Saturday 29 April 2017
 
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Bahrain imports hit $2.99bn; exports 1.57bn

The value of imports by Bahrain reached BD1.124 billion ($2.981 billion) during the first quarter of this year, while the value of national origin exports hit BD594 million ($1.575 billion), said a report. The trade balance - the difference between exports and imports -- reached

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CustomerXPs, Finesse to showcase anti-fraud shield

Enterprise financial crime management software product company CustomerXPs, along with Finesse, its premier technology partner, will showcase its acclaimed product Clari5 at the Seamless Middle East 2017 expo in Dubai next month. The expo is being held at the Dubai International

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SWIFT developing proof of concept for DLT

SWIFT is developing a proof of concept (PoC) application that will test whether distributed ledger technology (DLT) can be used by banks to improve the reconciliation of their nostro accounts in real time. Australia and New Zealand Banking Group, BNP Paribas, BNY Mellon, DBS Bank

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Samsung Pay m-payment service launched in UAE

Samsung Gulf Electronics announced today the launch of its much-anticipated, flagship mobile payments service, Samsung Pay, in the UAE. Simple and secure, Samsung Pay can be used to make purchases almost anywhere you can swipe your debit or credit card. Samsung Pay

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StanChart sets up private banking academy

Standard Chartered Private Bank has partnered with Fitch Learning, a pre-eminent training and professional development firm, and Insead, a leading business school, to create a bespoke training programme for its global frontline staff that will enable them to deliver a higher level of service an

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Saudi Arabia aims to boost FDI to 5.7pc of GDP

Saudi Arabia is aiming to increase the foreign direct investment from 3.8 per cent of its current GDP to about 5.7 per cent in 2017, as part of its efforts to diversify its economy and boost investment inflows into the kingdom. The effort is part of Saudi Arabia’s Vision 20

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New Bahrain hotels to draw $10bn investment

Fifteen new five and four-star hotels and beachfront resorts with a combined investment of more than $10 billion will be established in Bahrain over the next five years, a report said. The list includes world-renowned hotel brands including: The One&Only Resort, Wyndham Grand

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IIB, Al Shiddi to co-invest in Swissôtel, Sarajevo

Swissôtel, part of AccorHotels, world-leading travel & lifestyle group, today announced that it has entered into a franchise agreement with Bahrain’s International Investment Bank (IIB) and Al Shiddi International for the development of a new 218-room urban resort in Sarajevo, B

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GCC framework ‘provides roadmap for VAT in Bahrain’

The release of the unified agreement for value-added tax (VAT) for the Gulf Cooperation Council (GCC) countries by Saudi Arabia paves the way for the implementation of VAT in 2018, said an expert. It also provides companies in Bahrain with a sufficiently detailed framework to start pre

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Bahrain's credit rating ‘backed by wealth values’

Bahrain's Ba2 credit rating with a negative outlook is supported by the country's high wealth levels, a diversified economy and the positive net international investment position, Moody's Investors Service said in a report. However, the sovereign also faces credit con

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