Saturday 17 November 2018

Emirates NBD real estate trust wins $75m funding

Emirates NBD Asset Management said its shari’a-compliant real estate investment trust has secured a $75 million Murabaha finance facility from Standard Chartered Bank for a term of three years with an accordion option to upsize the facility to $100 million. ENBD REIT said t


GIB closes $500m financing facility

Gulf International Bank (GIB) announced that it has successfully closed a $500 million three-year financing facility with a group of lenders.   The lenders comprise First Abu Dhabi Bank, HSBC Bank Middle East Limited Natixis DIFC Branch, Riyad Bank, Mizuho Bank


Save for 7 years, become a millionaire

The average expat will spend just seven years in the Gulf. While this might not seem very long, with financial discipline, committed saving plans and smart investment products it is enough time to realise their dreams of becoming a millionaire, says a financial expert.  


Credit conditions mixed for Mideast: Moody’s

Credit conditions for emerging markets in 2019 will be more challenging as global growth slows, said says Moody's Investors Service in a new report, giving a negative outlook for Turkey and parts of Africa and mixed for the Middle East. "Commodity price trends, tightenin


Deloitte launches paper on common practices for Sukuk

Deloitte, in collaboration with the International Shariah Research Academy (ISRA), has just launched a new whitepaper inviting experts to share their perspectives on processes for global common practice of the Sukuk markets. Deloitte’s Islamic Finance Knowledge Center in th


Gulf Capital sells 74pc stake in PET subsidiary

Gulf Capital, a top alternative asset manager in the Middle East, said that its portfolio company Middle East Glass (MEG) sold a 74 per cent stake in its PET subsidiary, Medco Plast for Packing and Wrapping Systems. The sale was made to Indorama Ventures Public Company Limited (&


Saudi deficit declines in first nine months

An impressive reduction in Saudi Arabia’s budget deficit occurred during the first 9 months of 2018, which happened despite a 25 per cent increase in government spending, said an industry expert. This is linked on one side to the rise of the oil price as the WTI price has a


GFH 9-month profits jump 18.6pc to $102.4m

GFH Financial Group (GFH) has announced a net profit attributable to shareholders of $103.44 million for the first nine months of the year ended September 30, 2018, an 18.6% increase from $87.23 million in the first nine months of 2017.    The increase refl


Japanese investments in Abu Dhabi hit $1.6bn in 2017

The size of Japanese investments in Abu Dhabi reached approximately Dh6.1 billion ($1.66 billion) by end of 2017, while the number of trade licenses issued to Japanese investors in Abu Dhabi reached 32, a media report said. Similarly, the value of non-oil trade between Japan and


Tawuniya insures Saudia Airlines fleet

The Company for Cooperative Insurance (Tawuniya) has entered into a contract with Saudia Airlines to provide insurance coverage for its aircraft fleet and its affiliated airlines.  According to the contract, Tawuniya will provide insurance coverage for the Saudia Airlines ai

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