Thursday 25 February 2021

GFH acquires distribution facility in Chicago

GFH Financial Group (GFH) has acquired a mission-critical distribution facility in Chicago, Illinois, which has been leased since November 2015 to blue chip tenant, Michelin North America, an international tire brand. The transaction, valued at over c.$135 million, marks the cont


ENBD Capital logs record debt capital transactions

Emirates NBD Capital (ENBD Capital), the investment banking arm of Emirates NBD, one of the leading banking groups in the region, has marked a record year of debt capital transactions. The investment bank’s Debt Capital Markets (DCM) team successfully completed c. 60 transa


Oman’s budget deficit stands at 13.5% in Q3 2020

Oman’s general budget deficit increased by 58.5% at the end of the third quarter of 2020, to reach RO2.4 billion ($6.2 billion), compared to RO1.5 billion in the same period of 2019, constituting a ratio of 13.5% to GDP at the current prices. The total public revenue droppe


The 10th annual Middle East Banking Innovation Summit returns next week

The Annual Middle East Banking Innovation Summit next week will showcase the latest advancements in fintech with a particular focus on the UAE.   Returning for its 10th edition on March 1 and 2, 2021 at the Le Méridien Dubai Hotel & Conference Centre,


Al Baraka Islamic Bank net profits rise

Al Baraka Islamic Bank (AIB) reported a net profit attributable to the shareholders of BD1.23 million ($3.26 million) in the fourth quarter of 2020 compared to BD196,000 reported in the fourth quarter of 2019.    For the 12months ended December 31, 2020, AI


North Ladder secures $5m funding round led by Beco

North Ladder (previously called BuyBack Bazaar), a UAE based secured trading platform for pre-owned luxury assets and electronics, has announced a $5 million Series A funding round led by regional venture capital firm Beco Capital. The new investment will help the company scale u


EdTech Panel to highlight the future of learning post Covid-19

The 7th Virtual FinTech series hosted by Andra Public Relations will be held this week on Wednesday, February 24th at 3:00PM titled “EdTech: the next wave”.    The new episode is powered by Lumofy; a Bahrain-based EdTech startup that has been de


Indosuez Wealth Management appoints Trad as Global Head

Indosuez Wealth Management, the global wealth management brand of Crédit Agricole Group, announces the appointment of Fouad Nicolas Trad as Global Head of Middle East.   Based in Dubai, Fouad will report within CA Indosuez (Switzerland) SA to Isabelle Jac


GCC insurers' ratings to remain broadly stable in 2021, says expert

S&P Global Ratings said ratings on insurers in the GCC will remain broadly stable in 2021, mainly due to the robust capital buffers despite ongoing economic uncertainty relating to the COVID-19 pandemic.   Real GDP in the GCC countries will likel


Pace of world trade rebound may be short lived: WTO

World merchandise trade volume growth remained strong in the fourth quarter of 2020 after trade rebounded in the third quarter from a deep Covid-19 induced slump; however, the pace of expansion in the fourth quarter is unlikely to be sustained in the first half of 2021 since key leading indicat

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