Saturday 10 October 2015

Ahli United group chief wins major Arab award

London-based Arab Bankers Association has announced the 2015 Award for Distinguished Services to Arab Banking will be presented to Ahli United Bank Group chief executive and managing director Adel El Labban. He will receive the award at the Arab Bankers Association’s annual gala to be h


New legislation in Bahrain set to boost SMEs

Bahrain is set to implement a set of legislations that will encourage more businesses to be set up with emphasis on small and medium scale enterprises (SMEs). Industry, Commerce and Tourism Minister Zayed Al Zayani revealed this during his speech in the Bahrain British Business Networking Lun


Big US firms hold $2.1trn overseas to avoid taxes

The 500 largest American companies hold more than $2.1 trillion in accumulated profits offshore to avoid US taxes and would collectively owe an estimated $620 billion in US taxes if they repatriated the funds, according to a study released on Tuesday. The study, by two left-leani


New rules to promote investment in Bahrain

Private investors in Bahrain will now be required to pay for infrastructure services to support new projects. It is among measures approved by the Cabinet yesterday to enhance competitiveness and facilitate the investment process, said a report in the Gulf Daily News (GDN), our siste


ADIB says no plans to raise further capital

Abu Dhabi Islamic Bank has no current plans to raise more capital after a rights issue last month, its chief executive said on Monday, adding that the lender would eschew expansion to focus on existing markets. The largest Islamic lender in the emirate raised Dh504 million ($137


At $397bn, GCC pension funds meagre says report

Across the GCC, public pension funds amount to $397 billion, representing nearly a quarter of the gross domestic product (GDP) and $15,000 per national, accoridng to a recent report.   EY’s GCC Wealth and Asset Management 2015 report 'Fast growth, dive


DGCX trading volumes up 36pc in Q3

Dubai Gold and Commodities Exchange (DGCX), a leading derivatives bourse, said its trading volumes in the third quarter of the year grew 36 per cent from the last quarter, with more than 4.1 million contracts.   The exchange also saw a year-on-year increase of 2


Saudi foreign assets fall $6.6bn on move to cover deficit

Net foreign assets at Saudi Arabia's central bank fell by $6.6 billion in August as the kingdom liquidated assets to cover a budget gap caused by cheap oil, official data showed on Monday. The central bank, which serves as the sovereign wealth fund of the world's top oil


Al Masah Capital rebrands ‘Healthcare Mena Limited’

‘Al Masah Capital Limited’, a leading alternative investment and asset management firms, has rebranded its healthcare private equity initiative, ‘Healthcare Mena Limited’ (HML), to ‘Avivo Group.’   During a press conference he


GCC banks may issue $43bn of Basel III debt by 2019

Arqaam Capital, the specialist emerging and frontier markets investment bank, expects GCC banks to issue $43 billion of Basel III compliant debt by 2019 in order to improve the quantity and quality of their capital base. Jaap Meijer, managing director- Research at Arqaam Capital

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