Saturday 12 July 2014
 
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BBK closes ING Mena fund

Bahrain-based BBK has announced the successful liquidation of its open-ended equity fund which was set up in partnership with Dutch financial group ING. The liquidation of 'BBK-ING Mena Fund' follows an earlier decision by

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Mashreq sues ING over 'roach motel' debt losses

  Mashreq, Dubai's second largest bank, has filed a US lawsuit blaming Netherlands-based ING Groep for it losing 40 percent of a $108 million investment by improperly putting the money in risky debt.  

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Investors to leave Dubai for Abu Dhabi, Egypt

Fund managers will rotate dedicated money out of Dubai and into Abu Dhabi, Qatar and Egypt in search of a safe investment haven, as the Gulf emirate delayed billions of dollars of debt obligations this week. International fund managers say

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Bahrain warns banks

Bahrain accused foreign banks of unethically piling pressure on Gulf currency pegs and warned it would 'take action' against anyone targeting its dollar-pegged dinar, a magazine reported, citing the central bank governor. Bahrain cut inter

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