Thursday 18 September 2014

UAE equity firm eyes Turkey for second, $500m fund

Mena Infrastructure, a private equity firm jointly owned by HSBC, Dubai-based Fajr Capital and Abu Dhabi's Waha Capital, aims to make its first foray into Turkey next year. It plans to raise $500 million for its second sharia-compliant fund, MENA Infrastructure Fund II, which


Sharjah 'won't return to capital markets'

Sharjah has no plans to become a regular issuer for now despite drawing demand more than 10 times the value of its $750 million debut sukuk issue, the director of its debt management office said yesterday. Although it is developing its tourism and manufacturing industries, the th


Dubal holds talks with banks on raising loan

Dubai Aluminium (Dubal) has held talks with banks about raising a loan to help fund its general operations, the first time the firm has commissioned such a facility in years, three banking sources told Reuters. While it is a rarity for the company to raise money not tied to a spe


NBK chosen 'safest bank' in Arab world

National Bank of Kuwait (NBK) has been selected as the “Safest Commercial Bank” in the Arab World and ranked 23rd among the World’s Top 50 Safest Commercial Banks in 2014 in a survey. NBK also maintained its ranking among the World’s Top 50 Safest Banks in


UK manufactures cautious on investment

British manufacturers are cautious about increasing levels of capital spending, a trade group said on Monday, raising questions as to whether a recent pick-up in business investment is sustainable in the long term. A new survey by the EEF manufacturers' group and Lombard Asse


Sharjah ‘has no immediate plans for debt market’

Sharjah has no short-term plans to return to debt markets after drawing big demand for its $750 million debut sukuk issue, the director of its debt management office told Reuters on Thursday. "We do not have any short-term plans to come back to capital markets," Tom Koc


Mashreq H1 profit rises 40pc to top $315m

Mashreq has reported a 40 per cent increase in net profit for the first half, climbing to Dh1.16 billion ($315.8 million), compared with Dh828 million in the first half of last year. Net profit in the second quarter reached Dh585 million, an increase of 45 per cent from last year


Itqan Capital plans expansion in Saudi

Islamic investment firm Itqan Capital, based in the Saudi Arabian city of Jeddah, plans to expand its investment and advisory activities in the kingdom after it received regulatory approval to boost its capital, its chief executive said. Local investment firms are poised to see a


NBK tops safe Arab banks list

National Bank of Kuwait (NBK) has been selected the "Safest Commercial Bank in the Arab World" and ranked 23rd among the "World's Top 50 Safest Commercial Banks in 2014", by Global Finance magazine. NBK also maintained its ranking among the World's Top


Visa launches new secure online payment service

Visa, the global leader in payments, has launched an innovative technology that provides a secure environment to help drive innovation in online and mobile commerce. Visa Token Service replaces sensitive payment account information found on plastic cards with a digital account nu

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