Tuesday 28 June 2016

Aligning board talent with strategy ‘key challenge’

Three-quarters of directors say the alignment of board talent with the company’s long-term strategy is a critical challenge for their board, according to a new report released by professional services group KPMG. Three in five cite a need for greater diversity of background


Investcorp acquires cyber security firm

Bahrain-based Investcorp, an alternative investment manager, yesterday announced it is acquiring Coresec Systems AB, one of the largest managed cyber security ‎service providers in Scandinavia, reported the Gulf Daily News,our sister publication. To read further, ple


Afkar’s new fund to invest in UAE large caps

Afkar Capital, an Abu Dhabi-based asset management firm said it was launching a physical, in-kind exchange-traded fund (ETF), which would invest in the largest UAE stocks by capitalisation. Afkar Capital, which was founded at the end of last year, is launching the UAE dirham-deno


Cima appoints new president

The Chartered Institute of Management Accountants (Cima) recently appointed Andrew Miskin as its new president at the organisation’s annual general meeting (AGM). Miskin, who has 25 years’ experience as a management consultant, will be responsible for chairing the institute


Egypt begins talks with the IMF over $5bn loan

Egypt's central bank has started negotiations with the International Monetary Fund over a $5 billion loan, a Minister from Egypt's economic group of ministers told Reuters on Monday. The negotiations, which started last week, are headed by the central bank, the minister s


DP World lists $1.2bn sukuk on Nasdaq Dubai

DP World, a global marine operator, has listed a $1.2 billion sukuk on Nasdaq Dubai, marking Dubai’s status as the global leader for Islamic bond listings, with a total nominal value of $44.56 billion. Sultan Ahmed Bin Sulayem, Group Chairman and CEO of global trade enabler


Islamic finance market seen at $3trn by 2018

The size of Islamic finance market is estimated up to $2 trillion and projected to grow to $3 trillion by 2018, said an industry expert. The Islamic finance assets represent 1 per cent of the global financial market, while the sukuk issuance is accelerating the Islamic capital ma


UAE partners with WEF to host global meet

The UAE government has signed an agreement with the World Economic Forum (WEF) to host the next four editions of the annual meeting for Shaping the Future. The first of these meetings will be hosted in Dubai, UAE on November 13 and 14, featuring 50 specialized councils and more t


Goldman sees post-Brexit UK recession

Britain is likely to enter a recession within the year as a result of last week's vote to leave the European Union, a decision that will stunt global economic growth as well, Goldman Sachs' top economists said on Sunday. "We now expect the (British) economy to enter


Gulf sinks on Brexit but comes off lows, Egypt hit badly

Middle East stocks fell sharply on Sunday because of Britain's vote to leave the European Union but Gulf bourses came well off their lows. Egypt was hardest hit because of concern that fund inflows into the country could shrink further. Most of the Gulf does not depend heavil

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