Monday 30 November 2015

GCC states urged to introduce taxes

GCC needs to bring in taxes and do away with subsidies by 2020 to ensure fiscal sustainability, a leading thinker has warned. Iraq Energy Institute founder and director Luay Al Khatteb said the GCC countries can no longer rely solely on oil revenues to finance their budgets, reported the


Sico delists two funds from Bahrain Bourse

Securities and Investment Company (Sico) has delisted two of its funds – Sico Arab Financial Fund (SAFF) and Sico Money Market Fund (SMMF) – from Bahrain Bourse (BHB). This follows a formal request by the bank to BHB earlier in the month, said a report in the Gulf Daily News (


Trust Re gross written premium hit $384m

Trust Re generated gross written premium of $384.2 million in the first nine months of this year.  This represents a rise of 0.8 per cent from the $381.3 million reached in the same period last year, said a report in the Gulf Daily News (GDN), our sister publication.


KBBO hires banks for subsidiary London listing

UAE's investment company KBBO Group has hired Goldman Sachs and Morgan Stanley among others for an expected $1 billion-plus London listing for one its subsidiaries, sources close to the matter told Reuters. Privately-owned KBBO plans to sell up to 40 per cent of Centurion Par


Kafa’a opens services for Qatar’s finance Sector

Kafa’a, a championing training and competency framework and initiative aimed at advancing Qatar’s financial services sector, has officially opened its doors at an event in Doha, Qatar. Kafa’a was officially started by Qatar Finance and Business Academy (QFBA) in March


Global experts for economic forum in Bahrain

Global decision-makers will discuss economic development against the backdrop of regional instability at the first Bahrain Bay Forum in Manama, Bahrain, a report said. Organised by the International Institute for Strategic Studies (IISS), the two-day event the Four Seasons Hotel


Tamkeen, Ithmaar launch new finance scheme

Ithmaar Bank and Bahrain’s labour fund Tamkeen yesterday (November 28) announced the launch of a joint financing solution designed specifically to support private sector enterprises in the kingdom. The announcement follows an agreement earlier this year to add BD10 million


HSBC whistleblower Falciani gets 5 years jail

Herve Falciani, an ex-employee of HSBC's Geneva private bank who leaked information on clients and their tax situation, has been sentenced to five years in prison for aggravated industrial espionage, the bank said on Friday. HSBC said it welcomed the ruling on Falciani, a 43-


Saudi money supply, loan data show economy slowing

Saudi Arabian money supply and bank lending figures show the economy of the world's biggest oil exporter has started to slow as low global energy prices force the government to clamp down on spending.   M3 money supply grew just 3.9 per cent from a year earl


Risk management, SME financing top Islamic banks agendas

Islamic banks around the globe view risk management, equity financing and deepening their client base as the most pressing issues facing the sector in coming years, a survey released on Friday showed.   The survey drew input from the heads of 83 Islamic finance

 1 2 3 4 5 >  Last ›

calendarCalendar of Events