Thursday 25 April 2019
 
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China’s Wonder News launches regional HQ in Bahrain

Chinese technology group Wonder News has launched its regional headquarters in Bahrain, which will offer services to GCC clients in the e-commerce and FinTech sectors. Wonder News will invest $50 million and offer 500 employment opportunities in the Kingdom over the next three ye

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Dubai issues 7,418 business licences till mid-April

Dubai government has announced that the number of licences issued to new businesses registered in the emirate rose 3 per cent since December 2018. With this the total number of licences issued from the start of 2019 to April 15 has reached 7,418, reported state news agency Wam, citing

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Gulf Insurance Group – Kuwait picks Beyontec Suite

Beyontec, a global insurance information and technology solutions provider, said it has been selected by Gulf Insurance Group Kuwait (gig-Kuwait) to implement its core solution, Beyontec Suite, across the company's general, group life, finance and ERP modules. A major player

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Al Salam Bank, AFS launch first digital payroll solution

Al Salam Bank-Bahrain (ASBB), the pioneering shari’a-compliant bank in the kingdom, has joined hands with Arab Financial Services, the region’s leading FinTech enabler and payment services provider, for the official launch of the first digital payroll solution ‘Al Rateb.&rsquo

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Trade Bank of Iraq opens first Saudi branch

The Trade Bank of Iraq (TBI) has opened a new branch in Saudi Arabia, making it the first international outlet and the only active Iraqi branch in the kingdom. The new branch was inaugurated by Dr Fuad Hussein, deputy prime minister and finance minister of Iraq.  

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Investcorp buys prime office property in Frankfurt

Investcorp, a leading global provider and manager of alternative investment products, has announced that its London-based real estate investment team has acquired Lyoner Stern, a multi-let office building located in Frankfurt, Germany. This is Investcorp’s third real estate

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CBD net profit increases 21.6pc in Q1

Commercial Bank of Dubai (CBD) reported a 21.6 per cent year-on-year net profit increase in Q1-2019 on the back of higher revenues, said a report. The net profits of the UAE’s lender rose to Dh340 million ($92.55 million) in Q1-19 from Dh280 million ($76.23 million) during

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Three top Egypt firms set up mortgage finance JV

TMG, GB Capital and EFG Hermes finance, three of Egypt’s publicly traded companies, have entered into an agreement to create a mortgage finance joint venture.   The new partnership will offer long-term and competitive mortgages for new move-in homes, incre

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UAE’s GDP to grow 4.7pc to $455bn in 2019: IMF

The International Monetary Fund (IMF) has forecast the UAE’s nominal Gross Domestic Product (GDP) to grow 4.7 per cent to Dh1.673 trillion ($455 billion) in 2019, compared to Dh1.589 trillion a year ago. The GDP growth is reflective of the economic diversification efforts m

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CBD net profit up 21.6pc to $92.5m in Q1

Commercial Bank of Dubai (CBD) has reported a 21.6 per cent year-on-year net profit increase in Q1-2019 on the back of higher revenues. Net profits of the UAE’s lender rose to Dh340 million ($92.5 million) in Q1-19 from Dh280 million ($76 million) during corresponding perio

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