Sunday 20 April 2014

HSBC-Gulf Air launch service promotion

HSBC Bahrain and Gulf Air, the national airline of the kingdom, have renewed their agreement to provide customers with an enhanced, value-added travel experience through a joint promotion. Valid until December 31 this year, the joint promotion entitles all HSBC credit cardholders


Bahrain in move to boost S Korea trade ties

Bahrain’s Economic Development Board (EDB) is hosting a delegation of South Korean journalists from various high profile publications including financial ones to promote investment opportunities with Seoul. It includes publications, such as JoongAng Ilbo, Maeil Business New


NBB profit surges 12pc to $44.2m in Q1

The National Bank of Bahrain (NBB) posted a 12.1 per cent increase in net profit at BD16.62 million ($44.20 million) for the first quarter of the year, compared with BD14.83 million for the corresponding period of the previous year. The financial results were approved at the boar


Al khaliji launches ‘Premium Banking’ in UAE

Al Khaliji France, a wholly-owned subsidiary of Qatar-based Al Khalij Commercial Bank, has launched its ‘Premium Banking’ service to premium customers in the UAE.   Al khaliji France’s Premium Banking is a service-led proposition which delivers


Expert presents new mobile payment system

An expert presented a new system at a New York summit aimed at achieving the universal acceptance of mobile payment to increase its utilisation.   Mobile payment expert Sammy Tuffaha affirmed the imperative need for the standards unification of mobile payment ac


UAE Exchange, India bank ink remittance deal

UAE Exchange, the leading global remittance and foreign exchange brand, has tied up with Punjab National Bank (PNB) to enable Indian expatriates, who have an account in PNB, to credit money in their accounts in real-time. Dr B R Shetty, MD & CEO, UAE Exchange, said: “UA


Samba Q1 profit rises 7pc as costs drop

Samba Financial Group, Saudi Arabia's third-largest bank by market value, posted a 7.1 percent rise in first-quarter net profit on Tuesday, beating analyst forecasts as operating expenses fell. The bank said it made a profit of 1.24 billion riyals ($330.64 million) in the thr


IMG Theme Park gets $327m Islamic loan

Dubai-based entertainment venue IMG Theme Park has successfully closed a 1.2 billion dirham ($327 million) syndicated Islamic facility, as the company prepares for an increase in the influx of tourists into the emirate. Proceeds will go towards refinancing an existing corporate f


Global economic growth 'facing challenges'

The global economy is taking a turn for the better, but its slow recovery must be taken into account, particularly in advanced economies, said Finance Minister and Minister in charge of Oil and Gas Affairs Shaikh Ahmed bin Mohammed Al Khalifa. He said this in a statement to the D


Bahrain, Kazakhstan in 'new era of co-operation'

Bahrain and Kazakhstan are to usher in a new era of joint co-operation spanning all sectors.   The main focus will be on promoting economic, cultural and tourism co-operation in addition to boosting investment, said a report in the Gulf Daily News (GDN), our sis

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