Sunday 21 January 2018

Safwa Islamic Bank, MEPS ink co-op agreement

Jordan's Safwa Islamic Bank said it has signed a co-operation agreement with Middle East Payment Services (MEPS), a leading, innovative payment services provider in the Middle East, to issue Mastercard prepaid cards for its clientele. As per the deal, all of Safwa Islamic Bank&rsqu


Iran-China trade growth rate tops 20pc in 2017

Trade exchanges between Iran and China rose by 20.5 per cent in the first 11-month period of the past year, the Chinese envoy to Tehran was quoted as saying in a media report. Speaking at the first international conference on Iran and China relations, Pang Sen said that cooperati


$560m investment made in 260 Mena start-ups in 2017

Last year saw $560 million investment made in 260 start-ups across the Mena region, said a report from MAGNiTT, a major start-up website for entrepreneurs, investors, corporates and founders in the Middle East. 2017 proved to be a record year for the Mena start-up ecosystem, cont


Centurion launches cryptocurrency app

Centurion& Co, a leading investment and advisory firm in the UAE, has launched ConnectJob, the country’s first decentralized app which allows users to pay for a range of services with cryptocurrencies. The recent Dubai International Blockchain Summit (DIBS) gathered sev


Dubai Islamic 2017 net up 11pc to $1.22bn

Dubai Islamic Bank, the first Islamic bank in the world and the largest Islamic bank in the UAE, has posted net profits of Dh4.504 billion ($1.22 billion) in 2017, up 11 per cent compared to Dh4.050 billion ($1.22 billion) for 2016. Total income increased to Dh10.199 billion, up


Emirates NBD AM posts 10pc growth in 2017

Emirates NBD Asset Management (AM) has announced that the value of its assets under management (AUM) grew 10 per cent in 2017 to $ 4.8 billion. The firm recorded nflows of over $1 billion in segregated mandates from top tier clients across the region. Among the funds, greatest as


Dubai's Star Business Centre to accept Bitcoin

The Star Business Centre, offering state-of-the-art fully furnished offices for new investors, business people and those international companies seeking suitable ready-made fully furnished plug-and-play workplaces, has announced that it is now ready to accept cryptocurrencies – especial


Oman to launch $1bn infrastructure fund

Oman’s sovereign wealth fund is planning to start a $1 billion infrastructure fund to boost investment in projects including the Gulf state’s road, transport and energy systems, said a report. The State General Reserve Fund is talking to international banks and potent


Stable outlook for Levant, N Africa sovereigns

Outlook for sovereign ratings in the Levant and North Africa region is broadly stable, reflecting the improved global growth dynamics, ongoing structural reforms, and winding-down of regional conflicts, said Moody’s in a new report.  "The improved global growth dy


Dubai Chamber’s membership hits 217,000

A total of 16,300 companies joined the Dubai Chamber of Commerce and Industry as members in 2017, the group said on Tuesday, bringing its total membership to 217,000, reported Emirates news agency Wam. The non-profit public organisation’s membership figure for 2017

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