Friday 22 November 2019

Investcorp kicks off Investors Conference in Bahrain

Bahrain-based Investcorp, a leader in alternative investments, opened its Investors Conference today under the patronage of HRH Prince Salman Bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister. A gala dinner at the Four Seasons Hotel,


Misk Foundation signs partnership with Hub71

Saudi Arabia’s Misk Foundation, a non-profit philanthropic foundation, has signed an agreement with Hub71, Abu Dhabi’s global tech ecosystem, towards creating a more dynamic market for startups between Saudi Arabia and the UAE. The memorandum of understanding (MoU) wa


Dubai-China trade grows 81pc in 10 years

China is Dubai’s top strategic partner with 81 per cent growth in trade in the last ten years to make Dh139 billion ($37.8 billion) in 2018 compared to Dh77 billion in 2009, said Ahmed Mahboob Musabih, director general of Dubai Customs. Musabih  was speaking during dis


CBI reports 48.5pc fall in net profit for 9 months

UAE-based Commercial Bank International (CBI), a corporate and retail bank, has posted a net profit of Dh72.6million for the nine months ending September 30 compared to Dh141 million prior year, a decline of 48.5 per cent. Net operating income decreased by 7 per cent to Dh576 mil


DME posts 21pc rise in exchange trading volume

Dubai Mercantile Exchange (DME), a top energy futures exchange, has recorded a 21 per cent increase year-on-year in exchange trading activities, along with 172 per cent increase in forward curve trading in October. In 2019, DME registered an average daily volume of 5.97 million b


Digital economy 'will raise Bahrain's GDP'

The transformation towards the digital economy in Bahrain is conducive to economic growth, higher GDP, and higher GDP per capita for Bahrainis, says Bahraini businessman Yacoub Al-Awadhi.   He stressed that digital transformation may have a positive impact on fi


ICE, Adnoc to launch crude oil futures exchange

Intercontinental Exchange (ICE), a leading operator of exchanges, and Abu Dhabi National Oil Company (Adnoc) have partnered with nine global energy traders are on the launch of ICE Futures Abu Dhabi, a new exchange in Abu Dhabi Global Market (ADGM) that will host the world's first Murban cr


Consumer spend in Islamic economy sectors hits $2.2trn

Muslims spent $2.2 trillion in 2018 across the food, pharmaceutical and lifestyle sectors that are impacted by Islamic faith-inspired ethical consumption needs, said the State of the Global Islamic Economy Report (SGIE) 2019/20. Launched by Dubai Islamic Economy Development Centr


Ithmaar Bank reports increase in profit

Ithmaar Bank, a Bahrain-based Islamic retail bank, announced today increased profits for the nine-month period ending September 30 this year as the bank continues its focus on customer-centric growth.   The announcement, by Ithmaar Bank chairman Prince Amr Al Fa


Investcorp to host Investors Conference in Bahrain

Investcorp, a leading global provider and manager of alternative investment products, will hold its 2019 Investors Conference in Bahrain on November 13 and 14, with over 250 investors attending from the GCC.    The conference will explore the shape and dept

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