Thursday 29 January 2015

Innovation transfer FDI to achieve sustainable development

Foreign direct investment based on innovation and technology transfer to achieve sustainable development will be the focus of a  meeting to be held in Dubai in March. The fifth edition of the Annual Investment Meeting (AIM), organised by the UAE Ministry of Economy, will run


New plan aims to boost investment in Saudi

A new plan aims to transform Saudi Arabia’s investment landscape by further diversifying the economy, building its knowledge base, creating job opportunities and maintaining the ease of doing business in the kingdom. The Unified Investment Plan was presented by Abdullatif A


Citi Bahrain launches rewards programme

Citi Bahrain has launched a rewards programme giving its local credit card customers access to merchandise from across the globe. These include product catalogue redemptions, airline/hotel points transfer capabilities and end-to-end travel bookings online, said a report in the


Key Tenmou-backed app raises $300,000 funding

Tenmou, Bahrain's first 'Business Angels' company, has announced that 'eat' - an app that allows users to create restaurant reservations online, has raised $300,000 in the second round of funding. With this additional capital, 'eat' has raised a total


Key financial system helps avoid budget overspending

Bahrain’s Finance Ministry has said its Central Financial System (CFS) enables the avoidance of spending that exceeds allocated budgets. In a statement, the ministry said other benefits of the system include cost savings, avoiding duplicate data entry and providing a centra


BBK plans bond issue to refinance $500m debt

BBK, formerly known as Bank of Bahrain and Kuwait, is planning its first debt issue since 2010 to refinance an existing $500 million bond maturing in October, its chief executive said on Wednesday. The offering by Bahrain's fourth-largest bank by assets will have a lifespan o


First Gulf Bank Q4 net profit up 13pc

First Gulf Bank, the third-largest lender in the UAE by assets, beat analysts estimates on Wednesday after posting a 13 per cent rise in fourth-quarter net profit. It was helped by setting aside significantly less cash for bad loans. The last major bank in the UAE


NBAD Q4 net profits surge 28pc to $373m

National Bank of Abu Dhabi (NBAD), the largest lender by assets in the UAE, reported a 27.6 per cent rise in fourth-quarter net profit on Wednesday on higher fee income and lower impairments. Banks in the United Arab Emirates (UAE) have enjoyed a strong reporting period, with len


Kuwait freezes assets of former AUB chairman

Kuwaiti authorities have reportedly issued orders to freeze the property and assets of the former head of a Bahraini bank, a report said. It was reported yesterday that former Ahli United Bank (AUB) chairman Fahad Al Rajaan had resigned from his position for 'personal reasons


StanChart Bahrain names head of CIC

Standard Chartered Bank Bahrain has appointed Abdulla Abdulrazaq Bukhowa as head of corporate and institutional clients (CIC) in addition to his role as head of financial markets. Bukhowa is the first Bahraini in this position, where he will be responsible for the overall managem

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