Saturday 28 May 2022

Aramex raises foreign ownership limit to 100%

Aramex, a leading global provider of comprehensive logistics and transportation solutions, has announced that it has obtained the necessary approvals from the Securities and Commodities Authority (SCA) and all other relevant regulatory authorities to officially increase the Foreign Ownership


Bahrain growth to hit 3.4% on back of reforms, oil prices: IMF

Bahrain is experiencing a gradual post-Covid recovery, while the renewed fiscal reform momentum and high oil prices are mitigating Bahrain’s fiscal and external vulnerabilities, said an IMF mission at the end of a visit to Bahrain.   “Growth is proje


Economic cooperation in Menap ‘a strategic imperative’

Economic cooperation in Menap (Middle East, North Africa and Pakistan) has become a strategic imperative for prosperity and socioeconomic development, says a report.   While 8.5% of the world's population live in the Menap region, it accounts for 3.4% of glo


Team highlights Bahrain investment opportunities at Davos

A high-level Bahraini delegation promoted the kingdom's unique investment opportunities, along with its Economic Recovery Plan, at the just-concluded annual World Economic Forum (WEF) in Davos.   The forum was held in Swiss resort from May 22 to 26.


Abdullah Al Othaim Investment Co delays IPO roadshow

Saudi Arabia-based Abdullah Al-Othaim Investment Company (AOIC) has decided to reschedule the roadshow and book building process for the company's planned Initial Public Offering (IPO).   The IPO roadshow was originally planned to commence on May 26. 


Binance Bahrain gets category 4 license from cbank

Binance, a global blockchain and cryptocurrency infrastructure provider, said that Binance Bahrain has received a Category 4 license as a crypto-asset service provider (CASP) from the Central Bank of Bahrain (CBB). The license allows it to offer a full-suite of crypto exchange se


GIB appoints Nezar Al Saie to board

Gulf International Bank (GIB) has appointed Nezar Al Saie to its Board of Directors.    Al Saie brings to the board more than four decades of experience in banking, finance, and asset management.    He is the Vice Chairma


Apicorp records net income of $99.6m for 2021

Arab Petroleum Investments Corporation (Apicorp), a multilateral financial institution, has recorded a net income of $99.6 million for the full year ended December 31, 2021.    Apicorp’s performance marked a year of notable financial and operational a


UAE non-oil foreign trade inches towards AED500bn mark

The UAE’s non-oil foreign trade in the first quarter was close to AED500 billion ($136 billion) figure for the first time in the country's history, according to the Federal Competitiveness and Statistics Centre.   It hit a total of AED499.7 billion, re


UAE signs sustainable global partnership deal with WEF

The UAE government and the World Economic Forum (WEF) (Davos 2022) have signed a sustainable global strategic partnership deal that ushers in a new era of continuous, fruitful bilateral cooperation over the coming two decades.   The agreement aims to boost the e

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