Wednesday 25 November 2015

Asian shares hang on to gains, commodities battered

Asian shares were set to hold on to this week's gains, while the dollar took a breather on Friday after stepping back from seven-month highs as investors grappled with the prospects of higher US borrowing costs and slower global economic growth.   Commodity


Apicorp mulls debt issues next year

Saudi Arabia-based Arab Petroleum Investments Corp (Apicorp) hopes to issue one or two debt deals in the coming year, the energy investment company's chairman told Arabiya television. "We hope next year to have one or two offerings around $1 billion and we expect, God pe


Islamic banks to benefit in ‘new normal’ of low oil

A positive outcome for Islamic banks in a ‘new normal’ of low oil prices is that they enter with low rates of non-performing loans, high liquidity, high capital levels and simple balance sheets with mostly Tier 1 capital overall, a report said. Middle East Global Advi


Enoc wins top syndicated loan deal award

Emirates National Oil Company Group (Enoc), a leading integrated global oil and gas player, has won the Syndicated Loan Deal of the Year Award by a Debut Borrower at the recent Bonds, Loans & Sukuk Middle East 2015 Awards. The event brought together over 300 of the industry&r


GCC equity markets ‘increasingly attractive’

GCC equity markets are looking increasingly attractive after the broad based sell off since the summer, Bank of America Merrill Lynch said in a recent research report.  In this context, the GCC markets presently represent a buying opportunity, particularly with appealing sto


SRB to supervise CBI Islamic banking window

Shariyah Review Bureau (SRB), an independent Sharia audit entity, will supervise the board functions and product management of Al Islami, the new Islamic banking window launched by Commercial Bank International (CBI). Ali Amri, head of Wholesale Banking at CBI, said: “Our p


Prince Alwaleed injects $52m into Euro Disney

Kingdom Holding Company (KHC) chaired by Prince Alwaleed Bin Talal, has injected an additional investment of 49.2 million euros ($52.37 million) in to Euro Disney under a recapitalization plan for the theme park. The reconstructing and new action plan, which commenced in April 20


STC offers to take 100pc stake in Kuwait's Viva

Saudi Telecom Company said on Thursday it has submitted an offer to increase its stake in Kuwait's Viva to 100 percent that is pending approval from Kuwait's market regulator. STC's voluntary offer document proposes to purchase all issued shares in the Kuwaiti firm it


Citi Bahrain launches call centre

A Citi Bahrain call centre that employs 87 Bahrainis has been inaugurated by Central Bank of Bahrain (CBB) Governor Rasheed Al Maraj. The inauguration event was hosted by Citi chief executive for Middle East and Africa Atiq Rehman and Citi Bahrain chief executive Usman Ahmed, said a report in


Islamic finance issues to be probed at key Bahrain forum

Bahrain-based Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and the World Bank are gearing up to host their 10th annual conference on Islamic banking and finance next month. During a press conference at the Ritz-Carlton Bahrain, Hotel and Spa yesterday, AAOI

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