Friday 12 February 2016

Gold surges to one-year high

Gold surged nearly 4 per cent on Thursday to its highest in a year as fears about financial instability, a lower dollar and US Treasury yields persuaded investors to seek refuge in the precious metal. Traders said financial instability fears were fuelled by European bank shares s


Middle East Healthcare share sale in March

Saudi Arabia's Middle East Healthcare Company, which postponed its public share sale last month, has rescheduled its offering to run from March 3-9, the market regulator said. The Capital Market Authority on January 18 said the company requested postponing its initial public


Cathay offers special fares to Emirates NBD cardholders

Cathay Pacific Airways, the flag carrier of Hong Kong, is offering Emirates NBD cardholders a discount on Business, Premium Economy and Economy Class tickets to selected destinations.  Emirates NBD cardholders can get a discount of 10 per cent Business and Economy Class tickets wh


Taqeem backs religious endowments forum

The Saudi Authority for Accredited Valuers (Taqeem) will participate in the upcoming third forum of organizing the religious endowments (Awqaf) in Riyadh, Saudi Arabia. Organized by the Endowments Committee in Chamber of Commerce and Industry in Riyadh, the event will take place


Egypt's CIB to raise up to $1bn to fund growth

Commercial International Bank (CIB) will raise up to EGP8 billion ($1 billion) to fund expansion after its board backed the plan, Egypt's largest listed company said. The funds will be raised through local or international bonds issued between 2016 and 2018, depending on the


Turkey inflation surging to 10pc

Inflation that is approaching 10 per cent poses a serious threat to the economy because it lowers the growth potential, Turkish Deputy Prime Minister Mehmet Simsek said, citing weakness in the lira and food prices for sparking inflation. In a speech to a Turkish business forum, S


UAE-India ties 'set for major growth'

The UAE and India now have a solid platform from which to elevate their relationship to the next level, Sheikh Abdullah bin Zayed, UAE's Foreign Minister, has said in an article. The comments, in the Hindustan Times, were made on the occasion of the official visit to India by


Misys wins deal to upgrade TBI's digital platform

Misys, a UK-based financial software company, has won a deal with Trade Bank of Iraq (TBI) to assist the bank in upgrading to a next-generation digital platform, according to a report.   As a strategic partner, the firm aims at gaining a competitive edge in Iraq


Sico retains top broker status on Bahrain Bourse

Securities & Investment Company (Sico), licensed by the Central Bank of Bahrain as a conventional wholesale bank, has retained its status as the leading broker on the Bahrain Bourse (BHB) for the 17th consecutive year.   Last year, Sico handled 4,651 transac


Bnl named ‘best performing insurance firm’ in ME

Bahrain National Life Assurance (bnl) has won ‘Best Performing Insurance Company – Middle East Life Insurance Award’ at the 12th Annual Middle East Insurance Forum (MEIF 2016) hosted by Bahrain. Bnl general manager Sahar Al Ajjawi received the award from Central Bank of Bahr

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