Saturday 30 May 2015

Gulf Capital, Carbon sign $25m debt financing deal

Gulf Capital, a leading alternative investment firms in the Middle East, and Carbon Holdings, Egypt’s largest petrochemicals holding company, have signed a debt financing agreement to support three of the latter’s mega-industrial projects in Ain Al Sokhna on the Suez Canal in Egypt.


Adib eyes UAE expats as industry growth slows

Abu Dhabi Islamic Bank (Adib) will focus on winning more business in the United Arab Emirates' expatriate community this year as growth in the national banking sector slows, the bank’s chief executive said. Total UAE banking sector revenues rose an estimated 14 per cent


Adib offers investors access to German exporters

Abu Dhabi Islamic Bank (Adib), a top tier Islamic financial institution, is offering a new 100 per cent capital-protected note that gives investors exposure to blue chip German companies that are experiencing potential export growth. The two-year sharia-compliant note is specific


Trust Re Q1 net profit up 10pc to hit $8.7m

Trust Re, a reinsurance company based in Bahrain, reported profits of $ 8.7 million during the first quarter (Q1) of the year, up 10.1 per cent year-on-year from $ 7.9 million achieved in Q1 2014. Gross Written Premium reached $204.5 million, representing a rise of 4.9 per cent c


Saudi retailers post increase in Q1 net profits

The retailers listed in the Saudi stock exchange have reported a net profit of SR789.43 million ($210.41 million) for the first quarter of this year, an increase by SR45 million ($11.99 million) compared to the same period last year. The retail sector sales rose to SR8.4 billio


Khaleeji Commercial in drive to improve communication

Khaleeji Commercial Bank (KHCB) has launched a new internal initiative to improve communication between staff members and top level management. It involves a random selection of employees being invited to have lunch with chief executive Khalil Al Meer on a monthly basis as part o


Bahrain, China to sign major trade agreements

Two major agreements aimed at promoting trade are expected to be signed by Bahrain and China, with more than 100 business leaders currently visiting Bahrain. More than a 100 business leaders from the Chinese region of Ningxia, led by its vice governor and the China Chamber of Int


Growth push by Bahrain's private sector showcased

The role of private sector in supporting sustainable development in Bahrain was showcased at a high-profile event in Kazakhstan. The Astana Economic Forum 2015 was held under the patronage Kazakhstan President Nursultan Nazarbayev, said a report in the Gulf Daily News (GDN),


Income disclosure law challenged in Bahrain

A law that obliges senior government officials and public representatives in Bahrain to declare their finances, as well as those of their spouses and children, is being contested by the Shura Council. Members voted unanimously yesterday to challenge the Financial Integrity Law in


Gulf markets dip, tracking oil; Egypt extends gains

Most Gulf stock markets slipped on Sunday after oil prices fell, while Egyptian equities extended gains following the delay of an unpopular capital gains tax. Brent oil fell $1.17, or 1.8 per cent, to $65.37 a barrel on Friday, declining 2.1 per cent on the week as a rallying dol

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