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IPO surge: Saudi SMEs help 2017 hit a five-year high

The first quarter of 2017 saw 10 new initial public offerings (IPOs) registered on the stock markets among the six members of the Gulf Cooperation Council (GCC), a five-year record high and propelled by Saudi Arabian small and medium-sized businesses, according to a press release issued by consultancy firm PwC. IPO news in the region is important, as Saudi Arabia, …

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Bahrain-based GIB gains retail banking licence for digital venture

Gulf International Bank (GIB) said on Wednesday it had been granted a retail banking licence in Bahrain by the kingdom’s central bank for its digital venture called Meem. GIB is licenced by Bahrain’s central bank, headquartered in Bahrain and owned by the governments of the six Gulf Cooperation Council countries, with Saudi Arabia’s Public Investment Fund the principle shareholder with …

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Middle East millennials work harder, driven by desire to make positive impact: Study

Millennial business owners in the Middle East are more likely to be driven by the desire to increase their influence and have a positive impact on others than the overall average for entrepreneurs globally, according to a new study by HSBC Private Bank. The bank’s second Essence of Enterprise report, launched recently, researched the views of over 4,000 entrepreneurs globally …

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Saudia to carry record 10.3mln passengers this summer

Saudi Arabian Airlines (Saudia) has released its summer plan, outlining the preeminent operational aspects during the upcoming peak season starting from June 24 to Sept. 16. The plan shows a record increase in the number of flights and seating capacity both internationally and domestically, to prepare for the dramatic increase in the demand for air travel in the summer period. …

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Cloud migration can help finance reap rewards

Cloud-based finance technology is an attractive proposition for forward-looking finance leaders looking to increase business performance, optimize operational efficiency and keep up with regulatory changes. Furthermore, moving finance to the cloud will help truly transform it into a strategic function. A tipping point for finance Amid the digitisation of the economy, the finance function is at a tipping point. Today’s …

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Facebook celebrates MENA winners of First Bots for Messenger Developer Challenge

The Bots for Messenger Challenge was launched on February 15th this year, in 64 countries across the wider Middle East and Africa to recognize and reward developers who were able to create the most innovative new bots on Messenger. Facebook (www.Facebook.com) selected 3 winners from the Middle East and North Africa (MENA) from 60 finalists as part of the first-ever …

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UAE ranked 1st in MENA region and 35th worldwide in Global Innovation Index 2017

The UAE has improved its standing in the 2017 Global Innovation Index, GII, topping all Arab countries and ranking 35th globally to improve six places from last year’s 41st position cementing its status as one of the world’s most innovative countries. The results of the index were officially announced during a press conference held on 15th June at the UN …

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Open access for Palestinian research by 2020

By SciDev.Net- Mohsen Alafranji A meeting to evaluate a European-Union funded collaborative project, held in mid-March, has brought Palestinian universities a step closer to raising the visibility of locally produced research. The project — ‛Research Output Management through Open Access Institutional Repositories in Palestinian Higher Education (ROMOR)’ — aims to collect, document and provide access to scientific research produced at …

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Egypt’s investment law executive regulations to be finalised in 10 days

Egypt’s Investment Minister Sahar Nasr will finalise the executive regulations for a newly issued investment law within 10 days and submit them to the prime minister for approval, she told Reuters on Saturday. “I formed a ministerial committee which I head with all relevant ministries and stakeholders including private-sector representatives and parliamentarians. The committee is finalising the draft for submission …

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Careem set to launch in Palestine

Careem, a ride-hailing service in the Middle East and North Africa, will launch in Palestine on June 15, it announced on Tuesday. Starting in the city of Ramallah and expanding to more locations in the near future, Careem says it hopes to highlight the opportunity the Palestinian tech ecosystem provides to local businesses. Careem’s investment in Palestine falls in line …

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