Wednesday 16 April 2014
 
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Qatar stocks hits six-year high

Qatar's bourse led gains in the Gulf on Wednesday, followed by markets in the UAE, although trading in Dubai was thin. Weak earnings from petrochemicals weighed on Saudi Arabia. The main Qatar index rose 1.1 percent to 12,454 points, its highest close since June 2008, althoug

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Bahrain's Ahli United eyes sale or merger: sources

Ahli United Bank (AUB) , Bahrain's largest lender, is evaluating a sale or a merger with a strategic peer in a possible $5 billion deal, several bankers familiar with the situation said. After previous sale attempts to a bank based in the Gulf Cooperation Council (GCC) area i

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HSBC Oman to sell Indian business to Doha Bank

HSBC Bank Oman said it had agreed on the sale of its Indian business to Qatar's Doha Bank, in a statement to the Muscat Securities Market on Wednesday. No value for the transaction was given in the statement, but the Omani lender said the unit had two branches and gross asset

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Mubasher appoints new UAE group director

Mubasher Financial Services, a leading financial institution in the Middle East, has appointed Hanan Koubeissy as the group director of its UAE branches.   In his new position, Koubeissy will play a key role in growing Mubasher’s market presence locally as

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Bank Muscat Q1 net profit jumps 59pc

Bank Muscat, Oman's largest lender, missed analysts' expectations despite posting on Wednesday a 59.1 percent jump in its first-quarter net profit, as it didn't repeat a one-off fraud provision that it was forced to make last year. The bank reported a quarterly profit

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Dubai inflation up 3pc, highest since 2009

Dubai's consumer inflation rose 3.0 per cent in March compared to the same month last year, registering the highest increase since August 2009. The increase from February was 0.4 per cent, according to the Dubai Statistics Center. Housing and utility costs, whi

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HSBC-Gulf Air launch service promotion

HSBC Bahrain and Gulf Air, the national airline of the kingdom, have renewed their agreement to provide customers with an enhanced, value-added travel experience through a joint promotion. Valid until December 31 this year, the joint promotion entitles all HSBC credit cardholders

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Bahrain in move to boost S Korea trade ties

Bahrain’s Economic Development Board (EDB) is hosting a delegation of South Korean journalists from various high profile publications including financial ones to promote investment opportunities with Seoul. It includes publications, such as JoongAng Ilbo, Maeil Business New

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NBB profit surges 12pc to $44.2m in Q1

The National Bank of Bahrain (NBB) posted a 12.1 per cent increase in net profit at BD16.62 million ($44.20 million) for the first quarter of the year, compared with BD14.83 million for the corresponding period of the previous year. The financial results were approved at the boar

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Al khaliji launches ‘Premium Banking’ in UAE

Al Khaliji France, a wholly-owned subsidiary of Qatar-based Al Khalij Commercial Bank, has launched its ‘Premium Banking’ service to premium customers in the UAE.   Al khaliji France’s Premium Banking is a service-led proposition which delivers

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