Thursday 5 May 2016

KPMG hosts seminar for entrepreneurs in Bahrain

KPMG Fakhro hosted a seminar in Bahrain for entrepreneurs to discuss key challenges that businesses will face in the upcoming years including the changing regulatory and tax environment in the region. A member firm of KPMG international, it provides audit, tax and advisory servic


Ahli United Q1 net profit rises 5pc

Ahli United Bank (AUB), Bahrain's largest lender, posted a 5 per cent increase in first-quarter net attributable profit on Wednesday. The bank's net attributable profit for the three months to March 31 was $154.6 million. This compares with $147.2 million in the correspon


28 countries take part in Cibafi forum in Bahrain

Delegates from more than 28 countries attended the global forum “Rethinking Values for Sustainable Growth” organised by the General Council of Islamic Banks and Financial Institutions (Cibafi) in Bahrain yesterday (May 3). The two-day forum at the Four Seasons Hotel i


1st independent Chinese refiner trades on DME Oman

Shandong Chambroad Petrochemicals has become the first independent Chinese refiner to trade Oman crude oil futures on the DME, a leading energy exchange. The Chinese government allowed independent refiners to import crude oil for the first time earlier this year.  So far 10


Trriple, Ericsson to offer mobile wallet solutions in UAE

UAE-based Trriple, a provider of digital platform for the mobile financial services sector, and Ericsson have partnered to provide managed mobile wallet solutions for banking and smart city sectors. The multi-year collaboration supports the country’s Smart Government initia


Abraaj exits Tunisia's Unimed via IPO

The Abraaj Group, a leading investor operating in global growth markets, has exited its investment in leading Tunisian pharmaceutical company Unité de fabrication de médicaments (Unimed) through an initial public offering (IPO) on the Tunis Stock Exchange. The Abraa


S&P Global forum to discuss Saudi markets

S&P Global (formerly McGraw Hill Financial) will host its sixth annual Financial Leaders’ Forum in Riyadh, Saudi Arabia, next week. The gathering, being held in Saudi Arabia for the first time, will explore the critical factors affecting business currently in Saudi Arab


Citigate launches Sierra Leone diamond project

Citigate Commodities Trading Limited, a Dubai-based company, has announced the acquisition and launch of a 79.9-sq-km diamond mine in Sierra Leone. The announcement was made at a gala event, at the Ritz Carlton DIFC, and was hosted by Citigate International CEO Tohib Iyiola. The


Kuwait releases $250m aid to Morocco

Kuwait has released $250 million in financial aid to Morocco, the remaining sum of assistance to the North African country, a report said. The $250 million released by Kuwait for the kingdom is one-fifth of the MD 1.5 billion promised to Morocco and Jordan by the GCC, according t


BBK’s capital securities list on Bahrain Bourse

Bahrain Bourse (BHB) yesterday (May 3) signed two agreements with BBK, the first is to list the bank’s perpetual tier 1 convertible capital securities (bonds) and the second to assign BHB as a registrar for the bondholders of the securities, reported the Gulf Daily News, our sist

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