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Bahrain tops Arab world in developing ICT sector (Gulf Daily News - 01/12/2015)

Bahrain has been awarded the top rank in the Arab world for information and communications technology (ICT) development by the International Telecommunications Union (ITU). The kingdom ranks 27th globally and has been awarded for achieving the most

Opportunities focus of Zain conference (Gulf Daily News - 01/12/2015)

Demand for mobility, broadband, virtualisation, cloud-based services and enhanced customer experience are drivers for transformation in information and communications technology, experts have said. Speaking during the fifth Zain Technology Conference

BisB shares offer fully subscribed (Gulf Daily News - 01/12/2015)

A rights offer of shares by Bahrain Islamic Bank (BisB) that ended on Sunday was fully subscribed, the bank has announced. Under a capital increase plan, the bank offered 170,940,171 ordinary shares to existing shareholders at a price of 117 fils per

GIB’s ratings affirmed by Moody’s and Fitch (Gulf Daily News - 01/12/2015)

International credit rating agencies Moody’s and Fitch have affirmed Bahrain-based Gulf International Bank’s (GIB) credit ratings. Fitch affirmed GIB’s long-term credit rating at ‘A’ with a stable outlook. Moody’s Investors Service (Moody’s) affirmed

Gender equality ‘could add $13trn to global economy’ (Gulf Daily News - 01/12/2015)

Gender equality could add $13 trillion to the global economy, according to Deutsche Bank Group global head of diversity and inclusion Guelabatin Sun. She said that studies have shown that companies get a 33 per cent improvement in return on investment

ADIB launches Dana Bazaar for female entrepreneurs (AME Info - 01/12/2015)

Abu Dhabi Islamic Bank (ADIB), a leading financial services group, has launched “Dana Bazaar” in conjunction with Dubai SME, to give female entrepreneurs with home-based businesses a platform to showcase their businesses to the UAE public. Dana Bazaar

Trade exchange between UAE and Uganda reaches $190 million (AME Info - 01/12/2015)

The trade exchange between the UAE and Uganda amounted to $190 million in 2014, reveals a senior official. Juma Mohammed Al Kit, assistant under-secretary of the UAE Ministry of Economy for Foreign Trade, says that Uganda is one of the promising African

Bank Muscat deploys mobile ATM/CDM to extend banking services at doors (Oman Daily Observer - 01/12/2015)

Bank Muscat, the flagship financial services provider in the Sultanate, as part of its ‘Let’s Do More’ vision and commitment to partnership in facilitating banking services in remote areas, has deployed a state-of-the-art mobile ATM/CDM van. The mobile

Indian ceramics hub set for Oman foray at The Home Show (Oman Daily Observer - 01/12/2015)

the powerhouse of India’s ceramic industry, is set to make its Oman debut at The Home Show 2015, the Sultanate’s definitive trade fair on the ideal home environment. The keenly anticipated trade expo, organised by well-known Omani events management firm

Chinese firm plans $20m pipe factory in Sohar (Oman Daily Observer - 01/12/2015)

Well-known Chinese steel mill Jiangsu Changbao Steel Tube Co says it plans to set up a manufacturing facility in the Sultanate specialising in the production of steel piping and related goods for the domestic and regional oil and gas industry.

Oman shares fall on heavy selling pressure (Times of Oman - 01/12/2015)

Omani stocks extended their longest-losing streak on selling pressure from international institutions. The MSM30 Index slipped for a 19th day to the lowest in almost 12 months. The bourse’s general index MSM30, which is the barometer of the trend, fell

Oman plans to set up first venture capital company (Times of Oman - 01/12/2015)

Oman plans to establish its first venture capital company, which will be formed exclusively by investors from the private sector. The announcement to form the Oman Venture Capital Company (Ethmar), which means harvesting in English, will be announced at

Investment opportunities in Iran to be discussed at major conference (Times of Oman - 01/12/2015)

Investment opportunities in Iran and the strategic importance of Oman in facilitating investment from Asian countries after the lifting of sanctions will be the focus of a major economic conference planned on March 23 and 24 next year in Muscat. The

Qatar leads GCC in offering strong ‘premiumisation’ opportunities (Gulf Times - 01/12/2015)

Driven by high income levels, particularly in Qatar, the UAE and Saudi Arabia, and demand for innovation and growing health awareness, GCC markets will offer strong “premiumisation” opportunities in the food and drink industry throughout a forecast

Doha Bank holds workshops on Wage Protection System (The Peninsula - 01/12/2015)

Doha Bank recently launched a series of digital workshops on Wage Protection System (WPS) for its corporate customers with the aim of helping them meeting the requirements under the newly implemented wage payment system, said a statement yesterday. The

QNB signs deal with QF to issue multi-purpose card (The Peninsula - 01/12/2015)

QNB has signed an agreement with Qatar Foundation for Education, Science and Community Development (QF) to issue a multipurpose co-branded card, called ‘Hawiyati’ that will create a cashless-spending environment in QF’s flagship development, Education

Qatar stocks crash on MSCI concerns, oil worries (The Peninsula - 01/12/2015)

Shares in Qatar stock market tumbled on concerns over MSCI rebalancing and oil worries yesterday. Sparked by foreign institutional investors’ sell-off, the benchmark index plunged 4.38 percent, or 462.65 points, to finish at 10,090, the worst loss in two

GCC tops global average in financial literacy (Trade Arabia - 01/12/2015)

Forty per cent of men in the GCC are financially literate in comparison to 36 per cent of women as against two-thirds of adults worldwide not being financially literate, according to a Standard & Poor’s report. All ages interviewed in the region scored

Chinese firms ‘eyeing investment in Kuwait’ (Trade Arabia - 01/12/2015)

Chinese companies are increasingly eyeing attractive investment opportunities in Kuwait, as the country streamlines procedures for licencing and granting incentives to help boost foreign investments, according to experts. Deloitte, a leading provider of

Arcapita, Al Rajhi quit $360m real estate fund (Trade Arabia - 01/12/2015)

Arcapita, the Bahrain-based investment management firm, has sold real estate assets it jointly held with Saudi Arabia's Al Rajhi Capital for SR1.35 billion ($359.81 million), the two companies said in a joint statement on Monday. The ARC Real Estate

Climate plans of poorest nations to cost $1 trillion (Trade Arabia - 01/12/2015)

The world's 48 poorest countries will need to find around a trillion dollars between 2020 and 2030 to achieve their plans to tackle climate change - and those plans should be a priority for international funding, researchers said. Estimates based on

Mideast funds positive on stocks, bearish on bonds (Trade Arabia - 01/12/2015)

Middle East fund managers have become slightly more positive on regional equities after valuations fell, and more bearish on bonds because of a looming US interest rate hike, a monthly Reuters survey shows. The survey of 14 leading fund managers,

UAE economy to grow 3% in 2015 (Emirates 24|7 - 01/12/2015)

The UAE economy, the second largest in the Arab world, is projected to grow by around three per cent in 2015, aided by relatively strong growth in the non-oil sector. Projections by the Central Bank showed earlier GDP would rise by 3.1 per cent in 2015

New Saudi Arabia land tax to trigger sales flurry (The National - 01/12/2015)

A new tax on undeveloped land in Saudi Arabia is expected to trigger a flurry of sales, say brokers. Saudi Arabia’s council of ministers has approved a controversial “white land” tax making it more expensive for owners of urban land to keep it empty.

Abu Dhabi jumps more than 1% ahead of MSCI reweighting (Gulfnews - 01/12/2015)

Abu Dhabi index jumped more than 1 per cent on Monday as MSCI reweighting takes effect from Monday night. Qatar index fell more than 4 per cent. The Abu Dhabi Securities Exchange General Index ended 1.53 per cent higher at 4,236.39. “The market sentiment

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