Friday 26 December 2014

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


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.  


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


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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