Thursday 10 July 2014

DME Oman volumes top 1bn barrels of crude in H1

DME Oman Crude Oil Futures Contract (DME Oman) the flagship exchange of the Dubai Mercantile Exchange (DME), traded more than 1.13 million contracts (equivalent to 1.13 billion barrels of crude oil) in the first six months of 2014. It posted an average daily volume trading growth


Barclays appoints key official for Mideast

Barclays has appointed Jeroen Reyes Stolker as head of Trade & Working Capital for the Middle East region. Reporting to Baihas Baghdadi, managing director, head of Trade & Working Capital International at Barclays, Stolker will be responsible for leading the trade and wor


ADS Securities appoints new MD

ADS Securities, a leading independent forex trading services company in the Middle East, has appointed Iskandar Najjar, the former CEO of Alpari ME, as the managing director for the region.   In his new role, Najjar will report to Philippe Ghanem, vice-chairman


Dubai, Abu Dhabi bourses shelve merger plan

A planned merger of the Dubai Financial Market and the Abu Dhabi Securities Exchange (ADX) has been shelved for the foreseeable future as terms for the politically sensitive move could not be agreed, sources told Reuters on Thursday. Having been mooted for a number of years, a me


BAB releases retail banking guide

Bahrain Association of Banks (BAB) has announced the release of 'The Handbook of Retail Banking,' billed as an essential guide to the retail banking industry in Bahrain. The handbook takes a practical look at retail banking services and products including basic current ac


Qatar cuts stake in London Stock Exchange group

Qatar Holding is set to slash its 15 per cent stake in the owner of the London Stock Exchange by a third, ahead of the British company's $1.6 billion rights issue to help it buy US indexes group Frank Russell, reported the Telegraph, citing sources. The sovereign wealth fund


Bahrain in deal to promote SMEs growth

The Economic Development Board (EDB) has signed an agreement with the Islamic Corporation for the Development of the Private Sector to promote the growth of small and medium enterprises (SMEs) in Bahrain. This will be done by providing support, Sharia-compliant products and train


Banque Saudi Fransi ups H1 dividend

Banque Saudi Fransi's board has proposed a cash dividend of 0.45 riyals ($0.12) per share for the first half of 2014, the Credit Agricole affiliate said. The proposed figure, announced in a Riyadh stock exchange filing, is above the 0.3 riyals per share which the bank paid fo


SABB Q2 profit up 15pc, beats estimates

Saudi British Bank (SABB), the kingdom's fifth-largest listed lender by assets, posted a 15.2 per cent increase in its second-quarter net profit, it said in a bourse statement on Wednesday, beating analyst forecasts. The bank, an affiliate of HSBC Holdings, said it made 1.16


Dubai-Canada trade sees 61pc growth

Dubai’s foreign trade with Canada recorded a 61 per cent growth in the first quarter of the year valued at Dh2 billion ($544.3 million) as compared to Dh1.3 billion for the same period last year, said a top official.   At a meeting in Canada with Canadian

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