Monday 3 August 2015

Oman business delegation to visit India

A business delegation comprising 14 Omani companies will visit India beginning August 10 with a view to improving trade and investment links and export. The delegation will be led by Salem Ben Nasser Al Ismaily, chairman of Ithraa, Oman’s investment and export promotion age


DGCX records 11pc growth in trading volumes

Dubai Gold and Commodities Exchange (DGCX) has registered a 11  per cent growth in year-to-date volumes, with ore than 7. 5 million contracts.   The exchange also recorded the highest average monthly open interest (OI) in July with more than 78,000 contract


GIES to feature Islamic economy contest

The upcoming Global Islamic Economy Summit (GIES 2015) in Dubai, UAE will host the inaugural ‘Innovation 4 Impact’ competition, the first of its kind targeting the growing Islamic digital economy. The summit is scheduled to run on October 5 and 6 at the Madinat Jumeir


Mobily shares hit six-year low

Shares in Saudi Arabia's telecommunications firm Etihad Etisalat (Mobily) tumbled to a six-year low as they resumed trading on Monday after the company restated earnings for 27 months and posted a second-quarter loss. The stock opened 10 per cent lower at SR30.50, its lowest


Credimax, MasterCard launch corporate card

Credimax and MasterCard have launched the MasterCard Corporate Card – a payment solution for corporate customers. A statement by CrediMax said the card addresses unique needs of businesses, such as allowing them to streamline the flow of payments to and from their suppliers, customers,


BBK backs campaign to support women in banking

BBK has signed up as the lead empowerment sponsor for a year-long campaign launched by Central Bank of Bahrain (CBB), in cooperation with the Supreme Council for Women (SCW) to promote the role of women in the financial sector. The campaign "Women in the Financial and Bankin


Saudi stocks tumble on oil, earnings

Stock markets across the Middle East fell on Sunday after oil prices dropped again and Saudi Arabia, heavily influenced by the petrochemicals sector, led losses, hitting a four-month low. The main Saudi index sank 3.2 per cent to 8,807 points, its biggest daily loss since late Ma


EFG Hermes gets new head of business development

EFG Hermes announced today the appointment of Sadiq Hussain as managing director at the firm’s asset management division, to head business development. With 25 years of international experience in emerging and regional markets, Hussain joins EFG Hermes from J P Morgan Secur


Saudi cbank curbs credit card cash withdrawals

Saudi Arabia's central bank has tightened restrictions on cash withdrawals from banks using credit cards in an effort to head off any consumer debt problems. Previously, under an informal industry arrangement customers could obtain cash advances equivalent to as much as 50 pe


Payfort launches flexible payment plan

Payfort, a leading online payment service provider, has launched its installments service in the United Arab Emirates, Saudi Arabia and Egypt. The new service that makes it easy for ecommerce merchants to offer pay-via-installment options to customers and gives consumers greater

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