Sunday 14 August 2022

NBB reports 34% jump in Q2 net profit to $53m

National Bank of Bahrain (NBB) has reported a 34% increase in its net profit attributable to equity shareholders to BD20 million ($53.1 million) for the second quarter ended June 30, 2022, compared to BD14.9 million in the same period of 2021. 


85pc consumers in Mena ‘embrace digital payments’

Some 85% of people in Middle East and North Africa (Mena) have used at least one emerging payment method in the last year, including tappable smartphone mobile wallets, BNPL, biometrics, and payment-enabled wearable tech devices.    Consumers are also makin


stc Bahrain launches BenefitPay directly on ‘My stc BH’ app

stc Bahrain, a world-class digital enabler, has introduced BenefitPay services on the ‘My stc BH’ app.    stc Bahrain customers will be able to pay their bills, recharge and top-up their prepaid lines in a secure and convenient manner, with Bene


Bahrain Clear launches Bahrain Private Market platform

Bahrain Clear (BHC), a fully owned subsidiary of Bahrain Bourse, has announced the launch of Bahrain Private Market, a new comprehensive platform for closed shareholding companies.   It aims to provide a full suite of bespoke share registrar services in a secure


Boursa Kuwait’s H1 net profit jumps 36.8% $35m

Boursa Kuwait, the private entity that manages the Kuwait stock market, has seen its first-half (H1) net profit (attributable to equity holders of the Parent Company) jump 36.8% to KD10.7 million ($35 million).     This is compared to


Al Baraka Bank, TDFP to launch mobile wallet service in Tunisia

Tunisian Digital Finance for People (TDFP) has signed a partnership agreement with Al Baraka Bank to jointly launch and operate a financially and socially inclusive mobile wallet service in Tunisia.    TDFP is a subsidiary of VYZYO, a rapidly growing mobile


Saudi Arabia's GDP grows 11.8% in Q2

The Real Gross Domestic Product (GDP) of Saudi Arabia witnessed a growth rate of 11.8% in Q2/2022 compared to Q2/2021, according to flash estimates by the General Authority for Statistics (GASTAT).    This dynamic growth was mainly due to the growth in oil


GFH subsidiary Roebuck signs €400m JV with ICG

GFH Financial Group (GFH) said that its subsidiary Roebuck Asset Management and ICG Real Estate, of Intermediate Capital Group (ICG), have formed a joint venture (JV) to aggregate an urban logistics/last mile portfolio across Spain. The partnership represents another milestone fo


Saudi Ceramic Q2 hit by lower revenue: Al Rajhi

Saudi Ceramic Company, Saudi Arabia’s largest manufacturer and seller of ceramic tiles, has seen its Q2 net income fall by 40.0% y-o-y, impacted by lower revenue and a resultant fall in gross margins.    According to Al Rajhi Capital Research, in line


NBB in tie-up to launch supply chain finance solution

The National Bank of Bahrain (NBB) has partnered with Cork Information Technology to introduce a supply chain finance solution for its corporate and SME (small and medium enterprise) clients and their suppliers.    Reiterating its commitment towards uplifti

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