Friday 19 April 2019
 
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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

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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.  

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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

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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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Three top Egypt firms set up mortgage finance JV

TMG, GB Capital and EFG Hermes finance, three of Egypt’s publicly traded companies, have entered into an agreement to create a mortgage finance joint venture.   The new partnership will offer long-term and competitive mortgages for new move-in homes, incre

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UAE’s GDP to grow 4.7pc to $455bn in 2019: IMF

The International Monetary Fund (IMF) has forecast the UAE’s nominal Gross Domestic Product (GDP) to grow 4.7 per cent to Dh1.673 trillion ($455 billion) in 2019, compared to Dh1.589 trillion a year ago. The GDP growth is reflective of the economic diversification efforts m

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CBD net profit up 21.6pc to $92.5m in Q1

Commercial Bank of Dubai (CBD) has reported a 21.6 per cent year-on-year net profit increase in Q1-2019 on the back of higher revenues. Net profits of the UAE’s lender rose to Dh340 million ($92.5 million) in Q1-19 from Dh280 million ($76 million) during corresponding perio

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Dubai Investments to distribute 10pc cash dividends

Dubai Investments, a leading diversified investments conglomerate listed on the Dubai Financial Market, has announced plans to distribute 10 per cent cash dividends to its shareholders for the financial year ending December 31, 2018. A proposal to this effect was approved by shar

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Equities still the best choice, finds survey

Many ultra-high net worth investors (39 per cent) from Europe, the Middle East and Africa (EMEA) continue to believe equities will be the best performing asset class over the next 12 months, according to J P Morgan’s Spring Private Client Survey.   Despite

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NBB net profit up 3.6pc to $54.3m

National Bank of Bahrain (NBB) today announced a net profit of BD20.4 million ($54.3 million) for the first quarter of this year, ended March 31, an increase of 3.6% compared to BD19.7 million ($52.4 million) during the prior year period.     Operating

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