Tuesday 29 July 2014
 
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Arabtec ex-CEO trims stake in firm

Dubai construction company Arabtec's former boss has sold about $4 million worth of shares in the group this week, cutting his stake slightly, stock exchange data showed. Arabtec's shares have swung around wildly this year on apparent tensions between chief executive Hasa

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Barwa Bank H1 profits up 35pc

Barwa Bank Group, Qatar's fastest growing shari'ah compliant banking service provider, said its net profit rose 35 per cent to QR411 million during the first half of this year, compared with QR303 million during the same period in 2013. The balance sheet recorded signific

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ABC Islamic profit up 25pc

Islamic Bank has reported a net profit of $7.5 million for the first half of 2014, 25 per cent higher than the profit of $6 million reported in the first half of 2013. Total operating income rose to $10.7 million, compared to $8.3 million for the first half of last year. Operatin

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Jordan introduces sukuk rules

Regulators in Jordan have introduced a set of long-awaited rules for the issuance of sukuk, or Islamic bonds, paving the way for both the public and private sectors to tap into growing demand for Sharia-compliant investments. Jordan is one of several countries keen to develop the

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BFC opens 38th outlet in Dar Kulaib

Bahrain Financing Company (BFC) has opened a branch in Dar Kulaib, which is the company's 38th branch in the kingdom.   The Dar Kulaib branch will be open from 8.30am to 8.30pm, seven days a week and will offer worldwide

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Emirates NBD trims loan growth forecast

Emirates NBD trimmed its 2014 loan growth forecast but raised its expectations for how much lending would earn it this year after reporting an estimate-beating 34.8 percent jump in second-quarter net profit. Dubai's largest lender expects to see its lending grow by 4 to 5 per

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Gold falls below $1,300 as equities gain

Gold broke below the key psychological level of $1,300 an ounce on Thursday as safe-haven demand for the metal eased due to rising Asian equities and strong Chinese manufacturing data. Physical demand in the region, however, increased slightly on the lower prices, with premiums i

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Sama issues new currency worth $266m

The Saudi Arabian Monetary Agency (Sama) has issued new Saudi riyal currencies worth SR1 billion ($266.6 million) to meet growing demand during Eid Al-Fitr, said a report.   The newly issued currencies are availbale at Sama&

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Finance House profit increases 8pc in H1

Finance House (FH) has registered a net profit of Dh61.2 million for the six months ended June 30, an increase of 8.3 per cent compared to Dh56.5 Million in the corresponding period last year.   The net fee and commission in

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RakBank in talks to acquire Rak National Insurance

UAE-based National Bank of Ras Al Khaimah said on Thursday it was looking to acquire a majority stake in a listed insurance company in the emirate, a rare example of a takeover attempt involving two public UAE firms.   RakBa

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