Saturday 6 February 2016

Turkey looks to double trade with Iran

Turkey aims to reach $30 billion (in trade) with Iran by 2023, Economy Minister Mustafa Elitas said, adding that Turkey-Iran trade reached $22 billion in 2012 before the slide in oil prices pushed that figure down to $14 billion last year. Elitas saw Turkey benefiting from the em


Bahrain to rethink public debt ceiling

Bahrain is seeking a higher cap on the public debt ceiling so that it can meet its agenda and cover social expenses, which are of direct concern to citizens. A recommendation was sent to His Majesty King Hamad requesting him to issue a Royal Decree referring back the draft law on public debt


Egypt plans to launch agriculture commodities bourse

Egypt plans to launch an agricultural-focused commodities trading exchange, a first-of-its-kind in the Middle East, by the end of 2016, Supplies Minister Khaled Hanafi said on Monday. Speaking at a press conference announcing the completion of a feasibility study on the new bours


Link to enable Egyptian investors to trade on Nasdaq Dubai

Egyptian investors can buy and sell shares on Nasdaq Dubai, a leading financial exchange in the region, through a newly created link with Misr for Central Clearing, Depository and Registry (MCDR).   The new link will be particularly useful for individual investo


Saudi, China financial support to Egypt to ease strains

Saudi Arabia agreed to lend Egypt $20 billion to finance the purchase of oil products over the next five years, according to a report.   This was the latest in a series of financial pledges by Saudi Arabia, China and multilateral development banks (MDBs) since D


GFH distributes semi annual dividends to investors

GFH Capital has distributed semi-annual dividends for a number of its investments and funds in line with its progressive dividend distribution policy.    The dividends were paid to investors of GFH funds with underlying investments in the UAE (Philadelphia


Egypt to launch commodities exchange by year-end

Egypt plans to launch the Middle East's first commodities trading exchange by the end of 2016, Supplies Minister Khaled Hanafi said on Monday. Egypt announced plans to set up a global commodities centre back in 2014 but gave few details at the time. Hanafi told


Investcorp completes sale of law services firm

Bahrain-based Investcorp, a leading provider and manager of alternative investment products, has completed the sale of law services firm Veritext Holdings to private equity firm Pamplona Capital Management. Founded in 1997, Veritext is a leader in deposition and litigation suppor


Citi names new CEO for UAE

Citi, a leading global bank, has appointed Elissar Farah Antonios as chief executive officer of Citi UAE. Antonios comes from Citi Lebanon where she has been the bank’s CEO since 2012.   Antonios is a seasoned banker with extensive experience in wealth ma


Majid Al Futtaim revenues up 8pc to $7.4bn

Majid Al Futtaim, a  leading shopping mall, retail and leisure pioneer across the Middle East and North Africa, today reported a revenue growth of 8 per to Dh27.3 billion ($7.432 billion) in 2015, compared to Dh25 billion in 2014. The preliminary and unaudited operational an

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