Saturday 25 April 2015

Bahrain Bourse chief takes over as AFE president

Bahrain Bourse (BHB) chief executive Shaikh Khalifa bin Ebrahim Al Khalifa has assumed the rotating presidency of the Arab Federation of Exchanges for the current year. This follows the 40th meeting of the federation held in Bahrain which was attended by representatives from a la


Exchange traded funds to play vital role in Mena

Globalisation for Middle East and North Africa (Mena) securities exchanges is now about putting down roots at home as opposed to global mergers, experts concur. Capital markets experts who have come together at the Arab Federation of Exchanges (AFE) Equities Summit 2015, also agr


Securities trading framework being upgraded in Bahrain

Key upgrades to securities trading frameworks will improve market integrity, fairness, transparency and better safeguard the interests of investors, it has emerged. Central Bank of Bahrain (CBB) Governor Rasheed Al Maraj told the Arab Federation of Exchanges (AFE) Equities Summit


Arab Bank Group posts net profit of $217.2m

Arab Bank Group has reported net profit after tax and provisions of $217.2 million for the first quarter as against $216.3 million in the previous year. Loans and advances increased by three per cent to $23.7 billion, compared with the same period last year, said a report in the


Tamkeen, BDB add $52m to joint finance portfolio

A new agreement between Bahrain’s labour fund Tamkeen and Bahrain Development Bank (BDB) has added BD20 million ($52.7 million) to their joint enterprise finance portfolio, taking the scheme's corpus to BD170 million. Through the partnership, Tamkeen and BDB provide Sha


Egypt receives $6bn from Saudi Arabia, UAE, Kuwait

Saudi Arabia, Kuwait and the United Arab Emirates deposited $6 billion with Egypt's central bank on Wednesday, the bank's governor said, a sign the Gulf powers remain committed to propping up the Egyptian economy. "Today ... $2 billion from each state came into the c


Ahli United to raise $400m via Tier 1 bond

Bahrain's Ahli United Bank has set the final yield for a $400 million Tier 1 bond issue that will enhance its capital reserves and will price later on Wednesday, a document from lead arrangers showed. The lender set a final yield of 6.875 per cent, at the tight end of previou


ME markets edge up as Yemen air strikes end

Most major stock markets in the Middle East rose modestly on Wednesday after Saudi Arabia and its allies in the region decided to end a campaign of air strikes against Yemen's Houthi rebels. Riyadh announced late on Tuesday that it was ending a month-long offensive against th


First Gulf Bank Q1 profit falls short of estimates

First quarter net profit from First Gulf Bank (FGB) failed to match analyst estimates on Wednesday despite rising by 7 per cent thanks to higher fee income. Defying fears that a lower oil price might start to impact the profitability of banks, the earnings of banks from the Unite


ADCB posts $339m net profit for Q1, up 13pc

Abu Dhabi Commercial Bank (ADCB) has posted a net profit of Dh1.24 billion ($339.9 million) for the first quarter of the year, an increase of 13 per cent as compared to the same period last year. The banks operating incomes totalled to Dh2.19 billion, up 15 per cent during the pe

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