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Gulf must consider flexible exchange rate: bankerQatar and other Gulf states should consider moving to a more flexible exchange rate from long-entrenched pegs to the US dollar, to better manage inflation risk in the next decade, a senior Qatar central bank official said on Tuesday. More… |
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Productivity, trade 'key to Bahrain growth'The productivity growth – particularly in tradable sectors such as manufacturing – should be at the centre of sustained economic growth in Bahrain, said a top economist in the kingdom. Dr Jarmo Kotilaine, the chief economist at the Bahrain EDB, was speaking at a semin More… |
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Arqaam Capital advises Magrabi on key acquisitionDubai-based Arqaam Capital, an emerging markets investment bank, said today that it acted as the exclusive financial adviser to Cairo-based Magrabi Retail in the purchase of a controlling stake in the Turkish optical retailer, Sisli Optik Ticaret. Magrabi participated in a More… |
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NBK to fund hospital expansionNational Bank of Kuwait (NBK) has signed an agreement with a joint venture firm led by Associated Construction Company (Asco) to finance the ongoing expansion work at Al Amiri Hospital, a leading healthcare unit in the country. The KD98 million ($348.1 million) project is part of More… |
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Doha Bank may sell bonds to raise capitalQatar's Doha Bank could issue a capital-boosting bond instead of shares as planned, although it was evaluating the best route to help raise core capital, its chief executive said. The Gulf Arab state's fifth-largest lender by market value had said in January it would hike More… |
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Reuters launches Islamic finance indicatorThomson Reuters, the world’s leading provider of intelligent information for businesses and professionals, has launched an Islamic finance development indicator in collaboration with the Islamic Corporation for the Development of the Private Sector (ICD), the private sector development ar More… |
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IMF 'not worried about Dubai debt obligations'The International Monetary Fund is not worried about Dubai's ability to meet its upcoming debt obligations, Masood Ahmed, director of the IMF's Middle East and Central Asia department, told reporters on Tuesday. More… |
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Nonoo Exchange opens Riffa branchBahrain-based Nonoo Exchange Company (NEC) opened its 16th branch in East Riffa yesterday. The event was held under the patronage of Sheikh Abdulrahman bin Ali Al Khalifa, general director of land registration. The opening was attended by Ebrahim Janahi, CEO of Mode Holdings, and More… |
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Inflation a risk for strong Saudi economy: IMFSaudi Arabia faces a possible inflation risk due to buoyant growth that may warrant policy action to prevent the economy from over-heating, the International Monetary Fund said. In a regular assessment of t More… |
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Ahli United expands key POS serviceBahrain-based Ahli United Bank (AUB) is rapidly expanding point of sale (POS) acquiring in the kingdom with its hitech systems and terminals and innovative features. This is to meet the growing needs and expectations of retail chains, hospitality, travel, telecom, utility service More… |
