Tuesday 14 July 2020

Bahrain to suspend future fund deductions this year

Bahrain's Cabinet today approved a memorandum submitted by the Ministerial Committee for Financial and Economic Affairs and Fiscal Balance recommending temporarily suspending the deductions of oil revenues allocated to the Future Generations Reserve Fund until the end of the fiscal year 2


$470m emergency expenditures added to Bahrain budget

Bahrain's His Majesty King Hamad bin Isa Al Khalifa today issued Decree-Law 22/2020 on adding emergency expenditures to the state budget 2020.   The decree-law stipulates that an emergency expenditure of BD177,360,117 ($470,414,366) will be injected into thi


ila Bank launches virtual talent programme with BIBF

ila Bank, Bahrain’s fast-growing digital mobile-only bank, has launched a Virtual Talent Development Programme, The Transformers, in collaboration with the Bahrain Institute of Banking and Finance (BIBF).   The programme, launched on July 5, is tailored to


Dubai Investments celebrates 25th anniversary

Dubai Investments, a leading investment and a public joint stock company listed on the Dubai Financial Market (DFM) recently celebrated its silver jubilee, marking 25 years of investments in the region, with a bell ringing ceremony at the DFM. The bell ringing ceremony was attend


Bahrain banks ‘backing economy during pandemic’

The commitment of banks in Bahrain to the package of regulatory measures issued by the Central Bank of Bahrain contributes to mitigating the effects of Covid-19’s financial implications on customers of the banking sector, a top official said. Dr Adel Al Basha, Chairman of t


Hub71 picks 11 new startups for incentive programme

Hub71, Abu Dhabi’s global tech ecosystem based in Abu Dhabi Global Market Square, has announced the latest startups to have been selected for the Hub71 Incentive Program’s second cohort of the year. The eleven startups come from all over the world, including: Bahrain-


New group head of marketing for Mashreq

Mashreq, one of the leading financial institutions in the UAE, has appointed Aimee Peters as its new Group Head of Marketing & Corporate Communications.    Peters has over 20 years of experience in marketing, communications and PR, across the Middle Eas


BenefitPay to support children with cancer

Benefit company, a leading provider of electronic financial transactions, has announced that users of its BenefitPay eWallet could donate through it to "Smile" initiative of the Future Society for Youth, which provides psychosocial support to children with cancer in Bahrain.


Tradeling launches revolving credit facility for SMEs

Tradeling, a fast-growing eMarketplace focused on business-to-business (B2B) transactions, has announced a new credit facility for SME buyers on its platform, to support them in business recovery and continuity. The service is offered in partnership with UAE-based Invoice Bazaar,


Abu Dhabi Fund suspends debt repayments

Abu Dhabi Fund for Development (ADFD), the leading national entity that supports sustainable economic development at home and abroad,  has decided to suspend debt service repayments during 2020 for eligible countries, as well as individual businesses, in the developing world upon request

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