Tuesday 21 October 2014

BBK's net profit rises 8pc to $98m

Bank of Bahrain and Kuwait (BBK) has reported a net profit of BD37.3 million ($98.2 million) for the nine months ended September 30 this year, representing an eight per cent increase over the same period of last year. The earnings per share was 37 fils compared with 34 fils per s


GCC investment on 'track’ to create opportunities

GCC economies are perusing investments in the right direction, addressing infrastructure needs and investing in sectors that will create more opportunities in the long run, said a report. Standard Chartered has published the latest edition of its quarterly Global Focus. The repor


New push to bolster Bahrain-Thailand trade ties

Bahrain and Thailand discussed ways to enhance bilateral co-operation in the economic, trade, investment and cultural fields by activating the agreements and memoranda of understanding signed between them. They agreed to take optimum advantage of investment opportunities on offer


Chivas launches ‘The Venture’ in GCC

Chivas Regal has launched ‘The Venture’ in the GCC, as part of a global search for the most promising social entrepreneurs - those with businesses or ideas that use enterprise and innovation as a force for good. ‘The Venture’ is an international fund which


Takaud appoints new chief executive

Takaud, a specialist savings and pensions provider for the Middle East and North Africa (Mena) region, has appointed Luc Métivier as its new chief executive officer.   Métivier takes over from acting CEO Eric Van Biesen, who will resume his original role of chi


Mezzan Holding to sell 30pc of shares in IPO

Mezzan Holding, a Kuwaiti producer and distributor of food and fast-moving consumer goods, said on Monday it would float 30 per cent of its stock in an initial public offer, the country's first since the 2009 financial crisis. The company, whose revenue totalled KD141 million


Mezzan applies for listing on Kuwait Stock Exchange

Mezzan Holding has filed an application with Kuwait’s Capital Markets Authority to list on the Kuwait Stock Exchange (KSE). The company plans to list on the official bourse following a secondary offering of 88.95 million shares, representing 30 per cent of the company, led


Moody's changes Egypt's outlook to stable from negative

Moody's Investors Service has today (October 20) changed Egypt's outlook to stable from negative and affirmed its Caa1 government bond rating. Key drivers for the outlook change to stable from negative are the stabilised political and security situation, the launch of gov


StanChart readies to close thousands of UAE accounts

Standard Chartered has notified thousands of UAE small and medium enterprise customers it is closing their accounts as it responds to pressure from US regulators to cut its risks following an anti-money laundering settlement. "We regret to notify you that Standard Chartered


Gulf Capital $750m fund to invest in 10-12 firms

Abu Dhabi-based buyout firm Gulf Capital is looking to invest in 10-12 companies over five years with the launch of its third private equity fund of $750 million, its chief executive said on Sunday. "We are making offers and talking to companies... we can move very quickly a

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