Thursday 2 April 2015
 
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BBK's $400m bond issue ‘a big success’

Bank of Bahrain and Kuwait (BBK) has announced the closing of a bond issuance of $400 million. The issuance of an international senior unsecured bond with a five-year maturity date targeted professional investors in the Middle East, Far East and Europe, said a report in the G

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Khaleeji Commercial plans to reduce paid up capital

Shareholders of Khaleeji Commercial Bank (KHCB) have approved reducing the bank's paid up capital by 13.36 per cent, from BD115.4 ($303.8 million) to BD100 million through decreasing the number of shares from 1.1 billion to 1 billion shares, it was announced yesterday (March 30).

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BCCI ‘played crucial role in spurring Bahrain’s economy’

Since its inception in 1939, Bahrain Chamber of Commerce and Industry (BCCI) has played a crucial role in spurring the country's economy, said its chairman Khalid Almoayed. The chamber, then known as the General Merchant's Association, was established when the country was

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GCC banks register double-digit growth in 2014

The banking industry in the Middle East maintained double-digit revenue growth in 2014 with a 10 per cent increase, stemming largely from major customer segments such as retail and corporate banking as well as international business and treasury, said a report. Increases in opera

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Sico approves 9pc cash dividend

Securities and Investment Company (Sico), licensed by the Central Bank of Bahrain (CBB) as a conventional wholesale bank, has approved the payment of a cash dividend of BD3.86 million ($10.1 million), representing nine per cent of the paid-up capital. The dividend was recommended

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Investors warned over re-pricing risk in Q2

The current cycle of “extend and pretend” is coming to an end as the planned economy model of the past eight years comes to breaking point, an investment specialist has warned investors. The second-quarter (Q2) outlook for the global economy is dour, said Steen Jakobs

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Aramco signs $10bn revolving credit facilities deal

Saudi Aramco has signed a new $10 billion standby revolving credit facilities agreement as part of the company’s strategy of maintaining financial flexibility. The agreement replaces the existing $4 billion facilities agreement, which was signed in 2010. The

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UAE to allow 100pc foreign ownership of firms

The United Arab Emirates is at an advanced stage of drafting a foreign investment law to allow 100 per cent foreign ownership of businesses in some sectors, the country's economy minister said at a conference on Monday. Sultan bin Saeed Al-Mansouri also revealed new foreign d

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Investcorp to buy US education provider

Investcorp has agreed to buy a United States schools provider, the Bahrain-listed alternative investment fund said on Monday. The deal to acquire Nobel Learning, a major private education firm in the US with a network of 176 schools, is in partnership with Mumtalakat, the investm

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Arcapita sells freightliner for $800 million

Bahrain investment firm Arcapita has announced the sale of Freightliner Group, an international rail freight operator, to Genesee & Wyoming, a US-based international owner and operator of short line and regional freight railroads. Consideration for 100 per cent of the shares

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