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Bahrain news

Saudi finance minister Mohammed al-Jadaan
21 January 09:54 PM Proceeds from Aramco’s IPO to finance industries in Saudi Arabia
Mubasher: Saudi Arabia will use the proceeds from Saudi Aramco’s initial public offering (IPO) to support the local economy over several years, finance minister Mohammed al-Jadaan told Reuters on Tuesday. The Public Investment Fund (PIF) received …
Non-oil economy may grow by 2.8% this year
21 January 08:47 PM Bahraini economy to grow 2.3% in 2020
Mubasher: The Bahraini economy is expected to maintain the same growth rate recorded last year in 2020, governor of the Central Bank of Bahrain (CBB) Rasheed Al Maraj stated on Tuesday. Strategic projects will have a positive impact on the …
Remittance outflows to East Asia and the Pacific stands at $149 billion
21 January 06:04 PM MoneyGram joins forces with LuLu Money to boost Asia-Pacific expansion
Abu Dhabi – Mubasher: The leading non-banking financial firm LuLu Money has signed a partnership agreement with the US-based non-banking financial services company MoneyGram International to meet customers’ digital remittance needs in the …
21 January 04:43 PM Kia Motors to invest $25bn in EV development by 2025
Mubasher: Kia Motors Corporation announced its mid- to long-term strategy, ‘Plan S’, which aims to strengthen the company’s leading position in the future automotive industry.
21 January 04:24 PM Facebook to create 1,000 jobs in London this year
Mubasher: Facebook is planning to hire 1,000 people in London in 2020, the company’s vice president for the EMEA Nicola Mendelsohn stated on Tuesday.
21 January 03:49 PM New EU rules pose challenge for car manufacturers - GlobalData
The industry will see a highly competitive year with new EU CO2 rules coming into effect
21 January 02:10 PM GlobalData sees positive outlook for construction industry in 2020
Mubasher: Prospects for the world’s construction industry in 2020 are generally positive, although it has been facing challenges to achieve growth momentum.
The platform can be accessed via a website or a smartphone app
21 January 10:29 AM Invest ITS unveils Bahrain’s 1st AWS-powered medical appointment app
Mubasher: Invent ITS, a Bahraini information technology company, announced that it is in full swing to roll out Bahrain’s first electronic platform which provides a smooth appointment booking experience, offering a new dimension of healthcare …
20 January 05:33 PM Hong Kong’s card payments may top 1bn in 2020 -GlobalData
Mubasher: Total number of card payments in Hong Kong is likely to increase to 1 billion in 2020 from 642.0 million in 2015, GlobalData said.
Chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al Marzouk
20 January 03:59 PM KFH, AUB merger to generate higher profits; BHB listing approved
Mubasher: The chairman of Kuwait Finance House (KFH), Hamad Abdulmohsen Al Marzouk stressed that the bank focuses on merger and acquisition opportunities, CNBC Arabia reported on Monday. He noted that KFH’s merger with Bahrain’s Ahli United Bank …
InterContinental Riyadh
20 January 12:23 PM InterContinental Hotels to expand regional presence via Saudi Arabia
Riyadh – Mubasher: In a response to Saudi Vision 2030, InterContinental Hotels Group (IHG) has announced its intention to expand its current 33-hotel portfolio in the kingdom by opening an office in Riyadh in March 2020. This step comes also as …
Finastra's solutions cover 90% of banks’ needs
20 January 11:19 AM Interview: We look to repeat Finastra Egypt Digital Trade Forum – Serge Tohme
Mubasher: Finastra was founded in 2017 from the merger of two fintech giants, D+H, a leading financial technology provider and Misys, which provides software solutions focused on retail and corporate banking services. Serge Tohme, Managing …
19 January 06:16 PM Swiss Nestlé to invest CHF 2bn in recycled plastics   
Mubasher: Swiss-based Nestlé will invest up to CHF 2 billion ($2.067 billion) to shift from virgin plastics to food-grade recycled plastics.
19 January 05:56 PM Huawei ranks 5th biggest investor in R&D globally
Mubasher: Huawei came in the fifth position for being one of the world’s biggest investors in research and development (R&D) in 2019.
The UAE is one of AGFUND’s founding countries
19 January 04:43 PM ADFD pens agreement to allocate $20m to AGFUND
UAE – Mubasher: Abu Dhabi Fund for Development (ADFD), the leading national entity for economic development aid, has signed an agreement to provide $20 million (AED 73 million) to the Arab Gulf Programme for Development (AGFUND), a regional …
19 January 02:25 PM Oracle eases moving to cloud solutions
Oracle is updating its enterprise management platform to make it easier for customers to move Oracle databases to the cloud
EBRD offered EUR 183m to Egypt's Electricity Transmission Company
19 January 11:34 AM Egypt leads EBRD’s annual investments in 2019
Mubasher: With EUR 1.2 billion new commitments in 26 projects, Egypt has led the European Bank for Reconstruction and Development’s (EBRD) annual investments list in 2019, for the second year in a row, compared to EUR 1.1 billion in 2018. This …
The concession agreement is valid until 2034.
18 January 10:34 PM Gulf Air Group ups stake in Bahrain Airport Services
Mubasher: The Gulf Air Group Holding Company (GFG) has increased its stake in the Bahrain Airport Services’ (BAS) to 44%, the Bahrain News Agency reported on Saturday.  The Bahrain Airport Company (BAC), a subsidiary of the GFG, signed a …
BisB will continue to be listed on Bahrain Bourse
18 January 09:48 PM NBB acquires 78.8% stake in Bahrain Islamic Bank
Mubasher: The National Bank of Bahrain (NBB) on Saturday announced that its offer to acquire up to 100% of the paid-up ordinary shares of the Bahrain Islamic Bank (BisB) resulted in the control of a 78.8% stake in the Islamic bank, according to …
Non-oil exports grew 14% YoY in H1-19
18 January 07:50 PM UAE’s non-oil exports to total AED 240bn in 2019
UAE – Mubasher: The value of the UAE’s non-oil exports is expected to reach AED 240 billion in 2019, undersecretary of the Emirati economic ministry for foreign trade, Abdulla Al Saleh stated on Saturday. The country’s non-oil exports grew 14% …
18 January 07:12 PM Toshiba’s CEO to add title of president in April 2020
​​​​​​​Mubasher: CEO of Japanese multinational conglomerate Toshiba Corporation is set to add the title of president in April 2020, Bloomberg reported on Saturday.
Kuwaiti economy is still dependent on oil returns
18 January 04:26 PM S&P affirms Kuwait's credit rating at ‘AA’; Outlook stable
Mubasher: Standard and Poor's (S&P) has affirmed Kuwait's credit rating at (AA) with a stable outlook, the Kuwait News Agency reported on Saturday. The rating agency said that the Kuwaiti economy is still dependent on oil returns, which accounts …
17 January 08:39 PM Commercial, military satellites market to record $195.11bn in 8 years
Mubasher: The global commercial and military satellite market is expected to record a CAGR of 76.6% to $195.11 billion in 2020- 2028.
17 January 04:44 PM Volkswagen to acquire $560m stake in Chinese EV battery maker
Mubasher: Volkswagen is nearing the closure of a deal to acquire a 20% stake in China’s electric vehicle battery maker Guoxuan High-tech Company.
The industrial sector surged 4.14%
17 January 03:53 PM Bahrain Bourse gains over 42 pts in week
Mubasher: The Bahrain Bourse’s general index grew by 42.37 points, or 2.65%, to reach 1,639.7 points in a week, with the commercial banking sector rose by 4.19%. The industrial sector surged 4.14%, while the investment sector added 0.27% and the …