Thursday 25 December 2014

Adib in tie-up to promote financial education

Abu Dhabi Islamic Bank (Adib), a top-tier Islamic financial services institution, has signed a partnership agreement with the UAE’s Ministry of Social Affairs to promote financial education. Adib will support the "Tejuri" initiative, which is being implemented by


Saudi plans to raise spending in 2015 budget, run deficit

Saudi Arabia plans to raise government spending by 0.6 per cent to a record high next year while covering a large budget deficit due to plunging oil prices with its huge fiscal reserves, the Ministry of Finance said on Thursday. Spending in the kingdom's 2015 state budget is


Oman's Bank Dhofar to raise capital, issue debt

Oman's Bank Dhofar, the third-largest lender in the sultanate by assets, plans to boost its capital by issuing up to 115.5 million rials ($300 million) of Tier 1 capital instruments in 2015, it said on Thursday. In addition, the bank said it would issue up to $500 million of


Grant Thornton posts 23pc growth for 2014

Grant Thornton Abdulaal, a professional services firm and a member firm of Grant Thornton International, has posted a growth of 23 per cent this year, the company's top official said. "It has been a great year for Grant Thornton in Bahrain and over the years, we have ste


UAE cenbank to study margin lending in stock market

The United Arab Emirates central bank discussed margin lending at a board meeting this week and ordered that all aspects of the issue be studied, the central bank said on Wednesday. In a brief statement describing discussions at the board meeting, the central bank did not elabora


Dubai Customs discusses bilateral trade with Oman 

A top Dubai Customs official praised the development of trade co-opeartion with Oman, affirming the it supports the economic and trade relationship between the UAE and the Sultanate. Ahmed Mehboob Musabih, director of Dubai Customs, during his visit to the Commercial Office of Om


Saudi British Bank eyes $4bn capital boost

The board of Saudi British Bank, an affiliate of HSBC Holdings, has recommended boosting the bank's capital by 50 per cent to SR15 billion ($4 billion) through an issue of bonus shares, it said on Wednesday. One bonus share would be issued for each two shares held, increasing


KFH-Bahrain banks WIBC as ‘gold strategic partner’

Kuwait Finance House – Bahrain (KFH-Bahrain) supported the 21st annual World Islamic Banking Conference (WIBC) as gold strategic partner. More than 1,200 industry leaders, senior decision makers and key regulators from more than 50 countries gathered at the event which was


Abu Dhabi’s DoF launches internal excellence award

The Abu Dhabi Department of Finance (DoF) has launched the ‘Nibras’ internal excellence award, designed in order to enhance internal processes and to encourage the department’s various organisational units to fulfil their tasks and meet expectations. The award h


Banking drops to 4th place as career choice in UAE

Banking ranked fourth most popular industry to work in for business students from the UAE, falling from second-most popular in the space of one year, a report said. Airports and airlines, software companies and the fast-moving consumer goods (FMCG) sector were the top preferred p

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