Monday 30 November 2015

Abraaj to sell full stake in Saham Finances

Dubai-based Abraaj Group, a leading investor operating in global growth markets, has fully exited its shareholding in the leading African insurer, Saham Finances. Abraaj sold a portion of its stake in Saham to Sanlam Group, a leading financial services group that provides compreh


Senior trio leave top UAE bank NBAD

Three senior bankers have resigned from National Bank of Abu Dhabi (NBAD), the UAE's largest bank by assets, sources aware of the matter told Reuters. Gary Dugan, chief investment officer and head of investment strategy, left the bank according to three of the sources, with o


Bahrain's Nogaholding seeks debut $350m loan

Nogaholding, the holding company for oil and gas assets owned by the government of Bahrain, is seeking a $350 million sharia-compliant loan in what would be a first for the group, banking sources aware of the matter said. The firm joins a number of other oil and gas companies, in


Boost for Bahraini banks as Fitch affirms ratings

Fitch Ratings has affirmed National Bank of Bahrain’s (NBB), Bank of Bahrain and Kuwait’s (BBK) and Arab Banking Corporation’s (ABC) long-term issuer default ratings (IDRs) at ‘BBB-’. Fitch has also affirmed Ahli United Bank (AUB) IDR at ‘BBB+’ and Gu


Economic issues to be probed at Bahrain forum

A key forum to be hosted by Bahrain at the start of next week brings together global decision-makers to discuss economic development against the backdrop of regional insecurity. The International Institute for Strategic Studies (IISS) Bahrain Bay Forum will be held at the Four Seasons Hotel B


Bahrain ‘smart choice for investors’

With competitive costs, easy access to the rest of the Middle East, and a well-established business infrastructure, Bahrain is the smart choice for investors, a leading expert has said. 3D Speaking founder and chief results officer Mohamed Abdulla Isa said people are the country’s bigge


Deadline set for austerity plans in Bahrain

Bahrain’s ministries and government bodies have been given one week to submit their plans for reducing spending by at least 30 per cent. Action will be taken against any who miss the December 1 deadline, Information, Parliament and Shura Council Affairs Minister and official government


Dollar hits 8-month high on rate views

The dollar rose to an eight-month high on Monday amid heightened expectations that the US Federal Reserve might raise interest rates next month, driving down the prices of copper, gold and other metals. World equity markets slipped, with US stocks ending slightly lower in quiet t


Gulf banks rush to loan market on liquidity squeeze

Gulf banks are rushing to raise money via the loan market by the end of the year in a flurry of activity attributed to a liquidity squeeze caused by lower oil prices, banking sources aware of the matter said. At least nine institutions, including from Qatar, the UAE, Bahrain and


Takaud gives 'need to save' message to ladies society

Takaud, a specialist provider of savings, investment and pension solutions for the Mena region, hosted members of the International Women’s Society for a seminar showcasing Takaud’s message of the need-to-save for long-term financial security, and the necessity of sound financial pl

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