Tuesday 11 December 2018

Abu Dhabi Exchange lists $300m sukuk for Senaat

The Abu Dhabi Securities Exchange (ADX) and General Holding Corporation, Senaat, yesterday (December 9) rang the market opening bell to celebrate the listing of the first tranche of Senaat sukuk. Valued at $300 million (Dh1.1 billion), it is the first of its kind dual listing bet


Bahrain mulls 2 more IPOs

Bahrain may see two more initial public offerings (IPOs) in the next two years, Kamal bin Ahmed, Minister of Transportation and Telecommunications, has said.   Speaking on the sidelines of the bell ringing ceremony following the listing of APM Terminals' IPO


Sharjah 2019 budget sees $7bn spending

The UAE emirate of Sharjah has announced a budget with total expenses of Dh25.7 billion ($7 billion) for 2019, marking a 10 per cent growth in spending compared to its 2018 budget.   The budget projects an increase in spending on public safety as well as on capi


APM Terminals shares start trading on Bahrain Bourse

APM Terminals Bahrain, the operator of Bahrain’s Khalifa Bin Salman Port (KBSP), was today (Sunday, December 9) listed and traded on the Bahrain Bourse under the trading symbol APMTB, following a traditional ringing bell ceremony.   The ceremony was held i


Burgan Bank appoints CEO for Kuwait

Burgan Bank has announced today the appointment of Raed Al-Haqhaq as chief executive officer for its operations in Kuwait after obtaining approval from the Central Bank of Kuwait. Al-Haqhaq played a vital role in shaping and executing the strategic direction of Burgan Bank &ndash


DIFC eyes global FinTech hub status

Dubai International Financial Centre (DIFC) has made great strides in the FinTech space, cementing the emirate’s position as one of the world’s top 10 FinTech hubs and a preferred growth platform for startups and SMEs, said a senior official.   A lea


Sinnad Bahrain gets PCI Data Security certification

Sinnad, the region’s leading card processing service provider, has successfully attained the latest version of the PCI Data Security Standard version 3.2 (PCI DSS V3.2) compliance certification for its platform in Bahrain.   A Bahraini registered company s


Ras Al-Khaimah launches smart e-payment system

The Ras Al Khaimah Department of Finance has partnered with RakBank as exclusive acquiring bank and STS PayOne as a leading regional provider of ePayment solutions, to launch RAK SmartPay as an integrated e-payment system in the Emirate. This was announced during a press conferen


GCC banking outlook for 2019 stable: Moody's

The outlook for Gulf Cooperation Council (GCC) banking systems remains stable, reflecting their improving operating conditions, weakening but still, solid loan performance and strong capital, Moody's Investors Service said in a report.   Moody's 2019 Out


Bahrain cbank issues final rules on open banking

The Central Bank of Bahrain (CBB) today (December 6) issued the final rules on “open banking”, which will facilitate the provision of a variety of innovative services for bank customers in the kingdom. Khalid Hamad, the executive director of Banking Supervision at the

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