Thursday 21 August 2014

Global Finance names ‘World's Best Global Banks’

The annual listing of the ‘World’s Best Banks” has been released by the Global Finance magazine. The report will be featured in the Global Finance’s October issue, and will include the best bank worldwide for corporate, consumer and private banking, emerging mar


NBAD subsidiary in America re-named

The National Bank of Abu Dhabi (NBAD) has renamed its wholly-owned subsidiary in America to NBAD Americas N.V. NBAD established the subsidiary in Curacao in 1979 as Abu Dhabi International Bank N.V., and launched a federal branch in the US capital, Washington, D.C. in 1981. Th


Saudi likely to impose 20pc foreign ownership limit

Overseas investors in the Saudi Arabian stock market will face restrictions including a 20 per cent ceiling on combined foreign ownership of any listed stock, a major Saudi newspaper reported on Tuesday. The Capital Market Authority announced in late July that the market, the Ara


Gulf Capital SME Awards reveals finalists

Gulf Capital SME Awards, which recognises the UAE’s SMEs for innovation and growth, has revealed finalists of its 2014 edition, with businesses in the service and technology sectors emerging as the strongest contenders for the awards in various categories. Other business se


Basel III revision 'to boost Islamic finance industry'

The Islamic Financial Services Board’s (IFSB) revised capital requirements for Bassel III could help strengthen the Islamic finance industry, according to a recent Standard & Poor's Ratings Services report. The report titled ‘Basel III Offers An Opportunity Fo


SNIC premiums register 23pc growth

Bahrain-based Saudi National Insurance Company (SNIC) has reported a growth of 23 per cent in gross written premium at BD11.2 million ($29.70 million) for the first six months of the year when compared with BD9.1 million ($24.1 million) for the same period last year. The net prem


IILM to issue $790m in sukuk next week

Malaysia-based International Islamic Liquidity Management Corp (IILM) will raise $790 million through its Islamic bond programme next week, according to a filing with the central bank. The IILM, a consortium of central banks from Asia, the Middle East and Africa, will auction a t


Sedco Capital outsources external audit to SRB

Sedco Capital, a leading provider of shari’a  compliant investment solutions, has assigned the external shari’a audit of its $160 million real estate funds to the Shariyah Review Bureau (SRB). The two funds, which SRT will be periodically auditing the implementat


MubasherTrade lists its top Saudi stocks

MubasherTrade Research, a unit of leading financial institution Mubasher Financial Services, has launched a list which highlights its top investment ideas across the Saudi market.  The KSA Favourite List comprises 16 equally-weighted stocks, offering exposure to five sectors


DFM sees 100pc compliance in Q2 disclosures

Dubai Financial Market (DFM) has announced that its listed local public joint stock companies have recorded a 100 per cent compliance regarding the disclosure of results for the second quarter of 2014. The disclosure of results was achieved within the deadline of 45 days from the

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