Monday 20 February 2017
 
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Warba seals $163m Kuwait financing portfolios deal

Kuwait-based Warba Bank said it has entered into a renewable agreement with Al-Mulla International Financing Company by which the bank will increase the allocated amount of the acquisition of financing portfolios from Al Mulla International Financing to reach the amount of KD50 million ($163 mi

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Saudi bourse appoints first female chair

Sarah Al Suhaimi, the chief executive of NCB Capital, the investment banking unit of National Commercial Bank, has become the first woman to chair The Saudi Stock Exchange, the largest bourse in the region.   Al Suhaimi was appointed chairwoman of the Tadawul, r

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Mubadala Investment organised into four platforms

Mubadala Investment Company, the newly-formed strategic investment company wholly owned by the government of Abu Dhabi, will organise its approximately Dh460 billion ($125 billion) portfolio into four investment platforms of significant scale. The sectors include: Petroleum &

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Burgan Bank 2016 income up 12pc to $222m

Kuwait-based Burgan Bank Group has reported net income of KD 68 million ($222 million) for 2016, up 12 per cent from KD61 million reported in the previous year. Earnings per share stood at 28 fils, up by 15 per cent from 25 fils in 2015 (excluding the discontinued operations resu

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UAE, Burundi ink deal to avoid double taxation

UAE’s Ministry of Finance (MoF) has signed two final agreements on the avoidance of double taxation and the protection and promotion of investment with Burundi.  The agreements came as part of the Ministry’s strategy to expand its international relations and to p

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UAE tops economic freedom index in Mideast

The United Arab Emirates (UAE) took the top spot in the Middle East in the 2017 Index of Economic Freedom, released by the US-based Heritage Foundation. It was ranked 8th globally on the list. Hong Kong topped the list, while Singapore and New Zealand are in the second and third

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NEC Payments to unveil new cashless solutions

Bahrain-based NEC Payments, a payments technology and services provider, is working towards its first product launches which will happen within the first quarter, reported the Gulf Daily News, our sister publication. To read further, please visit

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ADGM bolsters cross-border ties with Malta, Australia

Abu Dhabi Global Market (ADGM), the international financial centre in Abu Dhabi, has signed agreements to strengthen cross-border co-operation with the Malta Financial Services Authority (MFSA) and Australian Prudential Regulation Authority (APRA). The MoUs aim to further collabo

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Nasdaq Dubai welcomes $1bn DIB sukuk listing

Nasdaq Dubai today welcomed the listing of a $1 billion sukuk by Dubai Islamic Bank (DIB), the UAE’s largest Islamic bank, on the region’s international exchange. It brings the total value of DIB’s sukuk current listings on Nasdaq Dubai to $4.25 billion, more th

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Emirates Investment Bank profits up

Emirates Investment Bank (EIBank), an independent private bank based in the UAE, today announced a net profit of Dh33.89 million ($9.23 million) for 2016, up 20.5 per cent from Dh28.13 million ($7.66 million) in 2015. Operating income was Dh142.98 million, a 28.4 per cent increase on F

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