Monday 22 April 2019

Eazy appoints new executive team members

The Bahraini fintech company, Eazy Financial Services has recently appointed several members of its executive management team.   The company has named its co-founder Nayef Tawfiq Al Alawi as the new chief executive officer. It has also promoted Waleed Bucheeri a


GIB converts its Saudi branches into local bank

Bahrain-based Gulf International Bank (GIB) said that it completed the conversion of its existing branches in Saudi Arabia into a locally incorporated bank. This is the first time that a foreign bank in Saudi Arabia has become locally incorporated. Having received


Alkhabeer posts $50m income for FY 2018

Jeddah-based Alkhabeer Capital, a top asset management company specializing in alternative investments, has reported an operating income of SR188 million ($50 million) for the fiscal year 2018 (FY 2018). The company ramped up its investment activity in private equity and real est


China’s Wonder News launches regional HQ in Bahrain

Chinese technology group Wonder News has launched its regional headquarters in Bahrain, which will offer services to GCC clients in the e-commerce and FinTech sectors. Wonder News will invest $50 million and offer 500 employment opportunities in the Kingdom over the next three ye


Dubai issues 7,418 business licences till mid-April

Dubai government has announced that the number of licences issued to new businesses registered in the emirate rose 3 per cent since December 2018. With this the total number of licences issued from the start of 2019 to April 15 has reached 7,418, reported state news agency Wam, citing


Gulf Insurance Group – Kuwait picks Beyontec Suite

Beyontec, a global insurance information and technology solutions provider, said it has been selected by Gulf Insurance Group Kuwait (gig-Kuwait) to implement its core solution, Beyontec Suite, across the company's general, group life, finance and ERP modules. A major player


Al Salam Bank, AFS launch first digital payroll solution

Al Salam Bank-Bahrain (ASBB), the pioneering shari’a-compliant bank in the kingdom, has joined hands with Arab Financial Services, the region’s leading FinTech enabler and payment services provider, for the official launch of the first digital payroll solution ‘Al Rateb.&rsquo


Trade Bank of Iraq opens first Saudi branch

The Trade Bank of Iraq (TBI) has opened a new branch in Saudi Arabia, making it the first international outlet and the only active Iraqi branch in the kingdom. The new branch was inaugurated by Dr Fuad Hussein, deputy prime minister and finance minister of Iraq.  


Investcorp buys prime office property in Frankfurt

Investcorp, a leading global provider and manager of alternative investment products, has announced that its London-based real estate investment team has acquired Lyoner Stern, a multi-let office building located in Frankfurt, Germany. This is Investcorp’s third real estate


CBD net profit increases 21.6pc in Q1

Commercial Bank of Dubai (CBD) reported a 21.6 per cent year-on-year net profit increase in Q1-2019 on the back of higher revenues, said a report. The net profits of the UAE’s lender rose to Dh340 million ($92.55 million) in Q1-19 from Dh280 million ($76.23 million) during

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