UAE

UAE looking to use 3D technology in healthcare

Hospitals in the United Arab Emirates are looking to integrate the new 3D printing technology in order to provide advanced healthcare services in the country.

The hospitals in the region are looking to keep pace with the technological advancements in healthcare around the world and are working to start using the 3D technology for providing teeth, hearing aids, medical devices, casts and even artificial limbs. Experts said that the new 3D technology will benefit patients with shorter waiting times and cheaper treatment options in the country.

National Bank of Abu Dhabi to merge with First Gulf Bank

The National Bank of Abu Dhabi and First Gulf Bank, both based in Abu Dhabi, are planning to merger in order to create a financial giant in the region.

The proposed merger will create the largest bank in the Middle East and North Africa region with AED 642 billion or $175 billion of assets and a combined market capitalisation of approximately AED 106.9 billion or around $29.1 billion. The new entity will be a financial powerhouse and will advance the UAE's position in the global financial market.

Oman's ambassador honoured in UAE

Shaikh Mohammed bin Abdullah al Qatabi, the Ambassador of Oman to the United Arab Emirates have been conferred Zayed Second Order (1st Class) by Shaikh Khalifa bin Zayed al Nahyan, President of the United Arab Emirates for his efforts to strengthen ties between the two countries.

UAE faces shortage of financial talent

Experts in the financial industry have said that there is a growing shortfall of adequate talent in the financial services industry in the United Arab Emirates.

There is growing competition between the Abu Dhabi's new financial free-zone (ADGM) and the existing financial centre of Dubai to become a leading financial hub of the Gulf Cooperation Council (GCC) region as well as the larger Middle East and North Africa (Mena) region. However, there is a shortfall of talent in the field in the region.

Mobile Wallet payments to cross $13bn in 5 years in UAE

According to a new report, the total money paid through the new Mobile Wallets is expected to cross the figure of ($13.6 billion during the next five years in the United Arab Emirates (UAE).

The authorities are planning to upgrade UAE banks with devices to accept mWallets payments across the country. The Mobile Wallet Project is expected to record AED50 billion or $13.6 billion is payments moving from cash to mobilewithin five years taking a 35 per cent market share.

UAE Private Wealth grew 10.2 percent in 2015, BCG

According to a new report by The Boston Consulting Group (BCG), the Private wealth in the United Arab Emirates (UAE) recorded a strong growth of 10.2 percentin 2015.

In its new report, Global Wealth 2016: Navigating the New Client Landscape, the global agency said that the growth of private wealth in the UAE was mainly due to cash and deposits. The data showed that the amount of wealth held in cash and deposits increased by 16.7 percent in the country compared to 0.7 percent for bonds, and 3.8 per cent for equities between 2014 and 2015

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