Wednesday 19 February 2020

BisB appoints three new board members

Bahrain Islamic Bank (BisB) recently announced the appointment of three new board members, Jean-Christophe Durand, Yaser AlSharifi, and Dana Buheji, following the decision of the Board of Directors during its meeting held last week.   Commenting on the occasion,


STEP Conference ends with $167m of funding deals

The 9th edition STEP Conference, the leading technology festival for emerging markets, has concluded in Dubai with over Dh600 million ($163 million) worth of funding deals announced between companies, regional and homegrown startups. The two-day event held under the theme of &ldq


Emirates NBD launches solution for buying used cars

Emirates NBD, a leading banking group in the region, has launched Autoswap, a first-of-its-kind auto loan buyout product that provides a convenient and hassle-free financing solution for individuals seeking to buy used cars. Launched in partnership with dubizzle, the leading clas


Mandatory medical insurance spurs hiring Dubai

Healthcare providers in Dubai are hiring more specialised staff to deal with insurance-related issues since the mandatory medical insurance law came into effect, and the number of health policyholders has multiplied, an expert said. “With more than 5.1 million insurance pol


DP World to return to private ownership

DP World's parent company Port and Free Zone World has offered to acquire the 19.55 per cent of DP World's shares traded on Nasdaq Dubai, returning the company to private ownership.   The move will enable DP World to focus on its medium-to-long-term stra


ISO-level halal standards ‘key to Islamic economy’

International Halal Accreditation Forum (IHAF) has highlighted the importance of developing ISO-level halal standards to capitalise on the Islamic economy, which is projected to reach Dh11.7 trillion ($ 3.2 trillion) by 2024, according to the Global Islamic Economy Report 2019/2020.


UAE banks post record $12.6bn net profit in 2019

A total of 18 out of 19 national banks and financial companies in the UAE have announced an increase in their total net profits to Dh46.47 billion ($12.65 billion) an increase of 11.6 percent compared to Dh41.63 billion in 2018. The figures showed that the banking sector accounte


BisB inks partnership deal with Bahrain Polytechnic

Bahrain Islamic Bank (BisB) said it has signed a MoU with Bahrain Polytechnic in line with its efforts to promote education and innovation.   Through the mutually beneficial partnership, BisB and Bahrain Polytechnic will embark on a combination of initiatives wh


Ithmaar Holding's 2019 net profit surges 21.3pc

Bahrain-based an investment firm Ithmaar Holding has registered a net profit of $12.20 million for the year ended December 31, 2019, up 21.3 per cent over $10.06 million the previous year.    The announcement was made by Ithmaar Holding Chairman Prince Amr


67 UAE-listed firms net $20.5bn in profits for 2019

Consolidated net profits of 67 companies listed on the UAE's two financial markets - Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) - reached Dh75.56 billion ($20.5 billion) in 2019, up 16.9 per cent over the previous year.   Following

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