Tuesday 2 September 2014

Jordan insurance market stays profitable despite hurdles

Jordan’s insurance market continues to grow amid challenges from unprofitable mandatory motor business, declining capital adequacy and regulatory uncertainty, along with regional unrest on its borders, according to a new Best’s Special Report. A.M Best is a US-based rating


Business opportunity in Mideast to be probed

Business opportunity and political risk in the Gulf and Middle East will come up for discussion at a key event in Bahrain next week. Organised by the Bahrain-based Middle East office of the International Institute for Strategic Studies (IISS), the conference at the Sofitel Bahrai


Al Baraka appoints VP, commercial banking head

Al Baraka Banking Group (ABG), a Bahrain-based Islamic banking group, has appointed Mohammed Abdullah El Qaq as senior vice-president and head of commercial banking. El Qaq has more than 22 years of experience in commercial banking in GCC and Middle East markets, said a report in


Bahrain-Germany trade push explored

A delegation from the Saarland state in Germany met a number of business leaders in Bahrain to discuss key economic developments in the kingdom, and to prepare for an official visit to Bahrain soon. Saarland is considered a hub for innovation, scientific research and cutting-edge


EDB in deal to boost Japanese trade ties

The Economic Development Board of Bahrain (EDB) has signed a memorandum of co-operation with Japan Information Technology Services Industry Association (JISA) at the EDB headquarters in Seef. The signing was part of activities of a visiting Japanese business delegation in the kin


Lebanon sees 1.5-2pc GDP growth despite Syria crisis

Lebanon's economy is expected to grow 1.5 to 2 per cent and inflation is not expected to exceed 4 per cent in the year 2014, despite the fall-out from the war in neighbouring Syria, the central bank governor said on Monday. Lebanon's economy has been hard hit by the war i


Saudi cbank may cap consumer lending

Saudi Arabia's central bank has published new consumer lending regulations which give it the power to cap retail lending at individual banks and limit the fees that banks can charge. The rules could dent profit growth at banks, especially those that rely heavily on retail act


ENBD eyes capital-boosting bond sale

Emirates NBD (ENBD), Dubai's largest lender, plans to sell a benchmark-sized capital-boosting bond, a document from lead managers said on Monday, looking to take advantage of favourable markets to strengthen its reserves. ENBD has chosen Citigroup, Commerzbank, Deutsche Bank,


ADIB completes Barclays unit purchase

Abu Dhabi Islamic Bank (ADIB) said it has formally completed the purchase of Barclays’ UAE retail banking business from the British lender. As per the new deal, ADIB and Barclays will now work closely to ensure the seamless transition of over 110,000 customers onto the Abu


AlKhair Capital launches Sharia-compliant fund

AlKhair Capital, a leading Saudi-based investments institution, has launched the ‘AlKhair Capital Plus Sukuk Fund’ - its open-ended, Sharia-compliant investment fund for investment in fixed income markets. The fund is aimed at generating regular income as well as achieving

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