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NBK group CEO to step downNational Bank of kuwait, the country's leading lender, said on Wednesday that its group chief executive officer Ibrahim Dabdoub will step down from his role following the next General Assembly Meeting. Dabdoub will however, continue to serve the bank as an advisor to the boar More… |
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SABB gets Fitch ratings boostFitch Ratings, a leading rating agency, has affirmed the Saudi British Bank’s (SABB) long term credit rating at “A” with a stable outlook. The ratings affirmation and outlook revision reflects SABB’s financial strength, consistent strong profitability and More… |
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Saudi SABB prices $400m sukuk issueSaudi British Bank (SABB), an affiliate of HSBC Holdings, has completed a SR1.5 billion ($400 million) capital-boosting sukuk issue, it said on Wednesday. The Islamic bond has a lifespan of seven years, with a clause allowing the bank to redeem the paper after five years, and was More… |
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Shuaa Capital gets Moody's ratings upgradeShuaa Capital, a leading financial services company in Dubai, said Moody's Investors Service has upgraded its long-term foreign and domestic currency issuer ratings to 'B1' and changed its outlook to stable from negative. The ratings agency also affirmed Shuaa's n More… |
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QInvest ‘advised on $3.5bn sukuk in 2013’QInvest, a leading investment bank in Qatar, on Sukuk transactions in 2013 totalling $3.5 billion, and expects another busy year in 2014, said a top official. “2013 was a very exciting year for QInvest, which saw us involved, in close co-operation with Qatar Islamic Bank, i More… |
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Al Hilal Bank wins top Islamic finance awardAl Hilal Bank, fully owned by the Abu Dhabi Investment Council, the investment arm of the Government of Abu Dhabi, has been named ‘Best Islamic Financial Pioneer’ at the recent Tatweej Academy for Excellence Awards in Dubai. The bank was honoured for its valuable cont More… |
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Barwa Bank wins top Islamic banking awardsQatar-based Barwa Bank Group has been named “Best Bank” and “Best Premium Bank” globally, as well as “Best Domestic Commercial Bank” in Qatar at the Islamic Business & Finance Awards 2013. These awards were established by CPI Financial in 2 More… |
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‘BPO offers big benefits for Saudi economy’The Saudi economy has the potential to accelerate in growth by utilizing the services of business process outsourcing (BPO) providers, said an industry expert. “There is ample business literature to confirm that companies who have a strong focus on their core competency ten More… |
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Emaar approves bonds-to-shares conversionHolders of Dubai-based developer Emaar Properties' convertible bonds will receive 18.7 million new shares in the company after its board approved conversion of the instruments, the company said on Wednesday. Emaar issued $500 million of five-year convertible bonds in 2010. We More… |
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Higher oil production to boost Mena growthThe global economy will see a modest uptick in growth next year, with the US GDP growth accelerating to 2.6 per cent as businesses increase investments, according to global asset manager PineBridge Investments. The asset management firm, whose regional headquarters is in Bahrain, More… |
