Monday 20 November 2017

India’s PHD Chamber opens first international office in Bahrain

PHD Chamber of Commerce and Industry, a leading industry chamber in India with over 112 years of history, has opened its first international office in Bahrain to promote bilateral trade between India and the entire GCC region.   PHD Chamber president Anil Khaita


QInvest completes US murabaha transaction

QInvest, a leading private investment group in Qatar, has announced the exit of a real estate mezzanine murabaha transaction in the US. The transaction, backed by a diversified portfolio of 17 assets, generated an IRR of 14.9 per cent (representing a 1.23x multiple) over 20 month


Tadawul to hold crisis management workshop

The Saudi Stock Exchange (Tadawul) will host a workshop for listed Saudi companies at its headquarters in Riyadh on November 22, which covers crisis preparedness and its impact on shareholder value. It will be presented by Robert McAllister, global crisis management expert at Ins


Saudi banks Q3 income edges up marginal 0.4pc

The consolidated net income of Saudi Arabian banks was only marginally higher in the third quarter (Q3) of 2017, at 0.4 per cent quarter-on-quarter (q-o-q), resulting in an increase of 14.3 per cent year-on-year (y-o-y), a report said. The restriction on net income growth came ab


Abu Dhabi, Alberta in bid to boost bilateral trade

Officials from the of Emirate of Abu Dhabi and the Canadian State of Alberta have discussed ways of accelerating economic and investment cooperation, with a special emphasis on the petrochemicals, aviation, agriculture, food, education and industry sectors. This came at a meeting


UAE banks federation unveils new brand identity

Reinforcing its pivotal role in driving the continuous growth and development of the country’s banking sector, the UAE Banks Federation, a professional representative body comprising 48 member banks operating in the UAE, has launched a new brand identity. Inspired by the UA


Japan's SoftBank to invest $25bn in Saudi Arabia

Japan's SoftBank Group plans to invest as much as $25 billion in Saudi Arabia over the next three to four years, a Bloomberg report said


Dubai non-oil foreign trade up 13pc to top $93bn in Q3

Dubai’s non-oil foreign trade increased to Dh344 billion ($93.6 billion) in the third quarter of 2017, an increase of 13 per cent year-on-year from Dh305 billion in the corresponding quarter of last year, a report said. Re-exports were the key driver of growth in the quarte


Kuwait non-oil growth set to rise to 4pc: IMF

Kuwait’s non-oil growth is projected to increase gradually to about 4 per cent driven by accelerated project implementation under the 5-year development plan and improved confidence, said the International Monetary Fund (IMF). Hydrocarbon output is forecast to increase by 4


EFG Hermes Q3 profit surges 476pc to top $13m

EFG Hermes, a leading financial services corporation in Mena, posted a net profit of EGP237 million ($13.4 million) after tax and minority interest for the third quarter (Q3) of the year, marking an increase of 476 per cent. The Group’s strong performance in the third quart

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