Wednesday 29 March 2017

DIB launches Panin Dubai Syariah Bank in Indonesia

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has celebrated the launch of Panin Dubai Syariah Bank in Indonesia. Following regulatory approvals in 2015, Dubai Islamic Bank acquired almost 40 per cent in PT Bank Panin Syariah Tbk, which has been rebranded to Pani


Aramco welcomes Royal Order slashing tax

Saudi Aramco today welcomed the introduction of the new tax regime for all hydrocarbon producers operating in the kingdom as another positive step in the diversification of the kingdom’s economy.   Amin H Nasser, president and CEO, Saudi Aramco, said the c


Arqaam Capital launches global macro hedge fund

Arqaam Capital, a specialist emerging markets investment bank, has launched a global macro multi-asset fund as part of its growth-led strategy and diversification into the alternatives space. The Arqaam Global Macro Fund (AGMF) is a global macro systematic fund invested in liquid


EFG Hermes posts 8-fold jump in net profit

EFG Hermes, a leading financial services corporation in the Middle East and North Africa (Mena), reported today an almost eight-fold increase in net profits to EGP1.6 billion ($87.91 million) for 2016. EFG Hermes posted revenues of EGP4 billion ($219.78 million), up 279 per cent


SMEs at risk of digital exclusion, says ICAEW

Smaller businesses could be excluded from government plans to make tax transactions digital according to new research from ICAEW, a leading professional membership organisation of chartered accountants. The accountancy and finance body says smaller companies and many individuals


Bahrain launches innovative investment market

Bahrain Bourse (BHB) held an official bell-ringing ceremony yesterday (March 26) at the bourse to inaugurate the Bahrain Investment Market (BIM), an innovative equity market designed specifically to offer the region’s companies an alternative cost-and time-effective means for raising ca


Mastercard launches Decision Intelligence

Mastercard, a leading technology company in the global payments industry, today launched Decision Intelligence, a comprehensive decision and fraud detection service, in the Middle East and Africa region. The solution uses Artificial Intelligence (AI) technology to help financial


UAE Exchange launches elite lounge

Revolutionising its service to enhance customer experience, leading global remittance, foreign exchange and payment solutions brand UAE Exchange has launched an elite lounge for its club exclusive members on International Happiness Day. The club exclusive lounge, a first by an ex


Four US cities to take part in AIM Dubai

Four select cities of US -- Virginia, Ohio (Columbus), Missouri and Los Angeles -- alongside SelectUSA Program will participate at the Annual Investment Meeting (AIM) being held in Dubai next month, promoting the US as a perfect destination for foreign direct investments (FDI). &


65 per cent of GCC expats 'don't have a pension'

GCC expatriates are miles behind their counterparts in North America, Europe and Asia when it comes to retirement planning, a study by global financial firm Guardian Wealth Management (GWM) has found. In fact, in the annual pensions survey conducted by GWM, it found that 64.21 pe

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