Friday 27 May 2016

Symantec says Swift heist linked to Philippines attack, Sony hack

Hackers who stole $81 million from Bangladesh's central bank have been linked to an attack on a bank in the Philippines, in addition to the 2014 hack on Sony Pictures, cybersecurity company Symantec Corp said in a blog post on Thursday. Symantec did not name the Philippines b


Bahrain to focus on five core sectors for growth

Bahrain's Economic Development Board (EDB) has identified five core sectors where it expects both growth and investments, EDB chief executive Khalid Al Rumaihi has said. The sectors include financial services, manufacturing, logistics, tourism and leisure, and information, co


IDB fund invests in Avivo healthcare group

Avivo Group, one of the largest healthcare networks in the GCC with 32 healthcare facilities, has announced a partnership with IDB Infrastructure Fund II, sponsored by the Islamic Development Bank and other institutional investors. The fund has completed a significant investment


GFH plans to list Khaleeji Commercial in Dubai

GFH Financial Group (GFH) has announced plans to list its Khaleeji Commercial Bank (KHCB) at the Dubai Financial Market (DFM) to unlock its market potential. The listing is subject to obtaining regulatory approvals in Bahrain, said GFH Group CEO Hisham Alrayes said during a prese


Ecuador cyber thieves 'moved cash to HK, Dubai firms'

Cyber thieves who stole $12 million from an Ecuadorian bank in 2015 routed the funds through 23 companies registered in Hong Kong, some of them with no clear business activity, according to previously unreported court filings and judicial rulings. The remaining $3 million was routed to


UAE e-Dirham revenue tops Dh2bn in Q1

The UAE's Ministry of Finance (MoF) has announced that the federal government revenue collected through e-Dirham reached more than Dh2 billion in Q1 2016, up 4.2 per cent from Dh1.92 billion in Q1 2015. The number of service transactions done through e-Dirham during the first


US new homes sales hit 8-year high

New US single-family home sales recorded their biggest gain in 24 years in April, touching a more than eight-year high as purchases increased broadly, a sign of growing confidence in the economy's prospects. Tuesday's report from the Commerce Department, which also showed


DP World launches $1.2bn sukuk issue to cover tender

Dubai-based ports operator DP World launched a seven-year $1.2 billion sukuk issue on Tuesday, a document from lead managers showed. The issue, structured to be compliant with rules allowing investors in the US to participate, will price at 237.5 basis points over midswaps, accor


NBK - Egypt reports $20.96m Q1 profit

National Bank of Kuwait-Egypt (NBK-E) reported net profits of EGP186.6 million ($20.96 million) for the first quarter of 2016 compared with EGP126.3 million for the same period in 2015, growing at 47.7 per cent year-on-year. Total assets as of end-March 2016 grew 24.7 per cent ye


DP World may increase 2017 sukuk buy-back

DP World expects to expand its sukuk buy-back after receiving offers well above the original target from investors, the Dubai-based ports operator said on Tuesday. The firm, one of the world's largest ports companies, conducted a tender to buy back sukuk maturing in 2017. It

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