Saturday 13 February 2016

Egypt's CIB to raise up to $1bn to fund growth

Commercial International Bank (CIB) will raise up to EGP8 billion ($1 billion) to fund expansion after its board backed the plan, Egypt's largest listed company said. The funds will be raised through local or international bonds issued between 2016 and 2018, depending on the


Turkey inflation surging to 10pc

Inflation that is approaching 10 per cent poses a serious threat to the economy because it lowers the growth potential, Turkish Deputy Prime Minister Mehmet Simsek said, citing weakness in the lira and food prices for sparking inflation. In a speech to a Turkish business forum, S


UAE-India ties 'set for major growth'

The UAE and India now have a solid platform from which to elevate their relationship to the next level, Sheikh Abdullah bin Zayed, UAE's Foreign Minister, has said in an article. The comments, in the Hindustan Times, were made on the occasion of the official visit to India by


Misys wins deal to upgrade TBI's digital platform

Misys, a UK-based financial software company, has won a deal with Trade Bank of Iraq (TBI) to assist the bank in upgrading to a next-generation digital platform, according to a report.   As a strategic partner, the firm aims at gaining a competitive edge in Iraq


Sico retains top broker status on Bahrain Bourse

Securities & Investment Company (Sico), licensed by the Central Bank of Bahrain as a conventional wholesale bank, has retained its status as the leading broker on the Bahrain Bourse (BHB) for the 17th consecutive year.   Last year, Sico handled 4,651 transac


Bnl named ‘best performing insurance firm’ in ME

Bahrain National Life Assurance (bnl) has won ‘Best Performing Insurance Company – Middle East Life Insurance Award’ at the 12th Annual Middle East Insurance Forum (MEIF 2016) hosted by Bahrain. Bnl general manager Sahar Al Ajjawi received the award from Central Bank of Bahr


Finance House posts $16.7m net profit

Abu Dhabi-based Finance House, a leader in commercial and retail financing, financial services and investments, has reported a consolidated net profit of Dh61.7 million ($16.7 million) for 2015, slipping from Dh73.3 million ($19.9 million) achieved in 2014. Total Assets as of December


Tenmou event to boost startup ecosystem in Bahrain

Tenmou, Bahrain’s first ‘Business Angels’ organisation, hosted a high-profile social networking event entitled ‘Bahrain Womenpreneur’ at their offices.   Organised in collaboration with the Bahrain Businesswomen’s Society (BBS


International Islamic Trade Finance to open branch in Dubai

UAE Ministry of Finance has signed a deal with International Islamic Trade Finance Corporation, a subsidiary of the Islamic Development Bank Group, to establish a branch and start its operations in Dubai.   The agreement was signed by Obaid Humaid Al Tayer, Mini


Investcorp seeks more deals as H1 profit rises

Bahrain-based Investcorp will seek further opportunities to acquire businesses, its co-chief executive said on Wednesday, after the alternative investment fund posted a 12 per cent rise in first-half net profit. Investcorp bought the Hedge Fund of Funds business unit of US firm S

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