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HIT NEWS

Abu Dhabi Islamic Bank has taken over Barclays' UAE retail banking business.

Reports suggest, the banks are working closely to ensure the seamless transition of more than 110,000 customers onto the new banking platform.

In May this year, ADIB received regulatory approval from the UAE central bank for its purchase of Barclays' retail operations.

The largest sharia-compliant lender in the emirate agreed to a AED650m deal with the British bank.

The maritime sector now accounts for 4.6% of Dubai's GDP. That's equivalent to AED 14.4 billion.
This includes port operations, maritime engineering, recreational services and offshore support services.
The national news agency WAM has quoted officials saying the sector has created 75,000 job opportunities.
The figures are said to a positive development under the Dubai Maritime Sector Strategy, aimed at boosting the local industry.

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