Saturday 5 December 2020
 
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Vaccine hopes drive GCC markets and oil prices

All GCC equity markets ended November positively as oil prices jumped by 27% for the month after pharmaceutical firms Pfizer, Moderna and AstraZeneca announced the release and availability of Covid-19 vaccine, a report said. Kuwait Main Market index registered a gain of 1.6% for

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Bank ABC wins best Bahrain bank award for 2020

Bank ABC, a leading international bank in the Mena region, has won the Bank of the Year in Bahrain, award from The Financial Times publication 'The Banker magazine' in recognition for its robust growth strategy, resilient performance and pioneering strides in digital transformation.

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UAE-Swiss bilateral trade hits $21bn: report

With $16.6 billion Swiss investments in the UAE and an annual bilateral trade worth $21 billion, UAE is Switzerland’s most important trade partner in Mena, said Ignazio Cassis. the Swiss foreign minister. "More than 200 Swiss companies are represented in the UAE and ma

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UAE, Australia launch council to boost trade

The first-ever Australia-United Arab Emirates Business Council aimed at deepening bilateral trade and investment and expanding opportunities for Australian and UAE businesses was launched in Sydney yesterday (December 1). Dr Anwar bin Mohammed Gargash, Minister of State for Forei

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5th Belt and Road Summit ends on positive note

More than 6,000 participants from about 80 countries and regions attended the fifth Belt and Road Summit, which concluded yesterday (December 1) on a positive note in Hong Kong. Held under the theme "A Business Vision for a Sustainable and Inclusive Future", the event w

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Bahraini female employees play vital role in Ebdaa bank ops

Ebdaa bank for Microfinancing – Bahrain, revealed that the percentage of female employees in the bank has reached about 60 per cent, while some female employees occupy senior leadership positions, including a branch manager, a financial credit manager, and a loan manager. 

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UK, EMEA non-financial firms get stable Moody's outlook for 2021

Leading ratings agency Moody's has changed its 2021 outlook for the companies in the UK and Europe, Middle East and Africa (EMEA) region to 'stable' from 'negative' based on the expectation that business conditions can’t get any worse and for some sectors might actua

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Non-oil to drive Mena growth to 3.6% in 2021: study

The Mena region will see an economic growth of 3.6% in 2021 and 4.0% in 2022, most of which will be driven by the non-oil sector as oil prices are unlikely to rise significantly in the near future, a report said. The most promising sectors to help drive growth include education,

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S&P Global to acquire IHS Markit for $44 billion

Business information provider S&P Global and analytics leader IHS Markit have entered into a merger agreement to combine in an all-stock transaction which values IHS Markit at an enterprise value of $44 billion, including $4.8 billion of net debt. The transaction brings toget

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Saudi economy picks up after pandemic contraction

Saudi Arabia’s GDP is expected to decline by 4.2% year-on-year (y-o-y) in the third quarter (Q3) of 2020 as compared to -7% y-o-y in Q2 2020, indicating an improvement and recovery of the economy from the pandemic, a report said. On a seasonally adjusted quarterly basis, GD

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