September 2020 29 www.bahrainthismonth.com business bites BENEFIT has collaborated with ThinkSmart for a special project, Forsati, which aims to build future IT leaders of Bahrain. The initiative is in partnership with Microsoft, and aims to empower top Bahraini graduates with sought-after skills, preparing them for in-demand jobs. Selected Bahraini graduates joining #TeamBENEFIT will be undergoing Microsoft’s job-role training and professional certifications, aligned with the industry and technical roles and requirements. Students will also be provided with career coaching and mentoring, ultimately improving their employability chances for emerging jobs such as Fintech Analyst, AI Engineers, Data Scientist, Software Developers and Solution Architect. “BENEFIT is pleased to support such an important initiative, in line with our mission to provide innovative solutions and encourage young Bahraini talents. We are confident in this initiative that will support the community as a whole, leading to sustainability and economic development for the Kingdom of Bahrain, in line with Team Bahrain’s initiatives,” said BENEFIT Chief Executive, Abdulwahed AlJanahi. Through this initiative, BENEFIT is leading the way for Bahrain’s economic and community development, by preparing Bahraini youth for key positions in all sectors. TECHNOLOGY IS THE FUTURE Lenovo Group has announced that the group revenue in the first quarter of US$13.3 billion is up almost 7% year-on-year (up 10% year-on-year excluding currency impact). Pre-tax income grew 38% compared to the same quarter a year earlier, to US$332 million, while net income also increased by 31% year-on-year to US$213 million. Basic earnings per share for the first quarter were 1.80 US cents or 13.95 HK cents. Lenovo’s Intelligent Devices Group (IDG) continues to lead the company’s strong performance. The PC and Smart Devices Group (PCSD), one of the two IDG business units, grew revenue by double digits year-on-year to US$10.6 billion. Pre-tax income reached US$670 million, up nearly 28% year-on-year, while industry-leading profitability improved by almost 1 point to a new record of 6.3%. The PC market significantly outperformed the industry forecast of a market decline, with Lenovo retaining its #1 leadership position in the worldwide PC Devices market (PC and Tablets). Similarly, there was strong year-on-year growth (45%) in Consumer business revenue worldwide. Driven by these successes, revenue grew 30% in EMEA and 18% in China. AN OUTSTANDING PERFORMANCE The National Bank of Bahrain (NBB) has entered a partnership agreement with Infosys Finacle, part of EdgeVerve Systems, a whollyowned subsidiary of Infosys (NYSE: INFY), to adopt the Finacle Cash Management Suite, which will allow the Bank to digitally transform its transaction banking business. The adoption of the suite will allow the bank to offer a comprehensive range of services to corporate customers, while providing them with access to a range of digital cash management services, such as selfservice mode and the ability to streamline payments. This new development will also enable NBB to manage customer preferences and entitlements more effectively across channels. “The front-to-back integrated cash management solution from Infosys Finacle will help deliver a world-class banking experience to our corporate and institutional customers, thereby driving the growth of our transaction banking business even further,” said NBB Corporate and Institutional Investment Banking, Hisham Al Kurdi. The new update will further streamline corporate customer payments, help manage liquidity and minimise financial risks. TRANSFORMING TRANSACTION BANKING
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