Wednesday 20 June 2018

Bahrain FDI more than doubles to $519m in 2017

Foreign direct investment (FDI) inflows to Bahrain grew 114 per cent in 2017 to $519 million, according to data released by the United Nations Conference on Trade and Development (UNCTAD), the fastest growth rate in the GCC. The rapid growth came in spite of a drop in global FDI


Latitude Consultancy set for merger with Dubai firm

Latitude Consultancy, a leading British company in the investment migration industry, has announced its plans for a merger with RIF Trust Investments, a Dubai-based citizenship-by-investment leader in the GCC region. The merger will expand Latitude’s international network t


Global sukuk issuance falls 15pc in H1 to $44bn

Global sukuk issuance reached $44.2 billion during the first half of 2018, as against $52.2 billion recorded during same period of 2017 marking a fall of 15.3 per cent, said S&P Global Ratings in a new report. This drop was even more pronounced for foreign currency sukuk issu


UAE cbank sets new caps on banking fees

The UAE Central Bank (CBUAE) has announced new maximum limits or ‘caps’ for fees or commissions charged on retail customer service in a move to protect consumers against arbitrary levying for various services, a media report said. The fee caps apply to banking consume


Bahrain non-oil growth to hit 4.6pc over 2018-19: NBK

Bahrain’s non-oil growth is expected to average 4.6 per cent over 2018-19, underpinned by government infrastructure spending on a record $8 billion worth of projects—the kingdom’s largest ever pipeline, said the National Bank of Kuwait (NBK) in its latest Economic Update.


Emirates Islamic wins big at Banker ME Awards

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, walked away with two major trophies at the recently held Banker Middle East Product Awards in Dubai, UAE. The bank claimed the ‘Best Mobile Banking app’ award as well as ‘Best Islami


Bank ABC wins CBB nod for share price liquidity

Bank ABC, a leading player in the region’s banking industry, said it has obtained approval from the Central Bank of Bahrain (CBB) to appoint a market maker for enhancing the liquidity of its share trading on the Bahrain Bourse.   This arrangement was also


Emirates NBD signs Amwal for clearing services

Emirates NBD, a leading bank in the region, has announced that UAE-based Amwal Brokerage has signed up as trading member to avail the bank’s settlement and clearing services. Following approval by the Securities and Commodities Authority (SCA) as a ‘general clearing m


RakBank hosts campaign on remittance solution

RakBank recently partnered with C3, part of the Edenred Group and Farnek, a leader in facilities management, in order to host a financial literacy campaign at both the Dubai and Ras al Khaimah headquarters of the bank. The objective of the financial literacy campaign was to highl


IMF general legal counsel Sean Hagan to retire

The International Monetary Fund’s (IMF) general counsel, Sean Hagan, will retire at the end of October, managing director Christine Lagarde announced today. Hagan has worked at the fund for 28 years, including almost 14 as general counsel and head of the fund’s Legal

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