Friday 31 October 2014

Bahrain’s EDB signs key deals to boost China ties

Three memoranda of understanding (MoU) were signed yesterday (October 29) in Shenzhen, China as the Bahrain business delegation continues its tour of China's principal commercial centres. The 10-day visit by the Economic Development Board (EDB) began on October 23 in Beijing,


Key international ratings boost for Al Baraka

Dagong Global Credit Rating Company and Islamic International Rating Agency (IIRA) have jointly assessed the international scale credit rating of Al Baraka Banking Group (ABG) at 'BBB+/A3' (Triple B Plus / A Three). In addition, IIRA has assessed ABG's national scale


Bahrain Bourse awarded full WFE membership

The general assembly and annual meeting of the World Federation of Exchanges (WFE) has approved to provide Bahrain Bourse (BHB) with a full membership status of the organisation during its 54th meeting at Seoul, South Korea. The WFE has voted for BHB to become its full member aft


Visa sees mobile payment as big growth driver

Visa Inc reported a better-than-expected adjusted quarterly profit and said the mobile payment industry would be "a great driver" for business, sending its shares up nearly 4 per cent in extended trading. The world's largest credit and debit card company and its com


Bahrain boost as trade set to be streamlined

Bahrain is ready to enter into a new era of streamlined trade. The kingdom, following the signing of the World Trade Organisation (WTO) Agreement on Trade Facilitation in December 2013 in Bali, is preparing to enter into a new trade bracket, said a report in the Gulf Daily Ne


Abu Dhabi financial zone hires regulatory chief

Abu Dhabi's new financial free zone said it had hired a veteran executive from Singapore to head its regulatory body, its second senior appointment this year and a step towards opening the zone for business as soon as next year. Richard Teng, most recently chief regulatory of


Christy Walton richest woman in the world

Christy Walton, who inherited a portion of the Walmart fortune after her husband’s death in 2005, is the richest woman in North America, and the world, with an estimated net worth of $37.9 billion, according to a Wealth-X list of the wealthiest women in each region. Taking second


ABC posts $197m net profit, up 11pc

Arab Banking Corporation (ABC) has posted a net profit of $197 million for the first nine months of the year, up 11 per cent over $178 million for the same period last year. The net profit for the third quarter was $60 million, nine per cent lower than that reported for the same


Bank Muscat unit plans maiden sukuk in Q1 2015

The Islamic unit of Bank Muscat , Oman's largest lender, plans to tap the Islamic bond market in the first quarter of next year, in what would be the first sukuk sale by a bank in the country, a bank official said on Wednesday. The lender has received regulatory approval for


Qatar SE chief named board member of WFE

Rashid bin Ali Al-Mansoori, CEO of Qatar Stock Exchange, has been elected as a board member of the World Federation of Exchanges (WFE) during the 2014 annual meetings held in Seoul. The meetings also resulted in the election of a new board chairman, vice chairman, chairman of the

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