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Saudi Economy Expands on 29 April 2019 at the Gulf Hotel, Manama

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Saudi Economy Expands on 29 April 2019 at the Gulf Hotel, Manama 10 MONDAY, APRIL 1, 2019 business US cuts aid for C. American countries Washington, United States Instant debit cards from Ithmaar Bank Northern Triangle (of Central TDT | Manama he United States cut off aid America),” a State Department Personal Identification Number it card. We addressed this by Tto several Central Ameri- spokesperson said. (PIN) by SMS on their registered bringing the process of physi- can countries President Don- The “Northern Triangle” in- thmaar Bank, a Bahrain-based mobile number,” a statement cally issuing Debit Cards direct- ald Trump accuses of doing cludes El Salvador, Guatemala IIslamic retail Bank, said deb- said. ly into branches,” said Ithmaar nothing to stop the outflow of and Honduras, where tens of it cards will be issued instant- Customers, Ithmaar said, will Bank Chief Executive Officer, US-bound migrants, the State thousands of migrants have ly from all 16 branches in the be required to change this PIN Ahmed Abdul Rahim. Department announced Sat- fled poverty and violence in bank’s retail network. through any Ithmaar Bank ATM Ithmaar Bank said it allows urday. recent years to try to enter the The service is available when in order to start using their new round the clock access to bank- At the instruction of Sec- United States. opening a new account, request- card. “They will also be able to ing services both on the Bank’s retary of State Mike Pompeo, Over the last two years, $1.3 ing a debit card or requesting receive instant PIN reissuance network of 45 ATMs, the Bene- “we are carrying out the pres- billion was earmarked for Cen- card replacements. for their Debit Card from the fit network in the Kingdom of ident’s direction and ending tral America for US official de- “Customers can immediately branch.” Bahrain, the GCCNet network FY 2017 and FY 2018 foreign velopment aid, most of it to collect their new Debit Card, “We recognised, for example, in the Gulf Cooperative Council assistance programs for the these three countries. with their name already printed, the inconvenience of opening (GCC) region and internationally directly from the branch upon a new account then having to through the Mastercard net- opening their accounts. They wait a few days or even, for that Ahmed Abdul Rahim work. In addition, to eBanking will then instantly receive their matter, a single day for the deb- services. CBB’s Asset Management Forum TDT | Manama he Central Bank of Bahrain Tannounced the fourth edi- tion of the Middle East Asset Management Forum (MEAMF) Saudi economy expands on 29 April 2019 at the Gulf Hotel, Manama. Reuters | Dubai The forum will be held in Saudi Arabia’s economy grew partnership with Global In- by 2.21pc in 2018, government vestor Group, part of the re- audi Arabia’s economy data showed in January, without nowned Euromoney plc group. grew in the fourth quar- breaking down fourth-quarter Over 200 international in- Ster of last year at its fast- figures. dustry leaders are expected est rate since early 2016 due to Last week, state-owned to converge for the one-day an expansion in the oil sector, Saudi Aramco announced it event which will explore statistics agency data showed had agreed to buy a majority how the asset management yesterday. stake in Saudi Basic Industries industry is responding to a Fourth-quarter gross domes- Corp (SABIC) from the Saudi changing investment land- Abdulrahman Al Baker tic product grew by 3.59 per sovereign wealth fund, Pub- scape and global economic cent from a year earlier. In the lic Investment Fund (PIF), for uncertainty. ecutive Director of Financial third quarter, annual growth $69.1 billion. Key topics in this year’s Fo- Institutions Supervision at the was 2.5pc. The deal could boost eco - rum include global economic CBB, said: “We look forward “The oil sector led the re - nomic growth as the sovereign outlook, robo-advisory, reg- to welcoming our esteemed covery in the final quarter, re- Representative picture (Courtesy of Asharq Al Awsat) fund gains more firepower to ulatory landscape, real estate guests and colleagues from all flecting stronger production, Commercial Bank. “We expect the headline proceed with its plans to cre- investments and more. over the world, to this integral particularly at the beginning of While the oil sector grew by growth figure to moderate in ate jobs and diversify the larg- Commenting on the event, event for the Middle East asset the quarter,” said Monica Malik, almost 6pc year on year, growth 2019 as Saudi implements oil est Arab economy beyond oil Abdulrahman Al Baker, Ex- management industry.” chief economist at Abu Dhabi in the non-oil sector was 1.8pc. production cuts,” Malik said. exports. Britain’s May under pressure to forge softer Brexit divorce deal Parliament will vote on differ- it is unclear who would lead the The Sunday Times ent Brexit options on Monday Conservatives into it. said• May’s media chief, and then May could try one last The Sunday Times said May’s roll of the dice by bringing her There are no ideal media chief, Robbie Gibb, and Robbie Gibb, and her deal back to a vote in parliament choices available and her political aide Stephen Par- political aide Stephen as soon as Tuesday. there are very good kinson were pushing for an elec- Parkinson were pushing “There are no ideal choices tion against the will of her chief available and there are very good arguments against enforcer in parliament, Julian for an election arguments against any possible any possible outcome Smith. outcome at the moment but we at the moment but we The Conservative Party’s dep- Supporters of are going to have to do some - are going to have to do uty chair, James Cleverly, said Brexit• say the divorce thing,” said Justice Secretary Da- something it was not planning for an elec- in the longer term vid Gauke, who voted in the 2016 tion. But the deputy leader of the referendum to stay in the EU. opposition Labour Party, Tom will allow the United JUSTICE SECRETARY DAVID GAUKE, WHO “The prime minister is reflect- VOTED IN THE 2016 REFERENDUM TO STAY Watson, said his party was on Kingdom to thrive ing on what the options are, and IN THE EU election footing. is considering what may happen Labour’s foreign affairs Reuters | London but I don’t think any decisions spokeswoman, Emily Thorn- have been made,” he told BBC TV. berry, said it could try to call a ritain’s exit from the Euro- Many in May’s party, though, vote of no confidence in May’s Bpean Union was in disarray have lost patience. The Sun government. after the implosion of Prime newspaper reported that 170 of “We don’t know if she is going Minister Theresa May’s Brexit her 314 Conservative lawmakers by a political elite that has failed to remain prime minister, if we strategy left her under pressure had sent her a letter demanding to show leadership. are going to get somebody else, from rival factions to leave with- that Brexit take place in the next Parliament is due to vote at who that other person is going out a deal, go for an election or few months - deal or no deal. around 1900 GMT today on a to be - it is a mess,” Thornberry forge a much softer divorce. The United Kingdom was due range of alternative Brexit op- said. After one of the most tumul- to leave the EU on March 29 but tions selected by Speaker John Opponents of Brexit fear it tuous weeks in British politics the political deadlock in London Bercow from nine proposals put will make Britain poorer and di- since the 2016 referendum, it forced May to ask the bloc for a forward by lawmakers, includ- vide the West as it grapples with was still uncertain how, when or delay. Currently, Brexit is due to ing a no-deal exit, preventing a both the unconventional U.S. even if the United Kingdom will take place at 2200 GMT on April no-deal exit, a customs union, or presidency of Donald Trump ever leave the bloc it first joined 12 unless May comes up with a second referendum. and growing assertiveness from 46 years ago. another option. “We are clearly going to have Russia and China. A third defeat of May’s divorce to consider very carefully the Supporters of Brexit say while deal, after her pledge to quit if it “IT IS A MESS” will of parliament,” Gauke said. the divorce might bring some was passed, left one of the weak- The labyrinthine Brexit crisis With no majority yet in the short-term instability, in the est leaders in a generation grap- has left the United Kingdom di- House of Commons for any of longer term it will allow the pling with a perilous crisis over vided: supporters of both Brexit the Brexit options, there was United Kingdom to thrive if cut Brexit, the United Kingdom’s and EU membership marched speculation that an election free from what they cast as a most significant move since through London last week. Britain’s Prime Minister Theresa May (L) arrives with her husband Philip (R) to could be called, though such a doomed attempt in European World War Two. Many on both sides feel betrayed attend a church service, near her Maidenhead constituency, west of London vote would be unpredictable and unity..
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