Monday 31 August 2015

Asia stocks take heart from Wall Street rally

Asian stocks extended gains on Thursday as a sharp rebound on Wall Street and gains in battered Chinese shares eased fears of a deep and protracted global market rout, while the dollar rallied as risk aversion eased. Sentiment was also supported by comments from New York Fed Pres


Citigroup wins 'Bank of the Year' at Euromoney awards

The Citigroup has won the 'Bank of the Year 2015' accolade at the Euromoney award for excellence recently.   Kingdom Holding Company (KHC) and its chairman Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud are among largest investors in Citigroup, said a st


World shares sag as China jitters persist

World shares sagged on Wednesday as investors feared fresh rate cuts in China may not be enough to stabilise its slowing economy or halt a stocks collapse that is wreaking havoc in global markets. Europe's main stock markets, which had surged on Tuesday after China's move


ADIB offers rights issue through internet, mobile banking

Abu Dhabi Islamic bank has started offering rights holders who are also its customers, the ability to subscribe to its rights issue through the ADIB internet banking portal and the ADIB mobile banking smartphone application.   The offering, which is the first of


EDB to showcase Bahrain in China

A high-level business delegation from Bahrain will travel to China in September to meet Chinese political and private sector leaders, the Economic Development Board (EDB) announced yesterday (August 25). The EDB, which has organised the visit, said it aims to further strengthen fast-growing t


Bahrain SMEs society elects new board

A new board led by Ahmad Alsaloom as chairman has been elected by the Bahrain Small and Medium Enterprises (SMEs) Development Society. Khalaf Hujair is the vice-chairman, with Abdul Karim Al Rashid, Nofal Al Kooheji, Adel Al Safar, Khulood Abdul Qadir and Dr Fadheela Hussain as members, said


Key innovations in focus at major Islamic forum

The annual World Islamic Banking Conference (WIBC) in Bahrain is set to yet again galvanise the global Islamic banking and finance industry, organisers have said. WIBC 2015 in December will be the first in over two decades to fully harness technology, social media and cutting-edge research, t


Oil prices plunge fuels budget fears in Bahrain

Oil prices plunged again this week to fresh six-year lows, casting doubt on Bahrain’s budget calculations for the next two years. Concerns about a slowdown in Chinese demand following the Asian stock market crash of two days ago dubbed “Black Monday” – combined with a


Noor Bank to help arrange Indonesian sukuk

Noor Bank plans to help arrange a sukuk or Islamic private placement on behalf of the Indonesian government, with the Dubai-based Islamic finance institution also underwriting part of the deal, a company executive said. Noor Bank is looking to Indonesia, Turkey and other internat


Stocks slip as China rate cuts fail to calm nerves

Asian stocks fell on Wednesday as investors feared fresh rate cuts in China would not be enough stabilise its cooling economy or halt a collapse in its stock markets. China's key share indexes attempted to move higher several times in early trade only to be slapped back by wa

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