Workers’ remittances increase 9% to $2.284 billion in September

KARACHI: Workers’ remittances increased by 9% MoM to $2.284 billion in Sep-2020, as against $2.095 billion in Aug-2020. Compared to the same month last year, remittances registered a rise of 31% (Sep-2019: $1.740 billion). This was the fourth consecutive month of remittances crossing the $2 billion mark. On MoM basis,… Continue reading

Guidepoint expands presence to Middle East and opens office in Dubai

NEW YORK — Knowledge Bylanes — Guidepoint, a leading New York-based expert network, expanded its international footprint to a brand-new market in the Middle East by establishing a presence in Dubai, United Arab Emirates. [the_ad id=”32940″]A full-service office has opened to enhance the firm’s ability to cater to a rapidly-growing… Continue reading

Al Safwa Mubasher launches latest online trading platform in Middle East

DUBAI: Al Safwa has announced the launch of the latest online trading platform in the Middle East to be the most comprehensive and most responsive version of Mubasher Trade Plus.[the_ad id=”31605″]The announcement comes in line with the company’s efforts to maintain a sustainable development strategy for its services and products… Continue reading

Weak growth in Pakistan weighs on the region’s aggregate growth rate: IMF

KARACHI: In the best of times, countries in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region would face a formidable task of creating jobs for the millions of young people entering the workforce, notes the International Monetary Fund (IMF) Economic Outlook of the Middle East, North Africa, Afghanistan,… Continue reading

Porta Communications and SEC Global evaluate all-share merger of the two companies

LONDON: The Boards of Porta Communications Plc and SEC Global have entered into discussions concerning a potential all-share merger of the two companies. The Potential Merger would create a strategic communications company of scale with offices in key markets across the UK, Europe, the Middle East, APAC and South America…. Continue reading

UAE’s Amlak Finance posts decline in profits for 2018

DUBAI, UAE: Amlak Finance PJSC, a leading specialized Islamic real estate financier in the Middle East, has announced its Full Year Financial Results for the year ended December 31, 2018, and reported net loss of AED 272 million at the end of December 2018 compared to AED 51 million net profit in… Continue reading

AL Safwa Mubasher becomes member of Dubai Gold and Commodities Exchange (DGCX)

DUBAI, UAE:  Al Safwa Mubasher has announced that it has officially been accepted as a member of the Dubai Gold and Commodities Exchange (DGCX), the leading exchange of commodity derivatives in the Middle East. [the_ad id=”32940″]The announcement comes in line with the company’s constant endeavor to diversify its investment opportunities… Continue reading

London Stock Exchange lists Qatar International Islamic Bank (QIIB) $500 million sukuk

LONDON: London Stock Exchange has listed Qatar International Islamic Bank (QIIB) $500 million sukuk in the presence of QIIB Chairman and Managing Director Sheikh Dr Khalid bin Thani al-Thani, Chief Executive Officer Dr Abdulbasit Ahmad al-Shaibei, Qatar Ambassador to the UK Yousef bin Ali al-Khater, UK’s Ambassador to Qatar Ajay… Continue reading

Emaar Malls accelerates digital transformation; acquires full stake of Namshi

DUBAI: Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties PJSC, has fully acquired Namshi, the leading regional fashion e-commerce retailer. This follows acquiring the remaining stake of Global Fashion Group (GFG) in Namshi, in an all-cash transaction of AED 475.5 million (Euro 114.3 million; US$ 129.5… Continue reading

Money laundering, terror financing: Pakistan on EU list of 23 states with deficiencies in framework

The European Commission (EC) has adopted the list of 23 countries, including Pakistan, with strategic deficiencies in their anti-money laundering and counter-terror financing frameworks. “Today, the commission adopted its new list of 23 countries with strategic deficiencies in their anti-money laundering and counter-terrorist financing frameworks,” said official statement issued by… Continue reading