Friday 4 September 2015

HSBC appoints M&A head for Mena

HSBC Holdings has appointed Efe Kapanci as the bank's head of mergers and acquisitions in the Middle East and North Africa, according to a company memo seen by Reuters. Kapanci has been with the bank since 2002 and was previously based in New York, the memo said, adding he wo


Saudi, Egypt rise alongside global markets

Stock markets in Saudi Arabia and Egypt rose in early trade on Thursday, tracking global bourses as oil prices, which had moved Middle Eastern equities earlier in the week, were relatively stable. The main Saudi equity index gained 0.7 per cent with most stocks positive. The bank


Saudi Arabian Industrial Investments names CEO

The recently formed Saudi Arabian Industrial Investments Company (SAIIC) has appointed Rasheed M Al-Shubaili as its chief executive officer (CEO) with effect from September 1. Abdullatif Al-Othman, SAICC chairman, said: “I am happy to welcome Rasheed Al-Shubaili as SAIIC&rs


Islamic social finance to bridge funding gap

The possibility of using Islamic social finance - zakah and awqaf - to bridge the funding gap for humanitarian activities around the world were the focus of a roundtable held at the UN headquarters recently.   At the roundtable organised by the UN World Humanita


Ibdaa Lebanon, Silatech launch two new loan products

Leading Lebanese microfinance institution, Ibdaa Lebanon, and Silatech, a regional social initiative, have launched two new loan products specially developed to help young entrepreneurs start and expand businesses in Lebanon. Expected to create over 2,000 additional employment op


Bahrain banks ‘ready to face global headwinds’

Bahrain’s banks have strong liquidity and capital buffers that would enable them to tide over global headwinds due to continuing low oil price and low growth expectations, experts from ratings agency Moody’s Investors Service said yesterday (September 2). The panel of experts that


Bahrain leads MEA region in FDI strategy

Bahrain has ranked first for its foreign direct investment (FDI) strategy in the Middle East and Africa region, according to a recent report.   The fDi’s Middle East and African Countries of the Future 2015/16 pointed out that since its conception in 2001,


Mideast markets under pressure after oil plunge

Middle East stock markets fell on Wednesday after oil prices plunged again, although steadier global equities and some positive corporate news softened the blow.      Oil futures, which have been the main influence on equities in the oil-exporting Gulf durin


International Investment Bank appoints new chief

Bahrain-based International Investment Bank (IIB) has appointed Subhi F Benkhadra as its new chief executive officer.   Benkhadra, previously the chief executive officer of Abu Dhabi based Baniyas Investment and Development Company, replaces Fareed Bader, the ac


Oil price slump to start affecting Saudi banks

The impact of lower oil prices will soon start to weigh on Saudi Arabia's banks, which are likely to see bad loans edge higher by the end of the year, according to Standard & Poor's. Lenders in the kingdom have so far managed to defy many analysts' expectations by

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