Tuesday 6 October 2015

Islamic finance industry to see moderate growth

Islamic finance will be at a crossroads next year, according to Standard & Poor’s (S&P) Ratings Services. A few major factors are shaping the industry’s growth and trends. Headwinds include the possible negative impact of much lower oil prices and the prevailing low intere


NBK gets approval for capital-boosting bond

National Bank of Kuwait (NBK) has received central bank approval to issue capital-boosting bonds worth up to KD125 million ($413.6 million), the Gulf Arab state's largest commercial lender said in a bourse filing on Sunday. The lender has also received preliminary approval fr


KHCB rolls out new e-banking services

Khaleeji Commercial Bank (KHCB), one of Bahrain’s leading Islamic retail banks, has launched its comprehensive e-banking services. The bank has now added a whole host of elaborate features that include providing customers with the summary of their accounts when required by


Qatar money rates ease over cbank reassurance

Short-term Qatari money rates fell back on Sunday after the central bank governor signalled monetary conditions would not tighten and said Qatar would not follow the United States in hiking interest rates. On Thursday Qatar's three-month interbank offered rate unexpectedly ju


NBO Q3 net profit rises 6.6pc to top $38m

National Bank of Oman (NBO), the sultanate's third-largest lender by assets, posted a 6.6 percent rise in third-quarter net profit on Sunday, according to Reuters calculations. The lender made a net profit of RO14.93 million ($38.7 million) in the three months to Sept. 30, up


Dubai-Switzerland trade tops $4.3bn in H1

The bilateral trade between Dubai, UAE and Switzerland amounted to Dh16 billion ($4.35 billion) during the first half of the year, with imports accounting for Dh 9 billion, exports for Dh 2 billion and re-exports for Dh 5 billion. The measures undertaken by Dubai Customs in Intel


Dubai Investments appoints new COO

Dubai Investments (DI), a leading investment company listed on the Dubai Financial Market (DFM), has appointed Krishnamurthy Sundaresan as its chief operating officer (COO). Sundaresan, a Singaporean national, has over 22 years of experience in international companies across the


Ultra rich in Mideast control $995bn wealth

There are nearly 6,000 ultra high net worth (UHNW) individuals in the Middle East with a combined net worth of $995 billion, according to a Wealth-X study. Saudi Arabia has the largest UHNW population (1,495 ultra wealthy individuals) and UHNW wealth


Qatar banking head cools rate hike talks, won't follow US

Qatar's central bank governor sought to dampen expectations for rising interest rates on Saturday after a jump in local bill yields suggested liquidity in the Qatari banking system was beginning to tighten. On Thursday, the central bank unexpectedly sold just half of the amou


Dubai Holding unit profit surges 24pc to $708m

Dubai Holding, a major investment conglomerate with operations in 24 countries, said its commercial operations group has registered a net profit of Dh2.6 billion ($708 million) in the first half, up 24 per cent over Dh2.1 billion last year.   The Dubai Holding Commercial Oper

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