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The confrontation between the technology industry and the FBI over encryption has deepened after Apple pledged to fight a court order that it help unb(...)
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ADCB and UNB are in merger talks along with unlisted Al Hilal Bank.
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I know an archaeologist on faculty at UNB in Fredericton.
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Shares of UNB are up about 26 percent year-to-date on expectations over the merger.
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It will involve a statutory merger between ADCB and UNB.
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UNB spokespeople could not be reached for comment.
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One of the sources said UNB and Al Hilal could feel the bulk of the job cuts.
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UNB jumped 14.8 percent to 4.43 dirhams, the highest since March this year.
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ADCB was up 0.8 percent and UNB added 1.6 percent.
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UNB gained 1 percent.
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The two banks continued rising on Monday morning, with ADCB up 1.6 percent and UNB climbing 3.8 percent.
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Barclays has been appointed by ADCB to advise on a potential merger plan involving UNB and Al Hilal Bank, Reuters reported, citing banking sources.
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UNB's loans and advances grew 8 percent from the first quarter 2016 and customer deposits rose by 5 percent.
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The merger, first announced in September, was unanimously recommended to shareholders by the boards of ADCB and UNB, the banks said in a joint statement.