Thursday 23 March 2017

Kuwait’s Warba Bank lists sukuk on Nasdaq Dubai

Shaheen Al-Ghanem, chief executive of Warba Bank, one of Kuwait’s leading banks, today rang the market-opening bell to celebrate the listing on Nasdaq Dubai of a $250 million Perpetual Tier 1 Basel III compliant capital sukuk. The sukuk instrument will further strengthen Wa


Asar helps Kuwait set up debut $8bn issue

Al Ruwayeh & Partners (Asar), a leading corporate law firm said it had acted as law counsel to Kuwait, acting through the Ministry of Finance and represented by the Kuwait Investment Authority, for the establishment of its Global Medium Term Note (GMTN) Programme and Kuwait's inaugural


Instability, oil price main concern for HNWIs

Political instability, conflict and threat of terrorism, along with a possible oil price decline are the primary concerns of high net-worth individuals (HNWIs) in the GCC region, according to a new study. For both the global and regional economies, most HNWIs feel the investors a


PwC welcomes Jackson as region’s deals leader

PwC Middle East has announced the appointment of Pam Jackson as the regional deals leader, based in Dubai. An M&A specialist, Jackson has actively been engaged advising international clients on complex cross border M&A, tax, deals, IPOs and reorganisations in the Middle E


Insurance premiums set to grow in GCC: report

Gross premiums in the four largest GCC insurance markets will continue to increase in 2017 despite the the current economic slowdown in the region, which is the result of relatively low oil and gas prices, a report said. Credit conditions for rated insurers in the four largest Gu


Shaikh Ahmed named new GFH chairman

Bahrain-based GFH Financial Group (GFH), a prominent financial group in the GCC region, has appointed Shaikh Ahmed Bin Khalifa Al Khalifa as the new chairman of the company's board for the next two years, while Dr Ahmed Al Mutawa has been named the vice chairman. The announce


Qinvest, ex-Barclays CEO to buy oldest UK stock broker

Qinvest, the leading investment group from Qatar, has joined hands with Atlas Merchant Capital, a private equity firm co-founded by former Barclays chief executive Bob Diamond to buy Panmure Gordon, one of Britain’s oldest stockbrokers, said a report.   Qi


Dubai Chamber to open India office in Mumbai

The Dubai Chamber of Commerce and Industry plans to open its first Indian office in Mumbai later this year, a statement said. Senior officials from Dubai Chamber led by Chairman Majid Saif Al Ghurair and UAE Ambassador Dr Ahmed Al Banna met Chief Minister of Maharashtra state Devendra


Dubai non-oil foreign trade hits $347bn in 2016

Dubai's non-oil foreign trade in 2016 reached Dh1.276 trillion ($347 billion), rising 70 per cent from Dh754 billion in 2009, said Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. “We have achieved this growth despite the world credit crunch in 20


Emirates NBD unit launches India equity fund

Emirates NBD Asset Management has announced the launch of its Emirates Islamic India Equity Fund in partnership with UTI International, one of India’s largest money managers, following approval from the UAE Securities & Commodities Authority (SCA). The Fund aims to achi

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