Sunday 14 February 2016

GFBTU forum to focus on economic challenges

Present economic challenges will be the focus of a meeting of a major trade union federation next month in Bahrain, a report said. Social security and trade union rights will also be discussed at the general assembly of the General Federation of Bahrain Trade Unions (GFBTU) to be


Khalifa Fund gears up for microfinance summit

The Microcredit Summit Campaign and Khalifa Fund for Enterprise Development will jointly host the 18th Microcredit Summit in Abu Dhabi next month. 'The 18th Microcredit Summit:Frontier Innovations in Financial Inclusion' will gather global policy makers and microfinance e


Shuaa Capital revenue falls to $48m in 2015

Leading UAE investment bank Shuaa Capital has registered a sharp drop in its net revenue for 2015 which fell to Dh178.2 million ($48.5 million) compared to the previous year's Dh213.4 million ($58 million). The company posted an overall loss of Dh190.3 million in the fourth q


Dubai Holding unit's net profit up 25pc

Dubai Holding Commercial Operations Group, a business group of Dubai Holding, said on Saturday its 2015 net profit grew 25 per cent to Dh5.83 billion ($1.59 billion). The group's total revenues were up 15 per cent at 14.53 billion compared to 12.63 billion a year ago, a state


Moroccan bank BCP to invest $41m in Islamic unit

Banque Centrale Populaire (BCP), one of Morocco's three biggest banks is preparing to invest 400 million dirhams ($41 million) in an Islamic subsidiary, a director of the bank said. Islamic banks and insurers are being established in Morocco after the government and parliamen


Khaleeji Commercial opens new branch in Juffair

Bahrain-based Khaleeji Commercial Bank (KHCB), a leading Islamic retail bank, has inaugurated a new branch located in Juffair Mall. The opening of the new branch was held under the patronage of Central Bank of Bahrain executive director of banking supervision Khalid Hamad, who was accompanied


Mubadala seeks $2bn loan refinancing

Abu Dhabi state-owned investment fund Mubadala is talking to banks to raise a loan worth up to $2 billion, which it plans to close in the first half of the year, banking sources aware of the matter told Reuters on Thursday.   The company is in talks with local a


Asian shares slip as bank fears add to global gloom

Asian shares slipped on Friday as mounting concerns about the health of European banks further threatened a global economic outlook already under strain from falling oil prices and slowdown in China and other emerging markets.   The prices of yen, gold and liqui


Gold surges to one-year high

Gold surged nearly 4 per cent on Thursday to its highest in a year as fears about financial instability, a lower dollar and US Treasury yields persuaded investors to seek refuge in the precious metal. Traders said financial instability fears were fuelled by European bank shares s


Middle East Healthcare share sale in March

Saudi Arabia's Middle East Healthcare Company, which postponed its public share sale last month, has rescheduled its offering to run from March 3-9, the market regulator said. The Capital Market Authority on January 18 said the company requested postponing its initial public

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