Monday 24 October 2016

Business confidence up in ME despite low growth

Global business confidence in the Middle East has improved for the second consecutive quarter, despite economic growth in the region being at a 30-year low, according to a new report. However, the regional confidence levels remain low amid slumping growth rates with 44 per cent o


GFH approves settlement of lawsuits

GFH Financial Group (GFH) said it has got approval from its board for settlement arrangements with a series of counterparties related to an undisclosed number of lawsuits, reported the Gulf Daily News, our sister publication. To read further, please visit


Adeptio completes American share buy

Adeptio AD Investments SPC and Al Khair National for Stocks and Real Estate have announced the completion of the sale by Al Khair of all of its shares in Kuwait Food Company (Americana) to Adeptio at a price of KD2.65 per share. Following completion and in accordance with the reg


Bahrain bank Ibdar buys $78m US prime property

Bahrain-based wholesale Islamic investment bank, Ibdar Bank, has announced the successful acquisition of a $78-million multi-family housing property at Montgomery county in Maryland, US, the sixth wealthiest county in Washington DC. The asset, which is a 2001 constructed multi-fa


15,000 leaders for Dubai’s Annual Investment Meeting

The upcoming 2017 edition of Annual Investment Meeting (AIM) in Dubai, UAE is expected to see participation from more than 15,000 participants including heads of states and businessmen and from over 140 countries. The seventh edition of AIM is set to run from April 2-4, 2017, at


Faisal Holding appoints new CEO

Faisal Holding, one of the leading business houses in the Middle East, has announced the appointment of Brett Schafer in the role of chief executive officer. In his new role, Schafer will be providing strategic leadership and management for the group’s diverse portfolio of


UAE nuclear power project closes financing

The Emirates Nuclear Energy Corporation (Enec) and the Korea Electric Power Corporation (Kepco) announced today the formal financial close of the funding for the UAE's Barakah Nuclear Energy Plant project. The fund will be managed by the recently created subsidiary, Barakah O


Al Khaliji posts 9-month profit of $117m

Doha-headquartered Al Khalij Commercial Bank (al khaliji) has posted a net profit of QR425 million ($117 million) for the first nine months of the year. Total assets grew by 6 per cent year-on-year (YOY) reaching QR58.5 billion in the third quarter of the year, while loans and ad


Keypoint holds workshop on Common Reporting Standard

Keypoint, a business consulting and advisory firm based in Bahrain, organised a workshop on Common Reporting Standard (CRS) at Downtown Rotana Hotel, Manama, yesterday (October 19). The workshop focused on key aspects of CRS and provided guidelines to participants on how to make


UAE’s Bebuzzd to offer new loyalty scheme

Bebuzzd, a new multi-store digital loyalty programme, launched by Blackhawk Solutions DMCC, a leading IT company based in Dubai, aims to provide local businesses with a simpler way to manage a cost-effective loyalty programme. The unique system would allow all businesses to be pa

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