Wednesday 23 July 2014

DFM Q2 profit more than triples on higher volume

The net profit of Dubai Financial Market (DFM), the Gulf's only listed bourse, more than tripled in the second quarter on higher trading volume, the exchange said on Thursday.   The firm, which runs securities trading in Dubai, made a net profit of Dh252.5 m


Islamic finance body IILM re-issues $890m sukuk

Malaysia-based International Islamic Liquidity Management Corp (IILM) has reissued $860 million of its three-month Islamic bond, the organisation said on Thursday.   The three-month sukuk, rated A-1 by Standard and Poor's, was priced at a yield of 0.52 per c


Bank Muscat Q2 profit jumps 22pc

Bank Muscat, Oman's largest lender, posted a 22.3 percent increase in its second-quarter net profit on Thursday, beating analysts' estimates as it booked a one-off gain from the merger of its Bahraini affiliate. The bank made a quarterly profit of 46.6 million rials ($121


Trading in Arabtec shares suspended

Regulators in the United Arab Emirates suspended trade in shares of Dubai construction firm Arabtec on Thursday, in a sign they intend to become more active in pushing companies to disclose information. Arabtec shares, which are often the market's most heavily traded, plunged


Qalaa chairman increases CCP stake by 4pc

Qalaa Holdings chairman and founder has increased his stake in Citadel Capital Partners, which is a lead investor in the company, by four per cent.   The transaction brings Ahmed Heikal’s ownership of CCP to 58.84 per cent, said a statement. &


Doha Bank Q2 net profit up 9.9pc

Doha Bank, Qatar's fourth largest lender by assets, posted a 9.9 percent rise in second-quarter net profit on Thursday, in line with analyst estimates. It made 388 million riyals ($107 million) in the second quarter, according to Reuters calculations, up from 353 million riya


India taxation move 'to attract GCC investment'

Non-Resident Indians (NRIs) in Bahrain foresee an influx of GCC investment in India in the coming years, with the debut budget of the new Indian government clarifying its stance on retrospective taxation.   Prime Minister Narendra Modi's new government has p


Bahrain banks' balance sheet rises to $192.6bn

The consolidated balance sheet of the banking system in Bahrain, comprising retail and wholesale banks, stood at $192.6 billion at the end of March this year, according to Central Bank of Bahrain data.   This was a slight increase over the consolidated balance s


Tenmou selected as World Bank case study

Tenmou, Bahrain's first 'Business Angels', has been selected as a World Bank case study due to its success and innovation.   The World Bank report, titled "Creating Your Own Angel Investor Group: A Guide for Emerging and Frontier Markets",


Investor issues in focus at Arqaam meet in Dubai

More than 100 institutional investors from around the world and senior management of leading MEA firms, will discuss growth, funding and competitive strategies at an investors’ conference in Dubai in September.   The Arqaam Capital Gulf Co-operation Counci

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