Tuesday 22 July 2014
 
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Al Anwar wins case against Addax Bank

Oman-based Al Anwar Holding has won a legal case against Bahrain-based Addax Bank regarding investments made in the bank.   In a filing to the Muscat Securities Market (MSM),

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Oman fund 'may rescue Bulgaria's Corpbank'

Oman's State General Reserve Fund (SGRF) is seeking with other shareholders to stabilise Bulgaria's Corporate Commercial Bank and hopes a feasible plan will be put together within three months, an SGRF source told Reuters on Sunday.

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ADIB net profit jumps 22.5pc, cites higher revenue

Abu Dhabi Islamic Bank (ADIB), the largest sharia-compliant lender in the emirate, beat analysts' estimates on Sunday as it posted a 22.5 per cent jump in second-quarter net profit as core business income boo

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UNB ahead of forecasts with 5.6pc profit gain

Union National Bank, 50 percent owned by the Abu Dhabi government, edged ahead of analysts' forecasts as it posted a 5.6 percent increase in second-quarter net profit on Sunday due to lower impairments. The fifth-largest lende

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BRICS set up $100bn development bank

Leaders of the BRICS emerging market nations launched a $100 billion development bank and a currency reserve pool on Tuesday in their first concrete step toward reshaping the Western-dominated international financial system. The b

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National Bank of Oman net profit jumps 25pc

National Bank of Oman, the sultanate's second-largest lender by assets, posted a 25 per cent rise in second-quarter net profit, beating analysts' expectations.   The lender made a net profit of RO12.7 mil

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Tamkeen-BMI Bank extend key scheme

Bahrain's labour fund Tamkeen and BMI Bank, a subsidiary of Al Salam Bank Bahrain, have announced an extension of their partnership providing sharia-compliant financing to local enterprises.   This marks the

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Al Rajhi Bank Q2 profit slips 8.2pc

Al Rajhi Bank, Saudi Arabia's largest listed lender, posted a 8.2 percent decrease in its second-quarter net profit, it said in a bourse statement on Sunday, in line with analyst forecasts. The bank said it made 1.95 billion r

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Samba Q2 net profit up 7pc to $336m

Samba Financial Group, Saudi Arabia's third-largest bank by assets, posted a 7 per cent increase in its second-quarter net profit, it said in a bourse statement on Sunday, beating analyst forecasts. The bank said it made 1.26

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Saudi Hollandi Q2 net jumps 28pc

Saudi Hollandi Bank posted a 28.1 per cent increase in second-quarter net profit on Sunday, boosted by higher operating income. The kingdom's oldest bank and its seventh-largest listed lender by assets made a net profit of 480

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