Monday 17 December 2018
 
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GCC banking outlook for 2019 stable: Moody's

The outlook for Gulf Cooperation Council (GCC) banking systems remains stable, reflecting their improving operating conditions, weakening but still, solid loan performance and strong capital, Moody's Investors Service said in a report.   Moody's 2019 Out

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Bahrain cbank issues final rules on open banking

The Central Bank of Bahrain (CBB) today (December 6) issued the final rules on “open banking”, which will facilitate the provision of a variety of innovative services for bank customers in the kingdom. Khalid Hamad, the executive director of Banking Supervision at the

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Apple co-founder Steve Wozniak to speak at Bahrain forum

Steve Wozniak, co-founder of Apple, has been announced as the keynote speaker of the eighth annual GCC Financial Forum, to be held in Bahrain in February.    The forum, co-hosted by Euromoney and the Bahrain Economic Development Board (EDB), will focus on t

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DGCX wins ‘EMEA Exchange of the Year’ award

The Dubai Gold & Commodities Exchange (DGCX) has been named for the first time ‘EMEA Exchange of the Year’ at the Future & Options World (FOW) Global Investor Awards 2018 held recently in London, UK. The exchange was carefully selected from a pool of internati

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Egypt firms see easing of cost inflation pressure

Cost inflationary pressures at Egyptian private sector firms eased to record low in November, according to latest data from the Emirates NBD Purchasing Managers’ Index (PMI) for Egypt. The survey, sponsored by Emirates NBD and produced by IHS Markit, contains original data

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Price discounting drives growth in UAE non-oil

The UAE’s non-oil private sector saw both output and new work rise at a faster rate last month than October, backed by steep price discounting and other marketing efforts to support domestic demand, according to latest data from the Emirates NBD Purchasing Managers’ Index (PMI) for

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Saudi Arabia's non-oil growth hits 11-month high

Saudi Arabia’s non-oil private sector witnessed its fastest growth rate in 11 months in November, according to the latest data from the Emirates NBD Purchasing Managers’ Index (PMI) for the kingdom. The survey, sponsored by Emirates NBD and produced by IHS Markit, a w

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BenefitPay now on 800 Sadad kiosks

Benefit, an ancillary service provider to Bahrain’s financial services industry, and Sadad, a leading electronic payment channel, have announced the launch of BenefitPay service on Sadad self-service kiosks.   BenefitPay is a national electronic wallet pay

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‘King of Disruptors’ to speak at Bahrain FinTech forum

Four times bestselling author, futurist and world-renowned expert on the future of global banking, Brett King will be a keynote speaker at the 3rd Middle East & Africa FinTech Forum, the region’s premier FinTech conference, being held in Bahrain.   

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VAT implementation in Bahrain: Understanding the fundamentals

It has been nearly a year since the rollout of VAT in the UAE and Saudi Arabia, with Bahrain set to join them on January 1, 2019.    When the six Gulf Cooperation Council (GCC) members signed the Common VAT Agreement of the States of the GCC in 2017, they a

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