Wednesday 18 January 2017

Bahrain to host sixth GCC Financial Forum

Euromoney Conferences, the world’s leading organiser of conferences for cross-border investment and capital markets and co-host, the Bahrain Economic Development Board (EDB), have announced the return of the GCC Financial Forum. The sixth annual event, which has grown to be


Saudi growth to decline this year: IMF report

Saudi Arabia is expected to see a decline in growth to 0.4 per cent in 2017, compared with a growth of 1.4 per cent in 2016, an IMF report said. The kingdom is expected to grow at 2.3 per cent in 2018. The Middle East, North Africa, Afghanistan and Pakistan region is also expecte


Microsoft hosts roundtable on digital transformation

Microsoft recently hosted a leadership roundtable on the potential value returns digital transformation can bring to the financial services industry in partnership with the Bahrain Association of Banks (BAB). The event gathered leaders from banking and capital-markets to hear how


Meftech to feature global fintech experts

Meftech, the region’s most prestigious financial technology exhibition upcoming in Abu Dhabi,UAE has announced a trio of global thought leaders as headline speakers. Chris Skinner, CEO of Balatro Ltd, Jim Marous, owner of the Digital Banking Report and JP Nicols, bank innov


UAE ‘second largest FDI recipient in W Asia’

The UAE was the second largest FDI recipient in the West Asia region in 2015, after Turkey, according to the FDI report set to be released by   Abu Dhabi Global Market (ADGM) at the upcoming Annual Investment Meeting (AIM) 2017 in Dubai. “ADGM is pleased to be par


N Africa stable outlook ‘reflects reform momentum’

The stable outlook for sovereign creditworthiness in the Levant and North Africa in 2017 reflects the lower for longer energy price environment as well as the reform momentum in the region, despite political and security headwinds, says Moody's Investors Service. "Improv


EY creates borderless advisory services

EY, leading global professional services organisation, has announced the creation of borderless advisory services for its clients across Africa, India and the Middle East (AIM) region. Led by Gerard Gallagher, the newly appointed EY AIM advisory leader, EY has created a leadershi


GCC real GDP growth to stay weak this year: Moody's

The real GDP growth in the GCC in 2017-18 is likely to remain weak by historical standards with an average of 1.6 per cent and ranging from 0.7 per cent for Saudi Arabia to 3.3 per cent for Qatar, a Moody's report said. The negative outlook for sovereign creditworthiness in 2


Emirates Islamic income hits $680m in 2016

Emirates Islamic, one of the fastest growing banks in the UAE, said its total income (incuding the net of customers’ share of profit and distribution to Sukuk holders) for 2016 surged three per cent to Dh2.5 billion ($680.4 million). Announcing its full-year financial resul


Emirates NBD posts $1.97 billion net profit

Emirates NBD, the UAE’s largest lender, posted a net profit of Dh7.24 billion ($1.97 billion) for the financial year 2016, up 2 per cent compared to the previous year. However, the total income declined 3 per cent y-o-y to Dh14.7 billion, mainly due to lower non-interest in

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