Tuesday 24 January 2017

UAE Exchange wins Service Olympian Award

Global remittance, foreign exchange and payment solutions brand UAE Exchange has won the Service Olympian Award 2016 under the Best Customer Experience Measurement category. The award is in recognition of the brand’s commitment towards continuous improvement in enhancing th


Qatar al khaliji's operating income soars to $329m

Qatar-based Al Khalij Commercial Bank (al khaliji) said its net operating income for 2016 soared to QR1.2 billion ($329 million), up one per cent over the previous year despite various global economic challenges. Announcing the results, the Qatari bank said its net profit hit QR4


UBS in bid to mobilise private wealth for public good

UBS, a top asset manager and investment bank, recently presented a white paper titled Mobilizing private wealth for public good at the World Economic Forum (WEF) Annual Meeting 2017 in Davos, Switzerland. UBS believes that this is a critical element of responsive and responsible


Mideast business confidence drops amid global uncertainty

Business confidence in the Middle East remained subdued in Q4 2016, with 51 per cent of firms reporting that they feel less confident about the future, according to a report. The latest Global Economic Conditions Survey from ACCA (the Association of Chartered Certified Accountant


Mideast debt issuance hits $77bn, highest since 1980

Middle Eastern debt issuance reached $77.8 billion in 2016, a 145 per cent increase compared to the value raised during 2015 and by far the highest annual total in the region since records began in 1980, said a report from Thomson Reuters, a leading source of intelligent information for busines


Arab Palestinian Investment Co issues $35m bonds

Arab Palestinian Investment Company (APIC) has issued new five-year bonds with a total nominal value of $35 million in a private subscription with the participation of nine banks and companies from Palestine, Jordan and Bahrain. APIC's general assembly recently approved the i


Bahrain origin goods exports top $1.1bn

Bahrain’s non-oil trade deficit, or the difference between value of imports and exports, was BD597 million ($1.57 billion) for the fourth quarter last year, shows the latest data from the Information and eGovernment Authority (IGA), reported the Gulf Daily News, our sister public


Sico, Trucial in US property fund partnership

Bahrain’s Securities & Investment Company (Sico) has entered into a strategic partnership with Dubai-based Trucial Investment Partners, an asset management and advisory to manage a US real estate fund. The partnership was signed by Sico chief executive Najla Al Shirawi


Low oil slows Kuwait’s non-oil expansion: IMF

Economic activity in Kuwait’s non-oil sector continued to expand in 2016, albeit at a slower pace, reflecting the impact of lower oil prices, said an IMF report. Non-hydrocarbon growth slowed from 5 per cent to an estimated 3.5 per cent in 2015, as higher uncertainty weighe


Consumer experiences drive spending at DSF

Consumer spending on experiences, rather than more traditional sectors like fashion retail and luxury goods, saw the biggest growth during the first two weeks of Dubai Shopping Festival (DSF), said  Visa, a payments technology company. An increasing number of consumers are u

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