Sunday 25 June 2017

G20 GDP growth stable at 0.9pc in Q1

Growth of real Gross Domestic Product (GDP) in the G20 area was stable at 0.9 per cent, in the first quarter of 2017, according to provisional estimates.    Growth picked up in Korea (to 1.1 per cent, from 0.5 per cent) and, to a lesser extent, in Canada (to 0.9 per cen


Mastercard in bid to boost mobile biometrics awareness

Mastercard and the Department of Computer Science at the University of Oxford have launched a report to provide bank executives with guidelines to successfully bring mobile biometrics to life. Simply put, they need to focus on Performance, Usability, Interoperability, Security an


UAE firms distributed $7.8bn in cash dividends in 2016

The UAE-based public joint-stock companies have disttibuted cash dividends worth around Dh28.5 billion ($7.75 billion) for the fiscal year 2016, said a repport, citing the Securities and Commodities Authority.   Of the total amount, Dh27.9 billion are cash divid


Dubai’s date trade tops $221 million in 2016

Dubai’s total date trade amounted to $221.7 million in 2016, of which exports accounted for the largest share ($85.1 million), followed by imports ($72.1 million) and re-exports ($64.5 million), according to a recent analysis by the Dubai Chamber of Commerce and Industry. &


DMCC, Alrosa extend tie-up in diamond trade

DMCC (Dubai Multi Commodities Centre) and Alrosa, a Russian group of diamond mining companies, have agreed to enhance diamond trade cooperation. Alrosa president Sergey Ivanov discussed options for expanding Alrosa's trading activities at the Dubai Diamond Exchange, a DMCC en


Mena PE transactions hit record 244 in 2016

The number of disclosed private equity transactions in the Mena region reached 244 in 2016, recording the highest since 2008, said a new report from the Mena Private Equity Association, a non-profit organisation. However, the value of disclosed investments decreased by 25 per cen


Gulf Energy Maritime inks $74m Islamic finance deal

Dubai-based Gulf Energy Maritime (GEM), a leading independent commercial product and chemical tanker operator, has signed a Dh275 million ($74.8 million) Islamic finance deal with Dubai Islamic Bank (DIB). A major player in the region, GEM currently has a fleet of 19 trading ship


Abraaj divests stake in Careem to Kingdom Holding

The Abraaj Group, a leading investor operating in growth markets, has divested its shareholding in Careem, one of the region’s leading transportation businesses, to Kingdom Holding Company. Founded in Dubai in 2012, Careem has grown to be one of the leading transportation a


Bahrain cbank mulls sandbox for fintech start-ups

The Central Bank of Bahrain (CBB) has announced new regulations to create a regulatory sandbox that will allow start-ups and fintech (financial technology) firms to test and experiment their banking ideas and solutions. The creation of the regulatory sandbox provides an opportuni


Emcredit to launch mobile payment solution

Emcredit, the company created by Dubai Economy, is soon going to launch empay, a unique mobile payment solution developed within the framework of the Dubai Smart Government initiative. It aims to revolutionise customer experience by enabling them do their financial and non-financ

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