Business & Money | Tuesday 2 July, 2019 2:36 pm

EY appoints Matthew Benson as Transaction Advisory Leader

EY appoints Matthew Benson as Transaction Advisory Services Leader across the Middle East and North Africa (MENA) region, leading a team of transaction professionals across 16 countries and 21 offices, effective 01 July 2019. Abdulaziz Al-Sowailim, MENA Chairman and CEO, EY,...

More Details

Business & Money | Tuesday 2 July, 2019 12:59 pm

Careem Ends Sudan Operations as Part of Uber Takeover Deal

Careem has ended operations in Sudan as part of its planned takeover by Uber, a spokeswoman said on Monday, less than a year after the Middle Eastern ride-hailing firm launched in the country. Careem began operations in Sudan in September 2018 after the US lifted economic sanctions in...

More Details

Business & Money | Tuesday 2 July, 2019 12:51 pm

OPEC and Allies Set to Extend Oil Supply Cuts, Prop Up Prices

OPEC and its allies led by Russia are set to extend oil output cuts until March 2020 on Tuesday to try to prop up the price of crude as the global economy weakens and US production soars. The alliance, known as OPEC+, has been reducing oil supply since 2017 to prevent prices from sliding amid...

More Details

Business & Money | Tuesday 2 July, 2019 12:11 pm

Datamena Wins ‘Data Centre Project of the Year’ at Network Middle East Innovation Awards

datamena, the fastest growing carrier neutral data centre and connectivity platform based in the UAE and serving the Middle East and Africa (MEA) region, from Emirates Integrated Telecommunications Company (EITC), has been named the ‘Data Centre Project of the Year 2019’ at the latest...

More Details

Business & Money | Tuesday 2 July, 2019 12:05 pm

Award-winning Saudi medical app aiming to take world by storm

The founders of an award-winning Saudi app, aimed at revolutionizing the provision of care and educational services for people with special needs, are hoping to take the world by storm. Ynmo (@ynmodata), which means “to grow” in Arabic, is the first Arabic-English digital solution of...

More Details

Business & Money | Tuesday 2 July, 2019 11:40 am

Visa Unveils Installment Payment Capabilities to Give Shoppers Simple and Flexible Way to Pay

Visa (NYSE: V) is making it easier to provide shoppers the ability to choose how they pay before, during or after purchase with the introduction of a suite of Visa’s installment solutions APIs. Through a pilot program, participating issuers and merchants will be able to offer their customers...

More Details

Business & Money | Tuesday 2 July, 2019 10:39 am

Beverages Industry Improves Brand Intimacy Slightly, Shifts from #12 to #11 Ranking, According to MBLM’s 2019 Brand Intimacy Study

The beverages industry enjoyed a slight lift in measuring its overall emotional connection with consumers this year, rising one rank to #11 out of 15 industries showcased in the 2019 Brand Intimacy Report. Nescafe in particular had a strong year, ranking #1 for the industry and dominating all...

More Details

Business & Money | Tuesday 2 July, 2019 10:00 am

UK economy feels the strain of global slowdown as well as Brexit

Britain’s economy has lost momentum and might have shrunk in the second quarter of 2019, according to data that showed the double impact of Brexit and the slowdown in the global economy. Manufacturers had their worst month in more than six years and consumers increased their borrowing at...

More Details

Business & Money | Tuesday 2 July, 2019 8:29 am

Remittances of Jordanian expats rise to USD1.5 billion, says CBJ

  Remittances of Jordanian expats rise to USD 1.5 billion, says CBJ The Central Bank of Jordan (CBJ) said the Jordanian remittances into the country has risen 5 percent on a monthly basis while increasing 2.3 percent at the end of June 2019.  The CBJ said in a statement published ...

More Details

Business & Money | Tuesday 2 July, 2019 12:00 am

ENBD REIT secures USD 177 million facility from Mashreq Bank

ENBD REIT (CEIC) PLC (“ENBD REIT”), the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has confirmed a USD 177 million (AED 650 million) Shari’a-compliant financing facility with Mashreq Bank. The facility will refinance ...

More Details