Monday 10 August 2020

Ajman Free Zone unveils 8 economic incentives for H2

Ajman Free Zone (AFZ) has revealed eight new economic incentives including significant fee discounts and waivers for the second half of 2020, aiming to ease the cost of doing business at AFZ while also ensuring business continuity. Launched by Sheikh Ahmed Bin Humaid Al Nuaimi, C


Lead to raise capital from Dubai digitally

Lead Real Estate will become the first Japanese real estate company to raise capital via digital securities out of Dubai in a first for the MEASA region, structured and managed by GRIP (DIFC).   Lead Real Estate, a 17-year-old Japanese Real Estate developer with


Mideast remittances to Asia to fall by $22.5bn in 2020

Remittances from the Middle East to Asia are expected to fall by $22.5 billion during 2020, accounting for 41.4% of the total remittance loss in Asia, said the Asian Development Bank in a new report. This is followed by a $20.5 billion slump in remittances from the US, (37.9% of


WTO issues 2020 edition of statistics review

The World Trade Organisation (WTO) has issued has  the latest edition of its annual publication on international trade statistics, exploring latest trends in global trade, with an in-depth analysis of trade in goods and services and in value-added terms. World Trade Statisti


Creative Zone extends its networking portal to SME community

Dubai-based business setup advisory Creative Zone has announced the opening up of its networking portal ‘CZ Connect 2.0’ to the wider SME community within the region.    Initially launched in January, the portal was exclusive to Creative Zone cl


UAB, Arab chambers adopt Digital Economy guidelines

International organisations have released Ten Digital Economy Guidelines in alignment with the G20 leaders’ policy directives that aim at securing sustainable economic growth.   The guidelines were adopted by the Union of Arab Banks (UAB), Unio


Gold price rallies with record ETF inflows

The Covid-19 pandemic impacted the consumer sectors of the gold market in H1 2020, with total demand dropping by 6% to 2,076t versus the same period in 2019, according to the World Gold Council’s latest Gold Demand Trends report.   However, while overall g


Heart conditions and cancer top mediclaims in the Gulf

Heart conditions and cancer were the top two reasons for retail Metlife claims in the Gulf, accounting for 64% and 19%, respectively. The average age of a claimant was 52 years, with the youngest 19 years old and the oldest aged 92.   MetLife Gulf highlights tha


ADCB reports $390.97m net profit for H1

Abu Dhabi Commercial Bank (ADCB) has reported a net profit of  AED1.436 billion ($390.97 million) for the first half (H1) of 2020, a 48% decrease compared to AED2.782 billion in H1 2019.   The second quarter (Q2) net profit was at AED1.227 billion (AED209 m


NBB H1 profit down 27.3% on Covid-19 impact

National Bank of Bahrain (NBB) has reported a 27.3% decrease in its net profit attributable to equity shareholders to BD29.1 million ($77.2 million) for the first half ended June 30, 2020, compared to BD40 million ($106.1 million) in 2019.    The decrease i

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