Monday 17 May 2021
 
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Remittances to Mena up 2.3% to $56bn in 2020: WB

Remittance flows to the Mena region rose by 2.3 percent to about $56 billion in 2020, due to strong remittance flows to Egypt and Morocco, said the World Bank in a new report. Flows to Egypt increased 11 percent to a record high of nearly $30 billion in 2020, while flows to Moroc

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Bank ABC returns to net profit of $30m in Q1

Bank ABC (Arab Banking Corporation) said that its consolidated net profit attributable to the shareholders of the parent for the first quarter (Q1) of 2021 was $30 million, compared to a net loss of $62 million reported for Q1 2020. The Group started the year on a solid and profi

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Bahrain-origin exports surge 59% to $778m in April

The value of Bahrain’s exports of national origin increased by 59% to BD295 million ($778million) during April 2021, compared to BD186 million for the same month of the previous year, said the Information & eGovernment Authority (iGA) in its foreign trade report of April 2021.

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Bahrain cbank in tie-up for digital currency settlement

The Central Bank of Bahrain (CBB) is collaborating with J P Morgan and Bank ABC in a pilot scheme to introduce instantaneous cross border payment solution leveraging state of the art technology and digital currency.   Bank ABC along with J.P. Morgan will pilot the transferrin

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Bahrain's Ithmaar Bank swings to $4.2m Q1 net profit

Ithmaar Bank, a Bahrain-based Islamic retail bank, has reported a net profit of BD1.6 million ($4.2 million) for the first three months, compared to a net loss of BD5.68 million ($14.9 million) for the same period last year.    Its total assets surged to hi

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GFH's Q1 profit grows three-fold, net income hits $90.3m

GFH Group, a leading regional financial group with major interests in asset management and real estate, has reported a net profit attributable to shareholders of $16.12 million for the first quarter compared with $5.08 million last year, up 217.2%.    Annou

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Al Salam Bank-Bahrain Q1 net profit surges 144%

Al Salam Bank-Bahrain has reported net profit attributable to shareholders of BD6.1 million ($16.15million) in the first quarter of 2021 compared to BD2.5 million ($6.7million) in the first quarter of 2020, reflecting an increase of 144%. The increase in net profit was attributab

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Bank ABC Islamic Q1 net profit up 79%; tops $10m

Bahrain-based Bank ABC Islamic has posted a net profit of $10.4 million in the first quarter (Q1) of the year compared to $5.8 million reported in Q1 2020, marking an increase of 79.3% after the bank absorbed the fraud related losses in 2020. Total operating income of $11.7 Milli

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Saudi Arabia records real 4% GDP growth in Q1

Saudi Arabia’s seasonally adjusted real gross domestic product (GDP) of non-oil activities and government service activities recorded a positive growth of 4% in the first quarter (Q1) of 2021, compared to Q4 2020. Meanwhile, the year-on-year change of non-oil activities rea

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Invest in Dubai records robust growth

Invest in Dubai (IID), an integrated digital business set-up platform, has recorded robust growth in its use, reflecting Dubai’s growing position as a leading global business destination for investors and entrepreneurs locally and globally. IID offers a unique business set-

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