Saturday 15 August 2020

Slowdown, oil prices hit Bahrain govt H1 revenues

Bahrain’s ministries and government agencies have indicated a revenue of BD910 million ($2.39 billion) during the first half of the year (H1), a decrease of 29% in comparison to the same period last year, according to a new report. Due to low oil prices, oil revenue decreas


Dubai Exports shortlisted for global trade award

Dubai Exports, the export promotion agency of Dubai Economy, has been shortlisted for the World Trade Promotion Organisations Awards (WTPO Awards 2020) by the International Trade Centre (ITC), a joint agency of the World Trade Organisation and the United Nations. Dubai Exports wi


Nasdaq, DGCX sign technology agreement

Nasdaq and Dubai Gold & Commodities Exchange (DGCX) today announced an agreement under which Nasdaq to provide DGCX with a full suite of integrated marketplace solutions.   The marketplace solutions, delivered via the Nasdaq Financial Framework, include mult


Mashreq sukuk fund surpasses $150m in AUM

Dubai-based Mashreq Capital said that its Mashreq Al Islami Income Fund (Sukuk Fund) has surpassed $150 million in assets under management (AUM), and is now one of the top five largest public global Sukuk funds in the region. Mashreq Capital is the fund manager and investment man


DIFC gets record 620 applications for fintech accelerator

DIFC FinTech Hive, the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region, has attracted an unprecedented 620 global, regional and local applications for the signature programme. The 620 applications for the intake, exceeds


SABB’s ‘Waafer’ voted product of the year

The Saudi British Bank (SABB) Waafer saving account has won the Product of the Year Award for 2020 in Saudi Arabia.    The award is based on a consumer survey conducted by POY, the largest consumer-voted award for product and innovation.  


UAE highlights public-private sector partnerships

A recent meeting between the UAE Ministry of Economy and Dubai Chamber has highlighted the importance of the partnership between the public and private sectors, describing it as a pillar for the country's economic plans. The meeting, which was held at the Dubai Chamber, was a


Abu Dhabi 2020-2025 strategic plan reviewed

The Abu Dhabi Department of Economic Development’s (ADDED) Strategic Plan 2020-2025, which focuses on sustainable economic development, has been reviewed by Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of the Executive Council and Chairman of the Abu Dhabi Executive Office.


Govts urged to use public sector balance sheets

Governments must use public sector balance sheets to properly manage their finances through the pandemic, paying attention to their public sector net worth, said a new report. For some, this means a change in accounting methods from cash to accrual accounting, added the report ti


Sheraa, CE-Ventures grant $190,000 to 11 startups

Sharjah Entrepreneurship Center (Sheraa) and CE-Ventures have disbursed more than AED700,000 ($190,560) in equity-free grants to 11 startups, offering them an opportunity to navigate current economic challenges. The 11 selected startups operate in the retail, real estate, fintech

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