Wednesday 23 April 2014
 
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First Energy Bank

First Energy inks $34m facility with Dutch firm

First Energy Bank (FEB), a Bahrain-based Islamic investment bank, has signed a 25-million-euro ($34 million) Murabaha facility with the Netherlands-based Kore Coal Finance, a subsidiary of Sapinda Holding. The financing will assis

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Borealis-First Energy JV buys key stake in Bulgarian firm

Bahrain-based First Energy Bank and Borealis, the second largest producer of polyethylene and polypropylene in Europe have jointly bought 20.3 per cent stake in Neochim AD, Bulgaria's leading producer and distributor of fertilisers.

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MENAdrill signs $130 million finance deal

MENAdrill Investment Company (MIC), incorporated in Cayman Islands and principally promoted by First Energy Bank (FEB), has signed a three-year $130 million limited recourse Islamic financing with Gulf International Bank (GIB). The facilit

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First Energy appoints new chairman

Bahrain-based First Energy Bank (FEB), a major Islamic investment bank, has appointed Khadem Abdulla Al Qubaisi as the bank’s new chairman, following the recent departure of the bank’s former chairman, Esam Janahi. Al Qubaisi has served as

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First Energy Bank posts $4m net profit

First Energy Bank (FEB), a leading Bahrain-headquartered Islamic bank, said it has registered a net income of $4 million for the third quarter, a significant improvement over last year's $0.9 million. Announcing the third quarter resul

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First Energy Bank posts $3.9m Q1 profit

First Energy Bank (FEB), a leading Islamic investment bank headquartered in Bahrain, has registered a net profit of $3.96 million for the first quarter thus giving a solid and positive start to the year. Announcing the results on Sunday, F

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First Energy posts $14m profit

Bahrain-based First Energy Bank (FEB), a leading Islamic investment bank, posted profits of $14.2 million for 2009 at its third annual general meeting held today (March 30). The bank’s total revenues increased to $47.41 million, and total

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MENAdrill jack up rigs on track

MENAdrill Investment Company, the inaugural venture of Bahrain-based First Energy Bank (FEB), said its jack up rigs - MENAdrill Hercules I & II - are currently under construction and will be ready for operations this year. A Cayman Isl

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First Energy Bank posts $14.2m profit

First Energy Bank (FEB), an Islamic investment bank based in Bahrain, has announced a net profit of $14.2 million in 2009, its first full year of operations, when compared to $42,000 in 2008. The FEB also reported a gross income of $4

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First Energy, PMD to set up polysilicon venture

A world class $1 billion polysilicon production facility, the first of its kind and scale in the region, will be established in Saudi Arabia’s Al Jubail Industrial City 2. The project is spearheaded by its strategic partner, the Bahrain-ba

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