong performance was driven by process efficiencies, resilient tenant demand, successful lease renewals, and strategic enhancements across the portfolio. Operating expenses rose moderately by 3% Y-o-Y to USD 7 million, largely due to higher utilities and maintenance costs associated with increased occupancy. Fund expenses increased by 8%, in line with NAV-linked management fees. Finance costs declined by 8.1% Y-o-Y to USD 13.2 million, further supporting overall earnings growth. Samir Kazi, Head of Real Estate at Emirates NBD Asset Management, commented: 'We are delighted with this year's results. The improvement in FFO, dividends and NAV, portrays the effectiveness of our strategic and asset management initiatives, supported by a favourable market environment. Tangible results have been realized, and our focus remains on delivering consistent, risk-adjusted returns to shareholders through proactive portfolio management and operational efficiency. As market conditions continue to evolve, we are well positioned to sustain this momentum and drive further value creation.' ENBD REIT continues to focus on maintaining high occupancy levels, strengthening asset performance, and improving operational efficiency, all while leveraging favourable market conditions to deliver sustainable long-term value to shareholders. ENBD REIT's Board has proposed a final dividend of USD 5.0 million or USD 0.02 per share for the 6-month period ending 31st March 2025. This brings the total dividend payable to shareholders for the financial year to USD 10.0 million, reflecting a 33.3% increase compared to the previous year. Subject to shareholder approval of the dividend at the Annual General Meeting on 25th June 2025, the shares will trade ex-dividend on 7th July 2025, with the record date set as 8th July 2025 and the payment date on 22nd July 2025.
