Thursday 30 October 2014

CBQ and subsidiaries post 19pc increase in profit

The Commercial Bank of Qatar, its subsidiaries and associates have posted a net profit of QR1.5 billion ($426.1 million) net profit for the first nine months of the year, up 19 per cent compared to the same period last year. The bank generated a net profit of QR503 million during


Funding access for SMEs in focus at Dubai summit

The global necessity for small and medium-sized enterprises (SMEs) to have access to funding was covered today at the World Islamic Economic Forum that concluded today (October 30) in Dubai. During a discussion on the opportunities and challenges SMEs face, Asad A Ahmed, managing


Bahrain funds buy US workforce services firm

Bahrain-based alternative investment fund Investcorp said on Thursday it and sovereign fund Mumtalakat had acquired US-based workforce management solution provider PRO Unlimited. PRO is a Florida-based software and services firm, operating in 52 countries with the aim of helping


Kingdom Holding Q3 net profit rises 20.5pc

Saudi Arabia's Kingdom Holding , the investment firm owned by billionaire Prince Alwaleed bin Talal, posted a 20.5 per cent rise in third-quarter net profit on Thursday, on the back of higher investment profits. Kingdom made a net profit of SR265 million ($70.6 million) in th


Islamic finance seen as norm for SME growth

Islamic finance will become a norm rather than an alternative in the near future, driving the growth of small and medium enterprises (SMEs) and Islamic trade, according to international banking professionals. SMEs play a large role in driving Islamic trade finance, said Hussain A


Bahrain’s EDB signs key deals to boost China ties

Three memoranda of understanding (MoU) were signed yesterday (October 29) in Shenzhen, China as the Bahrain business delegation continues its tour of China's principal commercial centres. The 10-day visit by the Economic Development Board (EDB) began on October 23 in Beijing,


Key international ratings boost for Al Baraka

Dagong Global Credit Rating Company and Islamic International Rating Agency (IIRA) have jointly assessed the international scale credit rating of Al Baraka Banking Group (ABG) at 'BBB+/A3' (Triple B Plus / A Three). In addition, IIRA has assessed ABG's national scale


Bahrain Bourse awarded full WFE membership

The general assembly and annual meeting of the World Federation of Exchanges (WFE) has approved to provide Bahrain Bourse (BHB) with a full membership status of the organisation during its 54th meeting at Seoul, South Korea. The WFE has voted for BHB to become its full member aft


Visa sees mobile payment as big growth driver

Visa Inc reported a better-than-expected adjusted quarterly profit and said the mobile payment industry would be "a great driver" for business, sending its shares up nearly 4 per cent in extended trading. The world's largest credit and debit card company and its com


Bahrain boost as trade set to be streamlined

Bahrain is ready to enter into a new era of streamlined trade. The kingdom, following the signing of the World Trade Organisation (WTO) Agreement on Trade Facilitation in December 2013 in Bali, is preparing to enter into a new trade bracket, said a report in the Gulf Daily Ne

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