Saturday 10 October 2015

BlackRock gets Saudi nod to trade local stocks

BlackRock, the world's largest asset manager, has been granted regulatory approval by Saudi Arabia to trade local stocks, the company said in a statement on Tuesday. BlackRock "received a qualified foreign investor licence which was obtained in order to launch the iShare


Abu Dhabi to host World Strategy Summit

Abu Dhabi is set to host the inaugural World Strategy Summit, which will feature an line-up of prominent, contemporary thought leaders and expert strategists, drawn from academic, corporate and government entities.   The summit will run from November 16 to 19 at


Abraaj raises $191m in funds through Mexican CKD

The Abraaj Group, a leading investor operating in global growth markets, has raised 3.2 billion Mexican peso ($191 million) through Mexican publicly traded certificates, known as Certificados de Capital de Desarrollo or Certificates of Development Capital (CKD).   


Usman Ahmed named CEO of Citi Bahrain

Citi today appointed Usman Ahmed as the chief executive officer for Citi Bahrain as well as chief executive for Citi Islamic Investment Bank. In this role, Ahmed will oversee Citi's operations in Bahrain as well as lead Citi's effort to provide value added Islamic banking


1,000 leaders for Dubai’s global trade event

About 1,000 trade leaders from over 100 countries will take part in the upcoming Global Trade Development Week (GTDW), the world’s largest trade facilitation event, being held in Dubai, UAE later this month. Supported by Dubai Economic Council (DEC), the event will run from


Dream big, top businessman tells entrepreneurs

Leading UAE-based businessman Thumbay Moideen has urged entrepreneurs to "dream big to be big". Modieen, the foudner president of Thumbay Group, was addressing a massive gathering of 6,000 people at the “Vibrant Business Summit” held at Gandhinagar in Gujara


Mideast urged to crackdown on unregulated schemes

About 87 per cent of financial advisers who were surveyed though regulators should be doing more monitoring and close down unregulated schemes and products, according to a report.   The sixth annual Middle Eastern Investment Panorama (MEIP), issued by market int


Societe Generale appoints chief for Saudi

Societe Generale, a global financial services company, has announced the appointment of Antoine Toussaint as chief country officer and CEO of Societe Generale SAR, its CMA licensed subsidiary in Saudi Arabia. Based in Riyadh, Toussaint reports to Richad Soundardjee, Societe Gener


Fajr Capital CEO honoured by Sh Mohammed

Iqbal Khan, the CEO of private equity investment firm Fajr Capital, has been presented with a Lifetime Achievement Award by Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the UAE and Ruler of Dubai, at the 2015 Global Islamic Economy Summit. Khan was selected by a panel


GFH repays $37m to debt syndicates

GFH Financial Group (GFH), a Bahrain-based financial group, has repaid $37.5 million to its debt syndicates.    These repayments are in addition to $33 million paid by GFH to its debt holders last year, and represents more than 30 per cent of the group&rsqu

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