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Aldar has announced a partnership with Mandarin Oriental to develop Abu Dhabi's first Mandarin Oriental branded residences on Saadiyat Island. Scheduled to launch for sale later in 2024, the development will feature 228 luxury residences with panoramic views of the Arabian Gulf and Zayed National Museum. Located in the Saadiyat Cultural District, the residences will be near world-class museums, dining, and entertainment options. This collaboration highlights Abu Dhabi's growing appeal as a global destination and addresses the increasing demand for luxury branded residences.

MBME Pay Payment Services Provider, a subsidiary of MBME Group, has signed an agreement with Ruya Community Islamic Bank L.L.C., a digital-first Islamic bank in the UAE. The partnership aims to utilize digital services to enhance customer satisfaction and meet expectations while keeping up with digital advancements. This collaboration marks a significant step forward for MBME Group.

ADNEC Group, a subsidiary of Modon Holding, has signed agreements to acquire Royal Catering Services LLC, an Abu Dhabi-based catering provider with over 2,500 employees and a capacity of producing over 50,000 meals daily. This acquisition will integrate Royal Catering with ADNEC's Capital Catering business, making it one of the largest catering providers in Abu Dhabi. The move expands Capital Catering's focus and production capacity, enhancing ADNEC's market presence and profitability. The acquisition aligns with ADNEC's growth strategy, targeting high-potential sectors, and includes plans for operational improvements and technology integration. Modon Holding's CEO, Bill O'Regan, and ADNEC's CEO, Humaid Matar Al Dhaheri, emphasized the strategic importance of this acquisition in strengthening their market position and service offerings in Abu Dhabi and the UAE.

GFH Financial Group B.S.C. and Ithmaar Holding B.S.C. have announced that they are still in the process of negotiating GFH's acquisition of Ithmaar's financing and investment portfolios, which is subject to regulatory approvals. Shareholders will be regularly updated on any developments. The expected financial impact will be disclosed in due course. Previous announcements regarding these discussions were made on 6th March, 7th April, 6th May, 6th June, and 19th September 2024. The announcement was made by Mariam Jowhary, Head of Compliance and AML.

United Arab Bank (UAB) reported a 12% increase in pre-tax net profit for the first nine months of 2024, reaching AED 233 million compared to the same period last year. The bank's total assets grew by 13% to AED 20 billion, driven by a 15% increase in loans, advances, and Islamic financing. Net interest income rose by 20% year-on-year to AED 354 million. UAB maintained a strong capital position with a CET1 ratio of 13.8% and a total capital adequacy ratio of 18.8%. Asset quality improved with a reduction in the non-performing loan ratio to 4.1% and an increase in the coverage ratio to 125%. The bank's liquidity profile remained robust, with an advances to stable resources ratio of 74% and an eligible liquid asset ratio of 15%. Moody's upgraded UAB's credit rating to Baa3/P-3 with a 'Positive' outlook.

United Arab Bank P.J.S.C. has released a review report and condensed interim financial statements for the nine-month period ending on September 30, 2024.