Oman International Development and Investment Company (Ominvest) and Oman National Investment Corporation Holding on Monday said their respective shareholders had approved the proposed merger of the two companies.
Under the plan,
A planned floatation of Doha Global Investment Co, a $12 billion Qatari investment firm backed by assets from the Gulf state's sovereign wealth fund, has been postponed pending necessary approvals, a senior bourse official said on Sunday.
A Kuwaiti investment firm is alleging that private equity giant Carlyle Group sold it a fixed income fund in 2006 without necessary licence, and is seeking approval for its lawsuit against the US firm to be heard in Kuwait rather than
Abu Dhabi-based investment firm, The National Investor (TNI), has shed more than half of its workforce and is planning more job cuts in a bid to reduce costs in response to tough financial markets, said sources.
Like a number of rival Midd
Al Baraka Banking Group (ABG) has launched a financial services firm in Saudi Arabia through its fully-owned subsidiary Al Baraka Islamic Bank - Bahrain, which owns majority shares in the company.
Itqan Capital, the new firm, was formerly
Kuwait Finance House, the country's biggest Islamic lender, said on Sunday it has signed a deal with Gulf Investment House to restructure the KD49.5 million ($180 million) it owes in debts.
The agreement 'includes converting the cu
Abu Dhabi-based investment firm Waha Capital inked a deal for a $505 million credit facility and is "actively looking" to deploy the capital, it said on Monday.
The three-year term and revolving facility was signed with eleven local and in
Kuwaiti investment firms will need separate licences to operate their lending and investment businesses as the central bank eliminates regulatory overlap with the newly formed Capital Markets Authority.
The decision was in a central bank c
Kuwait's central bank has cut Gulfinvest International from the list of investment firms operating in the state, the firm reported on Monday, in what an analyst said was a step towards liquidation.
'Clients' portfolios will not
Saudi Arabia is exploring opportunities for investments in Europe, Asia and the United States in sectors including technology and auto parts for its new $5.3 billion investment company, its finance minister said.
The company, Sanabil al-Sa