Thursday 20 September 2018

Foreign investments in Bahrain jump to $810m

International investments in Bahrain has reached $810 million till now this year, a significant increase from $733 million recorded during the whole of 2017, it has been revealed.   The figures were revealed at a board meeting of the Bahrain Economic Development


Saudi Arabia to auction real estate owned by Al-Sanea: report

Saudi Arabia will auction real estate owned by indebted billionaire Maan Al-Sanea and his company starting next month to help repay billions of riyals due to creditors,


Al Salam Bank upgrades mobile solution

Al Salam Bank-Bahrain (ASBB), a leading Shari'a-compliant bank in Bahrain, has launched its new and upgraded mobile banking solution with India-based Clayfin's Mobile Banking Solution to offer a superior mobile user experience. The new mobile banking app has also ensured


Abu Dhabi DED kicks off dual licence initiative

The Abu Dhabi Department of Economic Development (ADDED) has launched the first phase of its Dual Licenses Initiative, which enables companies to both operate in the emirate's free zones and carry out their commercial activities onshore in Abu Dhabi, Al Ain and Al Dhafra. The


Abu Dhabi non-oil foreign trade hits $21.8bn in H1

Abu Dhabi's non-oil foreign trade during the first half (H1) of the year amounted to Dh80.1 billion ($21.8 billion), with the month of June recording a growth of 30 per cent, a media report said. The emirate's non-oil exports stood at around Dh11.08 billion during H1, up


Bahrain-origin exports soar 58pc to hit $605m

The value of Bahrain-origin exports increased by 58 per cent as it reached BD229 million ($605 million) during July versus BD145 million for the same month of 2017, the Information & eGovernment Authority (iGA) said in its latest foreign trade report. The top ten countries ac


UAE cabinet approves power tariff cut for industrial sector

The UAE Cabinet, chaired by HH Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, has adopted a resolution to support the industrial sector by introducing reduced fees of electricity consumption for large, medium and small factories, reported state new


Emirates Development Bank wins top Fitch rating

The Emirates Development Bank (EDB) said it has become the first fully-owned federal institution to receive a AA- rating from Fitch, thus indicating the Emirati group's financial position and credit strength. The Emirati group's loan portfolio exceeds Dh1 billion ($272 million)


Emirates NBD expands Saudi branch network

Emirates NBD, a leading banking group in the Middle East, has expanded its presence in Saudi Arabia with the opening of its branch in Khobar in the Eastern Province.    Emirates NBD now covers three key regions in Saudi Arabia with presence in Riyadh, Jedda


UAE federal budget increased by $536m

The UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a federal decree-law approving additional funding to general federal budget of about Dh1.969 billion ($536 million).   The decree-law stipulates that the estimated general budget expens

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