Friday 31 July 2015

Bahrain cbank to launch directory of women in finance

A who’s who of Bahraini women in the financial and banking sector will be published by the Central Bank of Bahrain (CBB), it was announced yesterday (July 26). The directory will feature an extensive history as well as illustrated photographs of the many talented Bahraini w


BHB opens subscription for $394m bonds

A BD150 million ($394.9 million) Government Development Bond issue yesterday (July 26) opened to direct subscription through the primary market, Bahrain Bourse (BHB) announced in a statement. Bahraini and non-Bahraini investors can subscribe to the issue through registered broker


Dubai Holding unit mulls Maltese telco stake sale

Emirates International Telecommunications (EIT), a unit of Dubai Holding, said on Sunday it plans to sell its 60 per cent stake in Maltese telecom operator Go. The company owned by Dubai's ruler said in an emailed statement it "has not yet approached or identified any bu


Kuwait inflation hits all-time high in June

Kuwait's statistics office reported consumer price for June jumping up by 3.5 per cent year-on-year, showing inflation at its highest since April 2012. Prices of food and beverages, which account for over 8 per cent of the basket, rose 3.6 per cent year-on-year and 0.7 per cent mon


FGB Q2 profit boosted by lending rise

First Gulf Bank (FGB), the third largest lender by assets in the UAE, posted an 8 per cent rise in second-quarter net profit on Sunday, with performance bolstered by growth in new lending and a drop in bad loans. The results continue a run of positive earnings for UAE lenders dur


UAE Exchange in tie-up to automate treasury

UAE Exchange, a leader in global remittance and foreign exchange solutions, has tied up with SunGard, a top financial software company, to fully automate its treasury operations in a bid to boost its operational growth globally. The new software will aid UAE Exchange with reduced


Mena govts ‘eyeing new taxes to meet budget’

Mena governments are considering new tax measures to broaden their revenue base and increase tax yields in a bid to preserve economic stability and continue with development plans, according to experts at a recent summit in London. The evolving tax landscape in the Mena region wa


GIB H1 posts $47m profit

Gulf International Bank (GIB) reported a consolidated net income after tax of $47.3 million for the six months ended June 30, 2015, compared to $50.2 million in the prior year period. Prior year income included an exceptional, one-off recovery of a previously written off loan, th


GFH to buy 80pc stake in top Dubai school

Dubai-based investment bank GFH Capital, a subsidiary of GFH Financial Group, has agreed to acquire a majority stake (80 per cent) in a leading private school valued at Dh200 million ($54.4 million) in the Emirate. The school (the name of which has not been revealed) was establis


KFH-Bahrain, Gulf Air ink strategic deal

Kuwait Finance House – Bahrain (KFH-Bahrain) has signed a memorandum of understanding (MoU) with Gulf Air, which entitles KFH-Bahrain credit card holders to discounts whenever they purchase travel tickets through Gulf Air online. Gulf Air acting chief commercial officer Ahm

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