Tag Archives: Finance

Saudi Jadwa Healthcare Opportunities Fund 2 acquires stake in UAE’s United Eastern Medical Services

The Investment in UEMS marks Jadwa Investment’s 10th Private Equity Deal Riyadh, 30 November 2016: Jadwa Investment, a leading Saudi Arabian investment management and advisory firm, today announced that the Jadwa Healthcare Opportunities Fund 2 has acquired a 42.1% stake in United Eastern Medical Services (“UEMS”), a leading UAE-based integrated healthcare group that specializes in the female and children healthcare …

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There is a Lack of Agriculture and Rural Finance in OIC Countries

Lahore: 53% of the population of OIC (Organization for the Islamic Conference) countries lives in the rural area which is globally more than the other areas and its commitment to the total agricultural department is 34%. On the other hand, 49% population lives in the rural areas while their commitment to the total agricultural department is 38%. OIC Countries have …

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IsDB approves more than US $592 million to finance new development projects

The Board of Executive Directors of the Islamic Development Bank (IsDB) has approved US $592.2 million in financing for new development projects in several member countries and some Muslim communities in non-member countries. The major approvals include: US $105 million, for the Fadhili Combined Heat and Power Project (FCHPP), Saudi Arabia US $338.5 million, for the High-Speed Train Sets Project, …

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UAE Economic Outlook Remains Optimistic Despite Increased Regional Supply Chain Risk

Global supply chain risk climbed to 80.8 in Q2, a level not seen since 2013 CIPS Q2 Risk Index reports increased supply chain risk across MENA from Q1 Supply chain risk across the Middle East and North Africa climbed to 4.406 from 4.371 during the second quarter of 2016, according to the CIPS Risk Index, powered by Dun & Bradstreet. …

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Virtual currencies unlikely to crowd out fiat currencies, according to new research

New research from the SWIFT Institute assesses whether the global financial community is accepting Bitcoin as a valid currency. Brussels – The SWIFT Institute has published a new research paper analysing whether Bitcoin will crowd out fiat currencies in the global community. The paper, entitled “Virtual currencies: Media of exchange or speculative assets?”, looks at the dynamic relationship between virtual …

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Launch of Banking App for the Apple Watch by Saudi Hollandi Bank

SHB’s Apple Watch App will provide access to account balances, conduct bill pay transactions, and receive real-time notifications of banking activity right on customer’s wrist. Saudi Hollandi Bank, announced the launch of a banking app designed for the Apple Watch, a first in the Kingdom amongst transactional banking apps for a wearable device. The SHB Apple Watch app will enable …

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Parents in the UAE spend 140% more on university costs than global average

UAE parents spend the most globally on children’s higher education Over half (52%) looking to send children abroad want to invest in property in that country Nearly 9 in 10 have concerns about funding their children’s education UAE parents spend the most globally on children’s higher education Over half (52%) looking to send children abroad want to invest in property …

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KFH Wins STP Award 2016 from Citi Bank

Award Affirms KFH’s Excellence in Utilizing Technology. Kuwait Finance House (KFH) won STP award 2016 from Citi Bank, as the best financial institution in the Middle East to deal with Citi Bank, yet the bank that has achieved the highest rates in the award-winning criteria. STP is an award for “Straight Through Processing” without manual intervention for remittances to Citi. …

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UPDATE 2-IMF agrees $12 billion 3-year funding deal with Egypt

IMF loans to help budget deficit and dollar shortage Deal still to be approved by IMF executive committee Markets cautious, pending implementation By Lin Noueihed and Ahmed Aboulenein CAIRO, Aug 11 (Reuters) – The International Monetary Fund has agreed in principle to grant Egypt a $12 billion three-year loan facility, to support a government reform programme aimed at plugging a …

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Doha bank achieves strong performance ratios

His Excellency Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of the Board of Directors of Doha Bank, announced Doha Bank’s financial results for the first half of 2016. Net profit for the first half of 2016 recorded QAR 708 million despite the sharp decline in the oil prices in the Gulf area and the challenges that face the financial …

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