Friday 6 May 2016
 
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EFG-Hermes to double managed green energy assets

Egypt's EFG-Hermes is planning to increase the investments it manages in renewable energy to 1.5-2 billion euros ($1.73 billion-$2.3 billion) in the next two years from 730 million currently, said its managing director. Egypt's EFG-Hermes is planning to increase the inves

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Saudi stock market reforms by mid-2017

Saudi Arabia will implement by the middle of 2017 planned reforms to stimulate the stock market and open it wider to foreign investment, the Capital Market Authority (CMA) said on Thursday. "The amended rules will be published and effective before the end of the first half o

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Khaleeji posts 71pc jump in net profit

Khaleeji Commercial Bank (KHCB), a Bahraini Islamic retail bank, has reported a growth of 70.7 per cent in net profit for the first quarter at BD2.85 million ($7.43 million) when compared with BD1.67 million for the same period last year, reported the Gulf Daily News, our sister public

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Bahrain’s Takaful swings to profit in Q1

Bahrain’s Takaful International has reported a total profit of BD136,000 ($358,000) for the first quarter of the year as against a loss of BD181,000 for the same period last year, reported the Gulf Daily News, our sister publication. To read further, please visit

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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

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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

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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

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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

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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

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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

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