Saturday 19 April 2014

Egypt central bank 'to keep interest rates on hold'

Egypt's central bank will keep interest rates on hold next Thursday as it balances the need to fight inflation while supporting the currency and stimulating an economy battered by more than three years of upheaval, a Reuters poll showed. Annual urban consumer inflation remain


Qatar touches 8-year high, AUB boosts Bahrain

Qatar's bourse continued to outperform the region on Thursday but failed to break through major technical resistance. Meanwhile, Ahli United Bank lifted Bahrain's stock market on news it might be sold or merge. The Doha bourse closed up 0.8 percent at 12,55


Mubadala income triples to $1.44 billion

Mubadala Development Company (Mubadala), the Abu Dhabi-based investment and development company, tripled its total comprehensive income in 2013 to Dh5.3 billion ($1.44 billion), compared to Dh 1.6 billion in 2012.      The results were primarily driven by the signif


AUB 'can't comment' on sale report

Ahli United Bank , Bahrain's largest lender, said on Thursday it couldn't comment on a Reuters story linking it with a possible sale or merger deal. "This news has not been issued from the bank's management and we do not know its source, so we cannot comment on i


Insurance House profit up 29pc in Q1

Insurance House (IH) has registered a total comprehensive profit of Dh4.49 million ($1.22 million) during the first quarter of the year, nearly 29 per cent higher than the total comprehensive profit of Dh3.48 million recorded during the same period last year. Gross Premiums Writt


Bahrain seeks to lift trade with Russia

Bahrain is seeking to boost trade ties with Russia, particularly in the industrial, oil and gas sector, a report said. A Russian delegation on a visit to Bahrain held meetings with Industry and Commerce Minister Dr Hassan Fakhro and Finance Minister and Minister in charge of Oil


Al Baraka unit wins Global Finance award

New York-based Global Finance magazine has named the Arab Banking Corporation-Algeria (ABCA) as the "Best Emerging Markets Bank in Algeria" for 2014. ABCA is a subsidiary of the Bahrain-based Arab Banking Corporation Group, reported the Gulf Daily News, our sister publi


Open up to Asia, urges Bahrain King

Bahrain has to gear up to face global economic challenges and open up on promising Asian investment zones, His Majesty King Hamad said.   In wide-ranging comments to editors-in-chief of local newspapers, he described his historic visit to Kazakhstan as an outrig


KHCB signs property finance solutions deal

Bahrain-based Khaleeji Commercial Bank (KHCB) has signed a memorandum of understanding (MoU) with Dilmunia at Bahrain development manager Ithmaar Development Company for providing property finance solutions. The bank will offer solutions to potential buyers of units in Dilmunia i


KFH-Bahrain backs key Sharia forum

Kuwait Finance House – Bahrain (KFH-Bahrain) was the Gold Sponsor of the recently held 13th Annual Sharia Conference at the Gulf Hotel. It was held under the patronage of the Central Bank of Bahrain and organised by the Accounting and Auditing Organisation for Islamic Finan

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