Saturday 30 May 2015
 
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Al Baraka Tunisia Q1 income doubles

Al Baraka Bank Tunisia, a subsidiary banking unit of Al Baraka Banking Group, announced that first quarter net income jumped by 100 per cent to reach four million Tunisian dinars ($2.1 million) compared to the same period in 2014. Total assets also increased by 14 per cent, finan

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Saudi IFC to fund Mena tech companies

Saudi-based IFC, a member of the World Bank Group, is investing $10 million in a venture capital fund that supports promising technology companies, part of an effort to drive job creation across the Middle East and North Africa (Mena). The investment will help Wamda Capital advis

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GCC lenders join hands for Pacific Controls deal

Qatar-based Al Khalij Commercial Bank (al khaliji) said it has joined hands with National Bank of Fujairah (NBF) for a landmark structured finance deal for Pacific Controls, a pioneer of  IoT (Internet of Things) and a global player in the international ICT (Information and Communication T

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Iran may abolish fuel subsidies in bid to cut spending

Iran is likely to abolish subsidised fuel allowances for motorists, an Oil Ministry adviser said on Saturday, in a move that will cut state spending but could also drive inflation and cause protests. The government is trying to curb subsidies that have led to profligate energy co

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Citigroup to sell online FX trading platform

Citigroup said it is selling its margin foreign exchange business, including the CitiFX Pro and TradeStream platforms to US-based FXCM and Danish investment bank Saxo Bank. "We believe this transaction is in the best interest of Citi's Margin FX clients, who will experie

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Dutch set to start sale of ABN Amro

The Dutch government decided yesterday to start selling state-owned bank ABN Amro seven years after it was nationalised during the financial crisis. 'A first part will be sold from the fourth quarter,' Finance Minister Jeroen Dijsselbloem said after the cabinet meeting.

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