Tuesday 3 May 2016

NBAD Q1 net profit falls 10.7pc

National Bank of Abu Dhabi , the emirate's largest lender by assets, on Wednesday posted a 10.7 per cent fall in first-quarter net profit as revenues dropped and impairment charges for bad loans rose. NBAD, almost 70 per cent owned by an Abu Dhabi state investment fund, made


Rasmala 2015 profit drops 58pc

Rasmala, an independent investment management group, has posted a profit of £0.25 million ($363,500) for 2015 as compared to £0.6 million during the previous year, marking a fall of 58.3 per cent. Operating income before tax stood at £0.5 million as against &pou


Bahrain, Egypt in talks to boost bilateral ties

Bahrain’s His Majesty King Hamad and Egyptian President Abdul Fattah Al Sisi yesterday held key talks and vowed to boost co-operation in political, economic, military, defence, education and tourism fields, reported the Gulf Daily News, our sister publication. To r


Bahrain will overcome challenges asserts PM

Challenges, no matter how severe they may be, will not dissuade Bahrain from continuing on the path of comprehensive development to achieve a better future for the nation and the people, His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa has asserted. The real


Online service launched for Bahrain-Saudi travel

A new electronic service has been launched through which people in Bahrain can buy insurance policies before travelling to Saudi Arabia via the King Fahad Causeway, reported the Gulf Daily News, our sister publication. To read further, please visit


Bahrain-Russia trade reaches $1m in January

Bilateral trade between Bahrain and Russia reached $1 million in January alone, reported the Gulf Daily News, our sister publication. To read further, please visit GDNonline.  


New India Assurance opens new Bahrain branch

The fourth Bahrain branch office of New India Assurance Company was opened yesterday in Busaiteen by Central Bank of Bahrain (CBB) executive director for financial institutions supervision Abdul Rahman Al Baker in the presence of Indian Ambassador Alok Kumar Sinha, reported the Gulf Daily N


Saudi Arabia to overhaul financial district, economic cities

Saudi Arabia is revising plans for a glitzy financial district in Riyadh and the creation of six industrial cities, after the projects were plagued by delays and a lack of enthusiasm among potential tenants and investors. The government's frank, public assessments of the proj


IMF welcomes Bahrain reforms; seeks more

International Monetary Fund (IMF) has welcomed the substantial fiscal measures Bahrain has implemented, including on energy price reform, to safeguard macroeconomic stability. Nonetheless, additional efforts are needed to further reduce the fiscal deficit, while continued reforms


Falcon Group in strategic deal with Aptec

Falcon Group has partnered with Aptec, an Ingram Micro company, to offer extended payment terms to its resellers, above and beyond its current payment period, creating differential advantage in the GCC region. Addressing the demands across the marketplace, this unique arrangement

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