Thursday 5 March 2015

KFH-Bahrain launches new wealth management service

Kuwait Finance House - Bahrain (KFH-Bahrain) has launched its wealth management department offering new premium investment and asset management services which will focus on a unique class of clientele. “As part of our efforts to provide reasonable returns to our clientele,


Mumtalakat 'has no plans to sell assets'

Mumtalakat does not plan to sell off any assets this year and would pursue business projects as usual, its top official has said. The sovereign wealth fund's chief executive Mahmood Al Kooheji said this during a keynote interview on the fund's priorities for the year ahea


NBAD ‘not interested in Citi's Egypt assets’

National Bank of Abu Dhabi (NBAD) is not interested in buying the Egypt retail business of Citigroup, and is instead targeting organic growth in the country and globally, the bank's chief executive told Reuters on Sunday. The plan to grow organically by the United Arab Emirat


Oman to issue first sovereign sukuk by mid-2015

Oman plans to make its first sovereign issue of Islamic bonds, a 200 million rial ($520 million) issue, by mid-2015 to help finance a budget deficit caused by the plunge of oil prices, the head of its central bank said on Sunday. "The issue will be through the central bank f


Business France opens Kuwait office

Business France, the national agency supporting the international development of the French economy, recently opened its first representative office in Kuwait. This office works to enhance the French presence in the Kuwaiti market, reinforce relations with French companies and st


MNCs ‘likely to invest in Oman despite cheap oil’

Regional bosses of multinational companies (MNCs) expect to invest in Oman in the coming three years despite lower oil prices, according to the latest briefing from Emerging Markets Intelligence & Research (EMIR). EMIR is a support service for leading executives of some of th


Bloominvest Saudi profit surges 16pc to $9.5m

Bloominvest Saudi Arabia, a leading investment company, has recorded a SR36 million ($9.59 million) net profit in fiscal year that ending 2014, marking an increase of 16% compared to the same period in 2013. Abdullah Al Rashoud, CEO of Bloominvest Saudi Arabia, said: "These


Gulf Capital sees 4-6 acquisitions this year

Abu Dhabi-based private equity firm Gulf Capital may complete between four and six acquisitions this year, chief executive Karim El Solh told reporters on Sunday. Speaking on the sidelines of a business conference in Abu Dhabi, Solh also said his company had no current plans to c


Indian budget opens new avenues for NRIs: BR Shetty

The focus on 'Make in India' in the Indian budget unveiled yesterday (Feb 28) will open up more avenues for non-resident Indians (NRIs) to contribute to the nation's development, said Dr B R Shetty, managing director and CEO of UAE Exchange. He said the budget  sets In


Qatar’s Mannai working on two foreign acquisitions

Qatari investment firm Mannai Corporation is working on two acquisitions as part of a drive to expand the proportion of its revenue from international sources to 80 per cent, its chief executive said. Foreign investment from the Gulf state is normally associated with multi-billio

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