Tuesday 4 August 2015
 
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Kuwait increases new refinery cost sharply

Kuwait’s Supreme Petroleum Council has endorsed a request to sharply increase the budget for a new refinery after most of the bids exceeded initial estimates, the oil minister said yesterday. Ali Al Omair said the figure for

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$48m loan to redevelop homes in Bahrain approved

A $48-million loan for Bahrain from the Islamic Development Bank was approved by the Shura Council yesterday (July 5), despite members expressing concern that the total cost of repaying it could reach $70 million. The money will b

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$48m loan to redevelop homes in Bahrain approved

A $48-million loan for Bahrain from the Islamic Development Bank was approved by the Shura Council yesterday (July 5), despite members expressing concern that the total cost of repaying it could reach $70 million. The money will b

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Bahrain’s new-look budget clears final hurdle

Bahrain’s new-look national budget for 2015 and 2016 cleared its final hurdle yesterday (July 5) when it was unanimously approved by the Shura Council. Thirty-eight members voted yes to the new national budget, which will no

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Bahrain parliament approves new-look budget

Bahrain's budget for 2015 and 2016 was narrowly approved by the parliament yesterday (July 2). Twenty-two MPs voted in favour of the new-look budget, which scraped through by just two votes, after a delay of more than six mont

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Barwa gets approval for $2bn sukuk programme

Shareholders of Qatar's Barwa Bank approved plans for a $2 billion senior unsecured sukuk programme that could be issued in various currencies, the lender said in a statement on Tuesday. The Islamic bank did not specify a time

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Agility gets shareholder nod to issue long term bonds

Kuwait-listed logistics company Agility has said shareholders approved all items on its agenda at its annual general meeting, including plans for issuing long term bonds. Under the agenda, shareholders were asked to approve issuin

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World's first malaria vaccine moves closer to use in Africa

The world's first malaria vaccine, made by GlaxoSmithKline, could be approved by international regulators for use in Africa from October after final trial data showed it offered partial protection for up to four years. The sho

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IFSB admits 6 organisations into its membership

The Council of the Islamic Financial Services Board (IFSB) has approved the admission of six organisations into the its membership. It includes one supervisory authority as a full member, another supervisory authority as an associ

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Ahli United plans to raise $4bn in financial instruments

Bahrain-based Ahli United Bank (AUB) Group may raise $4 billion in bonds, loans or any other similar subordinated financial instruments, following shareholder approval for the proposal, it has emerged. The election of Hamad Al Hum

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