Saturday 3 December 2016

EIB announces $2.66bn support for Tunisia

Tunisia will receive up to €2.5 billion ($2.66 billion) of support from the European Investment Bank (EIB) by 2020, the bank's president, Werner Hoyer, has announced. The objective of the aid is to promote inclusive and sustainable growth, the main source of jobs for you


ADGM, Egypt commission to enhance cooperation

The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and the Egyptian Financial Supervisory Authority (EFSA) have signed a memorandum of understanding (MoU) to enhance regulatory cooperation and foster cross-border activities. The agreement was


Ibdar Bank exits aviation deals

Bahrain-based wholesale Islamic Investment bank Ibdar Bank has announced the successful exit along with its investors through the sale of five Bombardier Q400 NextGen aircraft for an undisclosed amount. The aircraft were leased to Ethiopian Airlines and RwandAir, a bank statement


Praxair revives $60bn merger talks with Linde

US-based Praxair, a worldwide industrial gases company, has restarted negotiations with Germany’s Linde over a merger that would create a $60 billion industrial-gas giant, two months after previous talks broke down, a report said. Praxair approached Linde last week and nego


GFH Capital appoints new senior executive officer

GFH Capital, a fully owned subsidiary of Bahrain based GFH Financial Group, has appointed  Luay Ahmadi as its senior executive officer to lead the Dubai-based investment bank. In his new role, Ahmadi will take charge of the bank’s operations and will be focused on furt


30 start-ups take part in angel investor summit

About 30 start-ups from the 15 different countries pitched their business concepts at the recently held fifth Mena Angel Investor Summit 2016 in Bahrain. Organised by Tenmou, Bahrain’s first ‘Business Angels’ organization, in strategic partnership with the Bahra


ENBD launches app for ATM-mobile cash transfer

Emirates NBD, a leading bank in the region, today announced an upgrade to its widely used ‘mePay’ service by enabling cash transfers to recipients who are not Emirates NBD customers or do not have a bank account. Via any Emirates NBD ATM or the mobile banking app, cus


Saudi PIF to take 50pc stake in Adeptio

Saudi Arabia’s Public Investment Fund, the kingdom's sovereign wealth fund, will take a 50 percent stake in Dubai-based businessman Mohamed Alabbar's Adeptio investment vehicle, according to a Bloomberg report. The acquisition is part of PIF's strategy to boost


NRIs biggest risk takers in investment

New research has uncovered large differences in the understanding, attitudes and engagement of investors from different nationalities living in the UAE. The report, carried out by financial solutions provider Old Mutual International and investment management firm Quilter Cheviot


$42bn investment potential seen in Oman

Tanfeedh, Oman’s national programme for enhancing economic diversification, recently showcased investment opportunities worth RO 16.3 billion ($42.2 billion) in three sectors in the Sultanate at a recent exhibition. Of this, the private sector contribution is expected to be

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