Friday 15 November 2019

Al Tamimi celebrates operations in Bahrain’s FinTech ecosystem

Al Tamimi & Company, a leading law firm in the Middle East, recently celebrated its fifth anniversary of operations in Bahrain’s booming FinTech ecosystem in style. Since its establishment in Bahrain in 2014, and 30 years of operating in the region also celebrated this


SABB reports 9-month net profit of $514m

The Saudi British Bank (SABB) recorded a net profit after zakat and taxes of SR1,913 million ($514 million) for the nine months ended September 30, 2019. This is a decrease of SR954 million or 33.3 per cent compared to SR2,867 million for the same period in 2018. SABB recorded a


Union Coop posts 16pc rise in 9-month net profit

Dubai-based Union Coop, a leading retail company, has posted net profit of Dh386.6 million ($105.2 million) for the first nine months (9m) of the year as against a net profit of Dh332.3 million in 9m 2018, marking an increase of 16 per cent. Khalid Humaid Bin Diban Al Falasi, CEO


Modus Capital launches $75m Mena venture fund

Modus Capital, a New York-based hybrid venture capital firm, has launched its first regional fund, Modus Mena Venture Fund I (MMVFI), a $75 million fund targeting early and growth stage companies across the Mena region. The versatile fund is adaptable for a range of industries an


Mena IPO deal value plunges 45pc in Q3

The deal value of initial public offerings (IPOs) in the Middle East and North Africa (Mena) region decreased by 45.3 per cent to $190 million in the third quarter, down from $347.3 million last year, according to a new report by leading professional services firm EY.  


Abu Dhabi ITC boosts fleet of eco-friendly taxis

The Integrated Transport Centre (ITC) in Abu Dhabi said it has increased its fleet of taxis operating in the UAE capital with the addition of another 1,308 hybrid vehicles during the third quarter, up 35 per cent over the same period last year.    ITC state


Dubai-Ukraine trade exchanges hit $588m in 2018

Ukraine is an important trade partner to Dubai, and their trade exchanges in 2018 grew 24 per cent to Dh2.16 billion ($588 million) compared to Dh1.744 billion in 2017, said a top official. “The bilateral trade in the first half of 2019 reached Dh1.147 billion, and the top


Dubai entrepreneur launches new postpay service

A unique local fintech start-up has been launched by Dubai-based entrepreneur and ex-Strategy consultant Tariq Sheikh to provide straightforward financial products to customers who love to shop online, for absolutely no extra cost.   The postpay is a payment ser

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