Monday 27 September 2021

MidChains completes inaugural trades

MidChains, the virtual asset trading platform based in Abu Dhabi and part of Hub71’s cohort, has completed its first trades across all its listed assets. MidChains is a fully regulated and supervised trading platform acting under the Financial Services Regulatory Authority’s (FSRA


AIIB anchors Aberdeen Standard regional fund

The Asian Infrastructure Investment Bank (AIIB) has announced that it will anchor the Aberdeen Standard Investcorp Infrastructure Partners’ (ASIIP) new regional fund (the Fund) by committing $90 million to its first close. ASIIP had also received a capital commitment from t


National Bonds appoints Lootah as new Deputy Group CEO

National Bonds Corporation is pleased to announce the appointment of Rehab Lootah as the new Deputy Group Chief Executive Officer with effect from September 5, 2021. Lootah was previously Senior Vice President SME & Retail Business at Mawarid Finance.   


Dubai’s non-oil external trade up 31% to top $196bn in H1

Dubai’s non-oil external trade surged 31% in the first half of 2021 to reach AED722.3 billion ($196.6 billion) from AED550.6 billion in the corresponding period in 2020. Exports grew 45% year on year (YoY) in H1 2021 to AED109.8 billion ($29.9 billion) from AED75.8 billion,


Bahrain mulls change in VAT rate to support economy

Bahrain is considering several options to support the financial and economic recovery and to maintain social support for eligible citizens, including adjusting the rate of the value-added tax (VAT), it was revealed at a key meeting.    Government ministers


Petrofac pleads guilty of bribery related charges in Mideast

British oilfield services company Petrofac has pleaded guilty on seven counts of bribery committed to obtain projects in Iraq, Saudi Arabia and the UAE. A plea agreement was reached with the UK Serious Fraud Office (SFO).   In a statement on Sunda


Bahrain Bourse in tie-up to develop IR best practice

Bahrain Bourse has collaborated with Instinctif Partners Mena, a top business communications consultancy and Investor Relations (IR) advisory, to implement IR-related initiatives, which will allow Bahrain Bourse to promote best practice among listed companies, other market participants, as well


Amanat unit divests minority stake in IMC for $118m

Amanat Holdings, a leading healthcare and education investment company said that Saudi Healthcare and Education Fund, in which Amanat through its subsidiaries indirectly holds 100% of its units, has completed the sale of its minority equity interest representing 13.13% of the shares in Internat


Sharjah to highlight FDI potential at Expo 2020

Invest in Sharjah will showcase the emirate’s potential for foreign direct investment (FDI) at Expo 2020 Dubai, the world’s biggest fair, taking place from October 1 to March 31, 2022. With a presence at the Business Connect Centre on the Expo grounds, Invest in Sharj


Bank Nizwa completes rights issue, nets $181m in capital increase

Oman’s leading Islamic bank Nizwa has announced the successful completion of its rights issue which was open for subscription from September 7 until September 16.    Subsequent to the subject matter disclosures, Bank Nizwa announced new 736.953 millio

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