Thursday 2 July 2015

Kuwait ‘may issue bonds to finance deficit’

Kuwait is considering issuing bonds among various options to finance a budget deficit created by low oil prices, Finance Minister Anas al-Saleh said on Thursday. "Going to the market and issuing bonds and so on, could it happen this year? Possibly yes," he said in an in


Saudi economy accelerates in first quarter

Saudi Arabia's economy accelerated in the first quarter of 2015, showing the world's top oil exporter can cope with low energy prices, but growth may slow as the government faces pressure to rein in spending. Gross domestic product, adjusted for inflation, grew 2.4 per ce


Al khaliji concludes internship programme in Qatar

Al Khalij Commercial Bank (al khaliji), a leading Qatari bank, has recently concluded a month-long internship programme for Carnegie Mellon University in Qatar students. The programme, which provided students with extensive exposure across business lines and branches, aimed at eq


Menacorp tops brokerage firms in UAE

Menacorp, a leading financial services firm in the UAE, has been ranked the number one brokerage firm in the emirates for the first half of the year in terms of trade value and market share, according to official data published by the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchan


Mideast mobile money transactions grow 58pc

The total value of mobile money transactions processed in the Middle East last year has grown at cumulative annual growth rate (CAGR) of 57.9 per cent over the period of 2009-2014, a report said. However, the user base is still very low as compared to other regions with only 2.1


Doha Bank raises $549m Tier 1 bond

Doha Bank raised QR2 billion ($549.3 million) through the issuance of capital-boosting bonds on Tuesday, Qatar's fifth-largest lender by assets said in a statement to the bourse on Thursday. In March, the bank said that it would issue capital-enhancing bonds with a perpetual


Omani banks sign deal on proposed merger

Oman’s Bank Sohar and Bank Dhofar have entered into a non-binding agreement on a proposed merger, the duo said, in the latest move towards consolidation in the country’s bloated banking sector. The two lenders agreed to proceed with due diligence, subject to receiving


RSA names new country manager for Bahrain

RSA, a provider of insurance services in the region, has appointed Adrian Pinto as the country manager for its Bahrain opeations with immediate effect. He will be reporting to the company’s Bahrain managing director and UAE chief executive Chris Dooley, said a report in the


Oman central bank sets up Islamic banking unit

The Omani central bank has established an independent department to handle Islamic banking, it said, in a step expected to help further growth of the country's fledgling sharia-compliant finance industry. Oman was the last country in the six-nation Gulf Cooperation Council to


Kingdom shares down after Alwaleed charity pledge

Shares in Kingdom Holding fall one per cent in thin trade after its chairman, billionaire Prince Alwaleed bin Talal, said he'll donate $32 billion to charity in coming years. He added that this will include assets inside and outside Saudi Arabia, including his personal stake

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