Tuesday 6 December 2016

Nexus seeing continuous growth in 2016: CEO

Nexus Group, a major independent financial advisor in the region, recorded a 20 percent growth across its employee benefits and general insurance businesses in 2016, said the company’s CEO. Speaking at the firm’s Annual General Meeting, where the company commemorated


Islamic banking assets surge to $924bn in 2015

The assets of Islamic banking reached $924 billion in 2015, with growth rates declining across all regions compared to previous years, says a new report from professional services firm EY. The GCC region’s share of participation banking increased to 72 per cent, as the size


Nasdaq Dubai sees sharp rise in futures trading

Trading on Nasdaq Dubai’s equity futures market increased rapidly in November as new investors entered the market. A total of 222,829 contracts traded during the month, up 116 per cent from 103,393 in October.  The leading contracts by volume in November were Union Pro


Report highlights role of venture capital

New crowd-funding regulations and expanding existing bankruptcy laws are key steps that Bahrain needs to take for enabling venture capital-led economic development, said the Gulf Daily News, our sister publication, citing a new report. To read further, please visit


WIBC opens first edition of key fintech event

The World Islamic Banking Conference (WIBC) on Monday became the key platform to the inauguration of an exclusive event on FinTech and Digital Banking - Enterprise Excellerate (E2) and the IIFM seminar on Sukuk and Islamic Trade Finance. In attendance were Islamic finance leaders


Saudi non-oil sector rebounds from October low

Saudi Arabian non-oil private sector growth rebounded in November, following a back-to-back slowdown in September and October, a report said. Output, new orders, purchasing activity and input stocks all rose sharply and at faster rates than in the prior month, according to the la


UAE non-oil sector regains momentum in Nov

The UAE’s non-oil private sector regained some growth momentum in November, thereby reversing the slowing trend seen in each of the prior three months, a report said.  A robust expansion of new work was a key factor behind improving business conditions, according to th


Saudi central bank gets new name

Saudi Arabian Monetary Agency, the kingdom's central bank, has changed its name to Saudi Arabian Monetary Authority. The acronym SAMA, however, remains unchanged, said the Saudi central bank in a statement. All existing agreements, obligations and contracts und


Saudi leads positive regional markets

All of the regional markets ended their trading activity over the course of last week in the positive territory with Saudi Arabia leading with a rise of 4.37 per cent, while breaking its 7,000-resistance level, a report said. The upward trend was followed by Qatar +2.05 per cent


Investcorp buys stake in Spanish group Agromillora

Bahrain-based Investcorp, a global provider and manager of alternative investment products, said it has completed the acquisition of a majority stake in Spanish group Agromillora. Founded in 1986 in Barcelona, Agromillora is a leading global developer of high yielding plants and

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