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GCC GDP grows 28pc to hit $1.4trn in 2011GCC's GDP grew 28 per cent to $1.4 trillion in 2011, said a senior Bahrain government official, adding that the GCC trade exchange with other countries reached $1.2 trillion in the same year. Industry and Commerce Minister Dr Hassan Fakhro was speaking at the 28th joint meeti More… |
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BIBF names new deputy directorBahrain Institute of Banking and Finance (BIBF) has announced the appointment of Dr Ahmed Al Shaikh as its deputy director. Dr Al Shaikh brings a wealth of experience that will reinforce BIBF's strategy of being the region's foremost business, finance education and traini More… |
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Saudi pushes banks to allot more jobs for localsSaudi Arabia's central bank has asked commercial banks to increase localisation of some functions as Riyadh pushes to move more of its citizens into jobs now done by expatriates, a banker in the kingdom said. The Saudi Arabian Monetary Agency (Sama) sent the banks a circular More… |
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Shuaa Capital Q1 net loss narrowsShuaa Capital, the Dubai-based investment bank, said on Tuesday that its first-quarter net loss narrowed as it reduced operating costs by a third amid shrinking revenues. Shuaa, which has laid off a third o More… |
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Bahraini banks ‘unaffected by cyber attacks’No Bahraini bank has been affected by cyber attacks, the Central Bank of Bahrain (CBB) said yesterday, referring to $45 million stolen recently from two banks in the Middle East. CBB was highlighting the fraud at the UAE-based National Bank of Ras Al Khaimah and the Oman-based Ba More… |
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Qatar index rises to 27-month highQatar's bourse rose to a 27-month high on Monday as regional investors bought a market considered a bargain because it has lagged others in the Gulf this year. Most Gulf markets climbed, although Saudi More… |
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ATM heist: Indian firm admits system breachedAn Indian payment card processing company acknowledged on Monday that hackers breached its security to increase the limits on some pre-paid card accounts in a global ATM heist in December. ElectraCard Servi More… |
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Saudi stock regulator plans to tighten rulesThe Saudi Capital Market Authority has begun consultations that could change how closing share prices are calculated and how long listed firms can trade with large accumulated losses, part of a drive to tighten standards in the market. More… |
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Adib, US expert discuss global economySenior officials of Abu Dhabi Islamic Bank (Adib) met recently with renowned US economist Larry Summers to discuss developments in the regional and global economy during a visit to the UAE capital. Summers served as the Secretary of Treasury under US President Clinton and was app More… |
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Omani lender Nizwa starts roadshowOman’s first full-fledged Islamic lender Bank Nizwa has kicked off its first road show in the Sultanate aimed at creating awareness on its Islamic fnance products and service. Nizwa Souq, a highly interactive and informative roadshow, is currently touring the Sultanate, emp More… |
