Sunday 4 October 2015

Glencore, VW hits to push Qatar fund to diversify more

Qatar Investment Authority's hit from the slide in Volkswagen and Glencore shares can only underline the sovereign wealth fund's need to continue to diversify its asset base, industry sources said. The German carmaker has been pummelled over an emission testing scandal wh


Investcorp sells key stake to Gulf institution for $138m

Bahrain-based Investcorp has sold a 9.9 per cent stake in itself to a new Gulf-based institutional shareholder for $137.8 million, the investment firm said in a statement on Wednesday. It did not disclose the name of the new shareholder in the bourse filing.-Reuters


Taiwanese brands showcases latest innovations in Dubai

The Taiwan External Trade Development Council (Taitra) recently concluded a campaign where a collection of leading Taiwanese brands showcased their latest innovations to consumers at the Dubai Mall.   The Taiwan Excellence Days campaign included brands such as A


Riyad Bank launches contactless card with Gemalto

Riyad Bank, one of Saudi Arabia’s top financial institutions, is migrating its entire portfolio to the Clarista Contactless EMV card offered by Gemalto, a world leader in digital security. Powered with the industry-standard MULTOS operating system, this is the kingdom&rsquo


ME funds bullish on UAE equities despite low oil

Middle East fund managers favour United Arab Emirates stock markets over other bourses by a large margin as the region struggles with low oil prices and an unstable global environment, a monthly Reuters survey shows. Gulf stock markets are in a difficult period as cheap oil slash


VCBank wins ‘Best Islamic Investment Bank’ award

Venture Capital Bank (VCBank) has won the ‘Best Islamic Investment Bank’ award at the recently concluded Global Islamic Finance Awards (GIFA) in Bahrain.   Abdullatif Mohamed Janahi, board member and chief executive officer, said: "It is an hono


Bank ABC closes $125m term loan facility

Bahrain-based Bank ABC has announced it successfully closed a $125 million syndicated term loan facility on behalf of UAE-based United Arab Bank. Bank ABC was acting as the initial mandated lead arranger and bookrunner and the facility agent, said a report in the Gulf Daily News (GDN),


Nigeria’s ‘Emir of Kano’ wins Islamic finance award

Muhammadu Sanusi II, Emir of Kano, Nigeria has won the Global Islamic Finance Leadership Award at the Bahrain-hosted fifth Global Islamic Finance Awards (GIFA), it was announced. During a ceremony at the Gulf Hotel, the Emir of Kano, who was the guest of honour, received the award for his adv


Weak oil, global equities hit Gulf stocks

Weak oil prices and global equity prices hit Gulf stock markets on Tuesday, with Saudi Arabia and Qatar dropping the most as they reopened after a long Eid Al-Adha break. The Saudi stock index closed 1.4 per cent lower. Brent crude had dropped about three per cent to below $48 a


Takaud holds financial seminar for sports partner

Bahrain-based Takaud, a specialist provider of savings and pensions for the Mena region, hosted a wealth management and financial planning seminar for the board members and key associates of its sports partner Manama Club. Hosted at the Capital Club in Manama, Bahrain, the semina

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