Tuesday 15 June 2021

Mashreq Bank partners with Emirates Skywards

Mashreq Bank has announced a new partnership that offers Mashreq customers the ability to convert their Salaam rewards into Skywards Miles.    Customers of leading UAE financial institution, Mashreq, can earn reward points on transactions using eligible Mas


Clearstream, Edaa to boost access to Saudi capital market

Clearstream, the post-trading services provider of Deutsche Börse Group, will connect the Saudi capital market to its network through a linkage with the Securities Depository Center Company (Edaa), a company fully owned by Saudi Tadawul Group. Edaa also operates and maintain


AFS supports digital economy through AFS Go!

Arab Financial Services (AFS) has launched AFS Go! — a new digital solution bundle to support the growth of micro, small and medium enterprise (MSME) businesses in Bahrain.   The set of digital tools help simplify business operations, reach more customers,


Shuaa sells Khaleeji Commercial Bank's stake to GFH

Shuaa Capital, the leading asset management and investment banking platform in the region, has announced that it has sold its 3.8% stake in Khaleeji Commercial Bank (KHCB), totaling 34.6 million shares, to GFH Financial Group, a leading regional financial group with major interests in asset m


Global economy to grow fastest in 40 years in 2021: EI

The global economic outlook has improved since the first quarter (Q1) of 2021 with the global real GDP growth this year now expected to be the fastest in more than 40 years at 5.8%, followed by 4.5% growth in 2022, said market research company Euromonitor International (EI) in a new report.


Burgan Bank to distribute 5 fils cash dividend, 5% stocks

Burgan Bank, the third largest bank by assets in Kuwait, has announced that it has won shareholders' approval for the distribution of cash dividends of 5 fils per share and 5% stock for the financial year 2020.   The announcement was made at Burgan Bank'


Dubai SME signs MoU to support entrepreneurs

The Hamdan Innovation Incubator (HI2) in Dubai SME has signed an agreement with the International Consultant Law Office (ICLO) to provide competitive and specialised legal consultancy to SMEs and creative entrepreneurs. The memorandum of understanding (MoU) reflects its keenness


Eazy appoints Aloqab as Head of Innovation

As part of its ongoing efforts to develop its talent base and continue to build upon its experienced executive team, Eazy Financial Services, a leading Bahraini digital payment service provider, recently announced the appointment of Abdulla Aloqab as Head of Innovation.  


GCC banks’ profits surge 62% to $8.4bn in Q1

GCC banking sector net profits witnessed remarkable recovery during the first quarter (Q1) of 2021 with profits reaching $8.4 billion, up 62% year-on-year (y-o-y) and 14.2% sequentially backed by growth across the region, a report said. Out of 59 banks in the region, merely six r


Bank of Sharjah posts FY2020 net profit at $84m

Bank of Sharjah has posted a net profit for its UAE operations of AED309 million ($84 million) during financial year (FY) 2020 and a net consolidated Group profit (before exceptional non-cash adjustments) of AED176 million. At its recent virtual Annual General Meeting the Bank pr

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