Wednesday 25 May 2016
 
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Bahrain sovereign fund net profit drops 68.7pc

Bahraini sovereign fund Mumtalakat reported a 68.7 percent drop in 2015 net profit on Sunday, as the state-owned investor cited impairment losses for the decline. Net profit in 2015 was $76.3 million against $243.6 million in the previous year, Mumtalakat said in a statement.

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NCR offers innovative Power Advantage solution

NCR Corporation, a global leader in omni-channel solutions, has announced the introduction of Power Advantage, an innovative portfolio of power solution to help financial institutions improve ATM availability, reduce operational expenses and efficiently manage a broader range of equipments.

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IIB posts profit in Q1

International Investment Bank (IIB), a globally focused sharia-compliant investment bank based in Bahrain, posted a net profit attributable to equity holders of $0.24 million for the three month period ended on March 31, compared to a net loss of $2.4 million in Q1 2015.  

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UAE's e-Dirham wins top global certification

The e-Dirham system, launched and managed by the Ministry of Finance (MoF) in partnership with the National Bank of Abu Dhabi, recently received the Certification of Compliance in Payment Card Industry Data Security Standard (PCI DSS). This certification conferred by Trustwave Holdings

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Saudi Arabia 'mulls bond-like tools to pay contractors'

Saudi Arabia is considering using IOUs (I-owe-you) model to pay outstanding bills with contractors and conserve cash, said a report, citing key sources. As payment from the state, contractors would receive bond-like instruments which they could hold until maturity or sell on to b

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US, Japan FX row overshadows G7 meeting

The United States issued a fresh warning to Japan against competitive currency devaluation on Saturday, exposing a rift on exchange-rate policy that overshadowed a Group of 7 finance leaders gathering hosted by the Asian nation. Japan and the US are at logger-heads over currency

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Russia repays $1.7bn Soviet-era debt to Kuwait

Russia has repaid Soviet-era debt to Kuwait of $1.72 billion, the Russian finance ministry said on Friday. The principal debt stood at $1.1 billion, while interests amounted to $620 million, it said. The Soviet Union raised the debt in its dying days in 1991 to pay for "crit

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Bahrain-Germany trade up

Bahrain-Germany bilateral trade increased to $496.4 million last year from $453.3 million in 2014, German Ambassador Alfred Simms-Protz told a business meeting yesterday (May 19), according to a report in the Gulf Daily News, our sister newspaper. To read further, please visit

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G7 may agree on 'go-your-own-way' approach

A rift on fiscal policy and currencies is likely to set the stage for G7 advanced economies to agree on a "go-your-own-way" response to address risks hindering global economic growth at their finance leaders' gathering on Friday. As years of aggressive money printin

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Qatar First Bank launches new private banking platform

Qatar First Bank, a leading Shari’ah compliant bank in Qatar, has developed a new open architecture private banking platform which allows shareholders and clients to grow, manage and protect their wealth and assets. Supported by an extensive international network of partners, QFB

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