Tuesday 31 May 2016

UAE remittances to Egypt hit $1.83bn in 2015

Egypt received an estimated $19.7 billion in remittances from the world over in 2015, of which $1.83 billion came from the UAE, according to remittance data of World Bank. Meanwhile, Jordan received $3.8 billion from countries across the globe, with the UAE contributing $716 mill


Noor Bank issues $500m sukuk

The UAE-based Noor Bank has successfully priced its debut perpetual $500 million Tier 1 capital issuance, a statement from the bank said. In the midst of multiple regional issuers on the road looking to raise capital market funding, Noor Bank was able to print its inaugural AT1 S


NCR to launch new solution at Dubai event

NCR Corporation, a global leader in omni-channel solutions, has announced the Middle East Africa launch of NCR Customer Journey & Sales Manager Platform to empower financial institutions to transform customer experiences and maximise revenue generation. NCR has been working w


Americana shares sale to Adeptio scrapped

Kuwait's Al-Kharafi family has scrapped a sale of a majority stake in Kuwait Food Co (Americana) to a Gulf-based consortium, a company controlled by the family said on Sunday, ending months of talks over the multibillion-dollar deal. Americana, which owns the Middle East fran


Sico named Bahrain bourse market maker

Bahrain Bourse (BHB) has approved Securities & Investment Company (Sico) as the first market maker at the stock exchange, reported the Gulf Daily News, our sister publication. To read further, please visit


KHCB,Gulf Air renew partnership

Khaleeji Commercial Bank (KHCB), one of Bahrain’s leading Islamic retail banks, has renewed its partnership with Gulf Air, Bahrain’s national carrier, with the signing of a new memorandum of understanding at the airline’s headquarters, giving the bank’s credit card holde


Bahraini lender Ibdar names new board

Bahrain-based Islamic investment bank Ibdar has appointed a new board of directors with Tareq Sadeq, a member of Ahli United Bank Kuwait board and managing director of Keystone Consulting, as its chairman and Abdulkarim Ahmed Bucheery, the ex-CEO of Bank of Bahrain and Kuwait and the vice chair


QIC launches e-motor claims management service

Qatar Insurance Company (QIC), the country's leading insurer, said its retail arm has launched an automated online motor claims management service for its customers. QIC Insured pointed out that with this new service, customers can register their motor claims online following


Egypt eyes 9.8pc budget deficit for 2016-2017

The Egyptian government is targeting a budget deficit of 9.8 per cent for 2016-2017 and 9 per cent for the following year, the planning minister said in a news conference on Saturday. Ashraf Al Araby also said his government is targeting less than 4.5 per cent growth in the secon


UAE signs double taxation deal with Kosovo

The UAE government has signed key agreements on avoidance of double taxation and protection and promotion of investment with the Republic of Kosovo.   The signing ceremony took place in the capital Pristina during an official visit of the UAE delegation headed by Younis Haji

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