Thursday 10 July 2014
 
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Addax

Addax completes Florida golf course sale

Bahrain-based Addax Bank has completed the sale of Tuscany Reserve (Florence Gardens), an award-winning 452-acre golf course community in Naples, Florida. The move is part of the Bahrain-based bank's policy of concentrating in the GCC

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Sinopec says Addax deal got Iraqi approval

China Sinopec Group's $7.24 billion acquisition of Swiss oil firm Addax Petroleum Corp was approved by the Iraqi government, a local paper quoted a senior Sinopec official as saying on Wednesday. The remark came in response to a Reuter

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IFC to invest in Addax unit

International Finance Corporation (IFC), member of the World Bank Group, will make a $14 million investment in Bahrain-based Addax Bank’s associate company First Education Holding (FEH), the bank announced on Monday. IFC's financing wi

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China's Sinopec to buy Addax for $7.2 billion

China's Sinopec Group agreed to buy Addax Petroleum Corp for about C$8.27 billion ($7.24 billion) in a move to secure the Swiss oil and gas explorer's high potential oil blocks in West Africa and Iraq's Taq Taq field. The offer

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Addax set to start Kurdistan crude exports

Oil and gas company Addax Petroleum expects to start crude oil exports from its facility in Iraq's largely autonomous Kurdistan region on Sunday, a senior company executive said. The firm, listed in Toronto and London, expects to get acces

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Bahrain Air picks Addax to manage cargo unit

Bahrain Air, the first privately owned national carrier, has signed a commercial joint venture agreement appointing Addax of Bahrain to operate its cargo division effective June 1. The agreement was signed at Bahrain Air Headquarters by Ib

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Addax acquires school in UAE

Bahrain-based Addax Bank, a private equity institution, has acquired Al Maaref School in Dubai through its associate company, First Education Holding (FEH). FEH is the bank’s education platform, focused on acquiring and managing schools fr

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Addax launches $35m art fund

Bahrain-based Addax Bank, in partnership with The Fine Art Fund Group, has announced the launch of a $35 million ‘Middle Eastern Fine Art Fund by Addax’. The fund is launched in parallel with the largest fair for modern and contemporary ar

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Addax wins green light for Saudi unit

Bahrain-based Addax Bank was given the go-ahead by Saudi Arabia's Capital Market Authority to set up a subsidiary. As part of its expansion plan, the bank has obtained an investment banking licence from the Saudi regulator for its SR200 mi

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Innovation is essential says banking expert

Innovation in the Gulf financial sector is essential, to see the region capitalise on its booming economy to facilitate long-term growth, according to one of the region’s leading bankers. “With high liquidity in the GCC at present, it wou

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