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Tamkeen backs Singapore Gulf Bank's hiring of 70 BahrainisBahrain's Labour Fund (Tamkeen) has announced its support for Singapore Gulf Bank (SGB), the digital bank backed by the kingdom's sovereign wealth fund Mumtalakat and privately held investment group Whampoa Group in boosting the employment of skilled Bahraini professionals in high val More… |
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Al Salam Bank net profit grows 40% to record $156.5mBahrain-based Al Salam Bank has achieved record profitability with net profit attributable to shareholders increasing by 39.8% to $156.5 million for the fiscal year ended December 31, 2024, up from $112 million in 2023. The substantial More… |
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UAE issues cabinet decision on top-up tax for multinationalsThe UAE Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on the introduction of the Top-up Tax for Multinational Enterprises, providing further details on the UAE Domestic Minimum Top-up Tax (UAE DMTT). This follows the More… |
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BENEFIT launches credit info exchange with Kuwait’s CinetBahrain’s innovator and leading company in Fintech and electronic financial transactions service BENEFIT has signed an agreement with Kuwait Credit Information Network Company (Cinet) for the launch of the credit information exchange to facilitate commercial credit inquiries between Kuw More… |
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Dubai GDP expands by 3.1% in first nine months of 2024Dubai’s economy continued its strong upward growth trajectory, with Gross Domestic Product (GDP) in the first nine months of 2024 rising 3.1% from the same period in 2023 to reach AED339.4 billion ($92.3 billion). The surge highlights significant strides across key sectors. More… |
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Mortgage financing for Bahrainis soars to $8bn in 2024Bahrain's mortgage loans accounted for the largest share of total personal loans granted to the kingdom's citizens in 2024, surging to hit BD3.03 billion ($8 billion), thus posting a 5% growth when compared to BD2.88 billion ($7.6 billion) the previous year, according to ASK Real Esta More… |
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KSA completes fiscal sustainability plan with key achievementsSaudi Arabia has completed the executive plan for its Fiscal Sustainability Programme, which is part of Saudi Vision 2030, with several remarkable results, including raising non-oil revenues from SAR186 billion ($50 billion) in 2016 to SAR458 billion ($122.11 billion) in 2023, with a More… |
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UAE non-oil trade hits AED3 trillion in 2024The UAE's non-oil foreign trade has continued its upward trajectory, reaching AED3 trillion ($816.77 billion) in 2024, with a record annual increase of 14.6% compared to 2023. In statements to the Emirates News Agency (WAM), Dr Thani bin Ahmed Al Zeyoudi, More… |
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Al Ramz expands footprint with Muscat Stock Exchange licenceAl Ramz Corporation, a leading financial services institution with over 25 years of expertise in capital markets, has been granted a market maker licence by the Muscat Stock Exchange (MSX), marking a significant milestone in its regional expansion strategy. Th More… |
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HSBC to relocate Qatar Head Office to Msheireb Downtown DohaHSBC has announced plans to move its Qatar Head Office to Msheireb Downtown Doha. The bank opened its first digitally focused branch in Msheireb in the Galleria Mall in 2020. With the move the bank plans to consolidate its operations in one of the most s More… |