Tuesday 1 December 2020

GFH acquires Athena special education school

GFH Financial Group has acquired Athena Private School for Special Education, Bahrain further building the group’s regional education portfolio valued at more than $250 million.   Athena, which began operations around one year ago, has quickly established


Mashreq attains ‘market leader’ position in UAE

Mashreq Bank, a leading financial institution in the UAE, has achieved the “Market Leader” position in the UAE and second in the Middle East in the Euromoney Cash Management Survey 2020, the benchmark survey for the global cash management industry. Mashreq was recogni


AXA to sell its insurance operations in Gulf

AXA, a top insurer in the region, has entered into an agreement with Gulf Insurance Group to sell its insurance operations in the Gulf region, which includes its shareholding in AXA Gulf, AXA Cooperative Insurance Company and AXA Green Crescent Insurance Company. gig is a leading


Oman Insurance reports AED160.2m Q3 net

Oman Insurance Company, one of the leading insurance providers in the Middle East, has announced net profit growing to AED160.2 million ($43.6 million) in the third quarter of 2020.    The company’s  solvency above 250% which is amongst the highe


SAIB partners with Trend Micro to secure its digital estate

Trend Micro Incorporated has said that the Saudi Investment Bank (SAIB) has successfully deployed its security innovations to guard the bank’s digital estate against a range of threats, and deliver more secure experiences to its customers.   Having moved f


Contactless payment app Empay launched in Dubai

The Emirates Payment Services has announced the launch of Empay, the world’s first contactless instant credit lifestyle payment ecosystem, in Dubai, UAE.  Empay, designed and developed within the UAE’s Smart Government program framework, is a payment application


Agthia to become a regional F&B champion with new tie-up

Shareholders of Agthia Group, a leading food and beverages company have approved its tie-up with with Al Foah Company, the world’s largest date processing and packaging company.   The approval came at the 15th General Assembly Meeting of Agthia, which is o


UAE, Saudi central banks issue report on digital currency project

In a joint statement, the UAE's central bank, CBUAE and the Saudi Central Bank (Sama) have announced the results of ''Aber'' project for digital currency.   Aber is an novel initiative which is considered one of the first of its kind internat


Sohar International concludes $100m syndication

Sohar International has recently concluded a $100 million syndication, which is considered a landmark transaction for the bank as it defied the odds of depressed market conditions, tight global liquidity, and a reduced market appetite.    It also cemented t


Alkhabeer Fund to open for subscription

Alkhabeer Capital, the asset manager specialising in Shari'a-compliant investments and financial services, has said the subscription period for its “Alkhabeer Diversified Income Traded Fund” will start on Sunday, December 6, 2020.    The Fun

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