Wednesday 2 September 2015

UAE growth seen at 3.9pc this year

The UAE’s gross domestic product (GDP) growth in 2015 is expected to reach 3.9 per cent thanks to more established diversification efforts, while many Middle East states will see lower growth caused by the plunging oil price, according to a study. Diversification of the eco


Qatar set to launch wage protection system

Qatar’s Ministry of Labour will announce the official launch of Wage Protection System (WPS) tomorrow, a report said. The system aims to pay all private sector workers salaries online through banking channels, added The Peninsula report. Qatar had ea


SABB named 'best consumer internet bank' in Saudi

The Saudi British Bank (SABB) has been named the best consumer internet bank and the best corporate/institutional internet bank in Saudi Arabia this year by the Global Finance magazine recently.   SABB won the two awards after being chosen by a world-class panel


US-Saudi forum to highlight investments

The Saudi Arabian General Investment Authority (Sagia) and the US-Saudi Business Council will host a forum in Washington, DC on Friday to highlight investment opportunities in the Kingdom, a report said. The US-Saudi Investment Forum, held in collaboration with the Council of Sau


Ithmaar staff undergo leadership grooming programme

Three senior Bahraini Ithmaar Bank employees joined their peers from other Islamic banks across the kingdom to attend an intensive leadership grooming programme. The course has been designed to help develop the next generation of C-suite executives, said a report in the Gulf Daily News (G


Turkish firm closes $106m loan facility

Turkey’s Yapı Kredi Leasing has closed a $106 million syndicated loan arranged by Bahrain-based Bank ABC and HSBC, it was announced yesterday. The two-year syndicated loan will be used by Yapi Kredi Leasing for general corporate and financing purposes. Bank ABC is acting as the agent, s


BCCI delegation seeks to boost Jordan trade ties

A high-level delegation from the Bahrain Chamber of Commerce and Industry (BCCI), led by first vice-chairman Othman Alrayes, is participating in the Gulf-Jordanian Economic Forum. Being held in the Jordanian capital Amman, the two-day forum starts today (September 2), said a report in the


MEPS inks partnership deal with Jordan Post

Middle East Payment Services (MEPS), a top payment services provider in the Middle East, has signed a partnership agreement with the Jordan Post, whereby it will provide all post offices across the Kingdom with point-of-sale devices. This step will allow Visa and MasterCard holde


DGCX records 35pc growth in trading volumes in August

Dubai Gold and Commodities Exchange (DGCX) has recorded a 35 per cent growth in monthly trading volumes, with an all-time high in two years of more than 1.5 million contracts.   The increased volatility in global markets over the past month led to this trading v


DFM picks Avaya for networking solution

The Dubai Financial Market (DFM), the leading exchange in the region, has selected Avaya’s SDN FX fabric networking technology for its ability to effectively and efficiently cater to day-to-day needs. The solution will also offer the convenience of scalability to grow and p

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