Friday 1 July 2016

DP World lists $1.2bn sukuk on Nasdaq Dubai

DP World, a global marine operator, has listed a $1.2 billion sukuk on Nasdaq Dubai, marking Dubai’s status as the global leader for Islamic bond listings, with a total nominal value of $44.56 billion. Sultan Ahmed Bin Sulayem, Group Chairman and CEO of global trade enabler


Islamic finance market seen at $3trn by 2018

The size of Islamic finance market is estimated up to $2 trillion and projected to grow to $3 trillion by 2018, said an industry expert. The Islamic finance assets represent 1 per cent of the global financial market, while the sukuk issuance is accelerating the Islamic capital ma


UAE partners with WEF to host global meet

The UAE government has signed an agreement with the World Economic Forum (WEF) to host the next four editions of the annual meeting for Shaping the Future. The first of these meetings will be hosted in Dubai, UAE on November 13 and 14, featuring 50 specialized councils and more t


Goldman sees post-Brexit UK recession

Britain is likely to enter a recession within the year as a result of last week's vote to leave the European Union, a decision that will stunt global economic growth as well, Goldman Sachs' top economists said on Sunday. "We now expect the (British) economy to enter


Gulf sinks on Brexit but comes off lows, Egypt hit badly

Middle East stocks fell sharply on Sunday because of Britain's vote to leave the European Union but Gulf bourses came well off their lows. Egypt was hardest hit because of concern that fund inflows into the country could shrink further. Most of the Gulf does not depend heavil


Dubai Islamic $871m rights issue oversubscribed

Dubai Islamic Bank has completed its Dh3.2 billion ($871.3 million) rights issue aimed at bolstering its capital, with the issue roughly three times oversubscribed, it said on Sunday. The rights issue will increase the share capital of the bank from Dh3.95 billion to Dh4.94 billi


Cbanks ‘will smooth Brexit-driven market moves’

Major central banks will limit market turbulence as much as possible after Britain voted to leave the European Union, the head of the Bank for International Settlements said on Sunday. Some of the world's biggest central banks offered financial backstops on Friday to soothe p


IT solutions ‘can solve compliance issues for banks’

Companies in the banking and finance sector in Bahrain can solve compliance challenges with information management technology solutions, said an industry expert. Whether they work in banking, insurance or capital markets, chief information officers (CIOs) and compliance o


Saudi non-oil GDP growth to slow to 2.8pc

Growth in Saudi Arabia's non-oil gross domestic product is expected to slow to 2.8 per cent this year from 3.4 per cent in 2015, Saudi central bank governor Ahmed Al Kholifey told state television station Ekhbariya. Kholifey, speaking in an interview broadcast late on Saturda


Gulf Capital wins ISO certification

Gulf Capital, a top alternative asset manager in the Middle East, has received ISO/IEC 27001 certification from The British Standards Institution (BSI) for its information security management system. This certification is created by a joint technical committee of the Internationa

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