Wednesday 4 March 2015

SABB named ‘Best Trade Finance Bank’ in Saudi

The Saudi British Bank (SABB) has been named as the ‘Best Trade Finance Bank’ in Saudi Arabia for this year by the Global Finance magazine. The recognition from the magazine comes after an assessment of transaction volumes, scope of global coverage, customer service,


Sudan bank to open first Gulf branch in Bahrain

Bank of Khartoum, an Islamic institution which is Sudan's biggest privately owned bank, plans to open a wholesale banking branch in Bahrain, its first branch in the Gulf, its chief executive told Reuters. "It comes logically because the bank's vision and ambition is


Ras Al Khaimah eyes sovereign sukuk issue

The emirate of Ras Al-Khaimah is eyeing a return to the debt capital markets this year after inviting bankers to pitch for arranger roles on a potential US dollar-denominated benchmark sukuk issue, sources said on Wednesday. A deal from the emirate, one of seven which make up the


Alkhabeer to expand capital markets business

Alkhabeer Capital, a Saudi Arabia-based Islamic investment and advisory firm, plans to expand its discretionary management business and apply for a listing on the Saudi stock exchange later this year, its chief executive told Reuters. The company was founded in 2004 as an advisor


Oil price slump ‘unlikely to spur sovereign sukuk’

Although lower oil prices may lead to fiscal deficits in some GCC countries, most governments' net asset positions will likely remain strong enough to enable their financing, limiting the upside for sukuk issuance in 2015, a report said. “Where this isn't the case,


Qatar GDP on robust track over heavy diversification

Qatar’s real GDP growth will accelerate to 7 per cent in 2015, 7.5 per cent in 2016 and 7.9 per cent in 2017 as the government continues investing heavily in the non-hydrocarbon sector despite lower oil prices, a report said. The Barzan project is expected to drive growth i


AIM to host ministerial forum on FDI

The upcoming Annual Investment Meeting (AIM) 2015 in Dubai, UAE will include a Ministerial Roundtable for ministers of several countries to discuss ways to develop flow of foreign direct investment (FDI). AIM 2015 will be held from March 30 to April 1 at the Dubai International C


Citi Bahrain launches travel campaign for clients

Citibank Bahrain has launched Citi’s exclusive Travel Series “Discover”, a campaign through which Citi clients can win airline tickets and explore exciting cities around the world. To be eligible to win, Citi clients should use their Citi credit cards from March


Munich Re, MedNet win top insurance honours

Munich Re and its third party administrator (TPA) MedNet have each won an award at Mena Insurance Awards 2015. Munich Re got the ‘Most Innovative Reinsurer’ and MedNet got the ‘TPA of the year’ award, said a report in the Gulf Daily News (GDN), our sister


Bahrain ranks high on investment benchmark

Bahrain was ranked 18th in the 2015 Islamic Growth Markets Investment Index which ranks countries' investment potential relatively within the Organisation of Islamic Co-operation (OIC) member states. Thomson Reuters in partnership with DinarStandard, an Islamic markets resear

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