Tuesday 21 February 2017

Riyadh, Jeddah among Global Cities of the Future

Saudi Arabia’s capital Riyadh ranks fourth followed by Jeddah, in the list of Global Cities of the Future, developed for the ongoing World Government Summit 2017 in Dubai, UAE. Riyadh is increasingly investing in becoming a regional hub for business and logistics wh


AFS to host debut Mideast & Africa fintech forum

Arab Financial Services (AFS), a leading payment processing company in the Mena region, will host the first edition of the Middle East & Africa FinTech Forum in Bahrain on March 29. The event, sponsored by Bank ABC and the Bahrain Economic Development Board (EDB), will examin


Takaud investment strategies deliver impressive returns

Takaud, a specialist provider of savings, investment and pension solutions for the Mena region, announced today that the company’s nine investment strategies saw up to double-digit growth in 2016. “It is a fantastic news for people saving with Takaud for retirement, their c


Investcorp distributions more than double to $1.1bn

Bahrain-based Investcorp, a leading global provider and manager of alternative investments, has reported distributions of $1.1 billion to Investcorp and its clients during the six months to December 2016, marking a 123 per cent rise on the same period previous year. Although the


Reforms will help UAE adjust to lower oil price: IMF chief

Gradual fiscal consolidation and vigorous implementation of structural reforms in the UAE, including those underlying Vision 2021, will help the economy adjust to the lower oil price environment, promote further economic diversification, and boost productivity, said IMF managing director Christ


BMMI revenues top $66 million in Q4

BMMI’s revenue reached BD25.6 million ($66.8 million) in the last quarter of 2016 from BD22.9 million during the same period of 2015, reported the Gulf Daily News, our sister publication. To read further, please visit


Barwa Bank posts $203m profit

Barwa Bank, a leading Shariah compliant bank in Qatar, recorded a net profit of QR738.8 million ($202.89 million) for 2016. Earnings per share rose to QR2.49, the bank said. The financing portfolio increased by 4.5 per cent from last year to QR29.8 billion. The group’s total asse


UAE 'plans 5pc VAT across the board'

The UAE plans to implement a 5 per cent value added tax (VAT) rate across the board from January next year, a senior official was quoted a saying. "There might be areas where we will adopt the zero-rated but currently, as the Ministry of Finance we are not aiming towards exe


Dubai tops GCC as Global City of the Future

Dubai, increasingly regarded as a global and regional leader in business activity, human capital, information exchange, and cultural experience, is ranked first in GCC as Global City of the Future in a report developed for the ongoing World Government Summit 2017 in the Emirate.


UAE ‘provides a unique model for a better world’

The UAE provides a unique model through a combination of sublime human values and future vision to establish a better world, said Klaus Schwab, founder and executive chairman of the World Economic Forum. In a speech during the World Government Summit, Schwab praised the developme

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