Wednesday 18 July 2018

Dubai Chamber posts 106pc rise in international visits

Dubai Chamber of Commerce and Industry has revealed that the number of international delegations it hosted during the first half of this year increased by 106 per cent over the same period last year. The chamber, which represents the interests of Dubai’s business community,


Fewa, CBI partner on bill payment service

The Federal Electricity and Water Authority (Fewa) has signed an agreement with the Commercial Bank International (CBI) under which the bank will provide bill payment services to its customers through its branches within and outside the UAE. The agreement was signed by Sheikha Mu


UAE leads Arab world in Global Innovation Index

The UAE remained in good standing at this year’s edition of the Global Innovation Index (GII) as it ranked number one in the Arab World and ranked 38th globally and 24th in the innovation input pillar, a media report said. In addition, the country also demonstrated an incre


Bahrain records economic growth of over 5pc in Q1

Bahrain’s gross domestic product (GDP) in the current prices grew by 5.1 per cent during the first quarter (Q1) of the year as compared to the same quarter of 2017, the Information & eGovernment Authority (iGA) said in a new report. Meanwhile, Bahrain non-oil sector bea


Bahrain, China ink MoU on Belt and Road project

The foreign ministers of Bahrain and China have signed a memorandum of understanding (MoU) to jointly advance the construction of the Belt and Road project.   The two sides would continue to firmly support each other on issues concerning each others' core in


China offers $20bn loans to Arab states

Chinese President Xi Jinping has announced that his country will provide Arab states with $20 billion in loans for economic development.   He was delivering a speech at the opening ceremony of the eighth ministerial meeting of the China-Arab States Cooperation F


RakBank becomes official bank of FC Barcelona in UAE

The National Bank of Ras Al Khaimah (RakBank) and FC Barcelona have announced a strategic regional partnership for three years extendable by another two years whereby RakBank has become the official bank of FC Barcelona in the UAE. This partnership entails the launch of new FC Ba


Startup accelerator Flat6Labs opens Bahrain office

Flat6Labs, a regional startup accelerator programme and seed investment company, has opened its Bahrain office, supported by Tamkeen, the kingdom’s labour fund. The new premises, located on the 15th floor of the National Bank of Bahrain (NBB) towers, will serve as both a wo


Mena M&A deal value in Q2 hits 8-year high at $34bn

The value of announced M&A transactions with any Mena involvement reached $33.9 billion during the second quarter (Q2) of 2018, 74 per cent more than the value recorded during Q2 2017 and an eight-year high, a report said. Deals with a Mena target reached an all-time high ris


SME share of Dubai GDP at 47pc, workforce at 52.4pc

SME contribution to Dubai's economy rose from 40 per cent in 2009 to 47 per cent in 2016, while their contribution to job creation rose from 42 per cent to 52.4 per cent during the same period, a report said. SME contribution to Dubai's economy rose from 40 per cent in 20

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