Friday 22 May 2015

AlKhair Capital launches IPOs fund

AlKhair Capital Saudi Arabia, a leading Saudi-based investments institution, has launched the AlKhair Capital IPOs Fund which will invest mainly in primary markets in the region. The fund aims at capital growth in the long term and investors will be able to invest with an initial


Alghanim named co-chair of Mena World Economic forum

Kuwaiti-national Omar Kutayba Alghanim, chief executive officer of Alghanim Industries, has been appointed as the co-chair of the World Economic Forum on the Middle East and North Africa, which will take place later this month in Jordan. The event will be held from May 21 to 23,


Waha Capital to invest $1bn by 2020

Abu Dhabi investment firm Waha Capital plans to invest up to Dh4 billion ($1.08 billion) by 2020, the company said on Sunday after posting a 20 per cent rise in first-quarter profit. Waha is looking to invest in sectors with high growth potential such as energy, infrastructure, h


ME firms brace for high compliance staff costs

Majority of the companies in the Middle East region expect the cost of senior compliance staff to increase this year, up from 57 per cent in 2014, said a report. It may be that perceived geo-political risk is at least one factor in recruiting and retaining staff in the region. An


Modern Exchange opens new outlet in Bahrain

Modern Exchange Company (MEC) Bahrain, a financial services company, has opened its third outlet in the kingdom. The outlet at Gudaibiya Avenue, near Dasman Centre was inaugurated by company director Abdulla Esam Fakhro, reported the Gulf Daily News, our sister publicati


GGICO posts $5.7m Q1 net profit

Gulf General Investment Company (GGICO), leading investment company listed in Dubai Financial Market (DFM), has registered a net profit of Dh21 million ($5.7 million) for the first quarter compared to Dh22 million last year.   Announcing the results, GGICO said its gross pro


Morocco to regulate Islamic insurance

Morocco's government has adopted a bill to regulate Islamic insurance, legislation that will face a final vote by parliament later this year, a cabinet statement said. It is the last step in Morocco's legislative package to regulate the country's fledgling Islamic fin


KFH pivots to Turkey as it mulls Malaysia exit

Kuwait Finance House (KFH) is exploring the possible sale of assets including its Malaysia unit, as the Islamic lender looks for a leaner structure while seeking greener pastures through its Turkey franchise. Kuwait's second largest lender and one of the world's oldest Is


Alarm over Bahrain subsidy cut plan for expats

Proposals to slash government subsidies for foreigners and the private sector in Bahrain have prompted concerns among business leaders and the expatriate community, said a report. Subsidy cuts would reportedly hit expatriates and companies first, with the details yet to be ironed


UK may extend plan to sell more Lloyds shares

Britain is considering selling more shares in Lloyds Banking Group by extending a trading facility beyond the current deadline at the end of June, people with knowledge of the matter said. Morgan Stanley has sold a five per cent stake in Lloyds since December through a "pre-

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