Saturday 28 February 2015

Oil slump hurts investment in Qatar

A proposal by Qatar's Investment House for a QR750 million ($206 million) flotation of an agricultural firm has been shelved by regulators, while investment in Qatar is slowing generally because of weak oil prices, Investment House's chief executive said. Investment House


ADIB sheds light on investment trends at seminars

Abu Dhabi Islamic Bank’s (ADIB) Private Banking Group recently held a series of seminars for its high net worth customers in Abu Dhabi, Al Ain and Dubai, in line with its ongoing commitment to provide its customers with insights into regional and international investment trends.


American Express to raise credit card rates

American Express Co is raising interest rates for over 1 million cardholders for the first time in more than five years, Bloomberg reported. American Express told customers this month that their annual rates will rise an average of 2.5 percentage points to at least 12.99 per cent


ABC Islamic Bank profit up 23pc to 15m

ABC Islamic Bank has posted a net profit of $15.1 million last year, a 23 per cent increase as compared to $12.2 million recorded in 2013. The net profit for the fourth quarter was $3.6 million, 19 per cent higher than the same period of the previous year, said a statement.


Mubasher wins special recognition by Nasdaq

Mubasher Financial Services, one of the Middle East’s leading financial institutions, has announced that it has been recognised by Nasdaq Dubai as the ‘Retail Broker of the Month’ for January 2015.   This recognition reinforces Mubasher’s market posit


Opportunities in Saudi’s economic diversification in focus

The need for greater economic diversification in Saudi Arabia and the opportunities that diversification will create for local and international banks will be reviewed at an upcoming Euromoney conference in the kingdom. The Euromoney Saudi Arabia Conference 2015 take place on May


Oman's non-oil sector posts steady growth

The non-oil sector in Oman grew steadily by an average of 10.33 per cent annually over the 2010-2013 period mainly driven by the expansion under way in the sultanate's tourism industry, said an


Al Salam Bank Bahrain to pay $28m in dividend

The shareholders of Al Salam Bank Bahrain will get BD10.7 million ($28.2 million) as dividend following the approval of the board recommendation at the bank's Annual General Meeting yesterday (February 24). The dividend payout amounts to five per cent of the paid-up capital,


Islamic investment in Bahrain forum spotlight

The upcoming Global Islamic Investment Gateway (GIIG) in Manama will help consolidate Bahrain's standing as a leading innovator in Islamic finance always open to exploring new ideas, according to Economic Development Board (EDB) chief economist Dr Jarmo Kotilaine. With more t


BNH net profit surges 27pc to $10m

Bahrain National Holding Company (BNH) has reported a 27 per cent increase in consolidated net profit at BD3.8 million ($10.08 million) for last year when compared with BD3 million in 2013. BNH chairman Farouk Almoayyed said the group posted a strong overall performance, with imp

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