The Bahrain All-Share Index stabilised above 1,100 points, closing 0.10% higher at 1,129.23 points. Ahli United Bank gained 1.70% to close at $0.60. Earlier in the day, the lender said it has entered into an agreement with Network International (NI), "one of the leading payment solutions providers in the Middle East", to launch state of the art Point-of-sale acquiring services and e-commerce in the Kingdom of Bahrain. Commenting on the deal, Al Ahli Deputy Group CEO Abdulla Al Raeesi said: "The Network International platform which supports advanced acquiring functionality will enable Ahli United Bank to meet its objectives of providing enhanced merchant solutions in Bahrain and its subsequent extension to cover other key AUB markets, with innovative features such as integrated multi-lane solutions, hotel solutions, new e-commerce services, dynamic currency conversion and loyalty programs to address the specific needs of all business sectors".
UAE’s non-oil job, output levels surge
While the UAE's non-oil producing private sector reported the fastest rise in employment levels in two years and a further boost in output levels during April, the rate of increase in new orders ease
Kuwait budget surplus may hit $52 billion
Kuwait is likely to have recorded another massive surplus during the last financial year of up to KD15 billion ($52.8 billion) as the price of Kuwait Export Crude (KEC) averaged $107 per barrel for