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Burgan secures CBK nod to buy Bahrain's United Gulf BankKuwait-based Burgan Bank has announced that it has obtained the final approval from the Central Bank of Kuwait (CBK) to acquire 100% stake in United Gulf Bank (UGB), a licensed conventional wholesale bank headquartered in Bahrain. A strategic investor, UGB pos More… |
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AD Ports secures refinancing and upsizing of RCF to $2.125bnAD Ports Group has successfully refinanced and upsized its existing Revolving Credit Facility (RCF) from $1 billion to $2.125 billion (equivalent in AED and USD tranches). This move aims to optimise the group's financing costs by improving interest m More… |
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Fitch picks 4 GCC banks including FAB as flagship banksFitch Ratings has identified four banks in the Gulf Cooperation Council (GCC) (in Abu Dhabi, Qatar, Kuwait and Oman) as flagship banks. The banks are First Abu Dhabi Bank (FAB; AA-/Stable/a-), Qatar National Bank (QNB; A+/Stable/bbb+), National Bank of K More… |
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Sports Boulevard Foundation sets up $930m realty fundThe Sports Boulevard Foundation has signed an agreement with Riyadh Development Company, FTG Development, and Jadwa Investment Company to set up a SR3.5 billion ($930 million) mixed-use private real estate development fund. The fund will help the development of the private plots within the Ur More… |
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Careem Pay launches instant, affordable transfers to LebanonCareem Pay, the digital wallet and fintech platform within the Careem Everything App, has introduced a new international remittance service to Lebanon in partnership with the Purpl digital wallet. Money can be transferred from AED into USD from a Careem accoun More… |
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ACCA urges SMEs to take control of their financesThe Association of Chartered Certified Accountants (ACCA) is calling on SMEs and individuals to take decisive action in reviewing and managing their finances as 2024 draws to a close. Against the backdrop of rising costs, fluctuating income, and increasi More… |
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Central Bank of Bahrain cuts interest rates following US Fed leadIn a major move, the Central Bank of Bahrain today (December 18) cut its overnight deposit rate by 25 basis points. The move followed the US Federal Reserve's decision to cut interest rates by 25 bps. In its statement, CBB announced its decision to cut the More… |
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State Street names new Saudi, Bahrain country headState Street Corporation, one of the world's leading providers of financial services based in Boston, US, has announced the appointment of Majed Al Hassoun as the Country Head for Saudi Arabia and Bahrain, to drive and execute the firm’s Investment Services and Global Advisors strat More… |
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EY launches new academy in KSA to meet workforce needsEY has announced the launch of its new academy in the Kingdom of Saudi Arabia (KSA) that will offer world-class, digitally enabled talent development products and programmes across multiple industries and sectors. The organization is the first of its pee More… |
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Mastercard in deal to boost EEMEA digital payment solutionsMastercard has announced a strategic partnership with Dgpays, a leading financial technology provider, to advance the adoption of digital payment solutions for consumers and businesses across Eastern Europe, the Middle East, and Africa (EEMEA). As part of the More… |
