Monday 24 November 2014
 
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finance

‘Standardisation vital for Islamic finance sector'

The standardisation of Islamic finance and the future of the industry were discussed at a key conference in Bahrain yesterday (November 17). Representatives of the Islamic banking sectors from more than 35 countries converged on t

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Jordan rejects IMF-proposed new taxes

Jordan’s Finance Ministry has rejected proposals from the International Monetary Fund (IMF) to increase sales and other taxes, according to a report. It has presented a package of alternative measures to increase revenues an

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ANB signs $692m finance deal with Huta Marine for Saudi port

Arab National Bank has signed a credit finance package worth SR2.6 billion ($692.8 million) with Huta Marine Works to finance the construction and development of the King Abdullah Port (KAP) project in Saudi Arabia. The bank is the mand

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Bahrain’s Islamic finance growth to hit $80bn

Bahrain continues to be the best performing country in Islamic finance with projected growth expected to touch $80 billion by the year-end. This was highlighted by the Thomson Reuters, research and development head Mustafa Adil du

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Bahraini car dealer launches new finance package

A new car finance package was launched by Bahraini Jaguar and Land Rover dealer Euro Motors at its Sitra showroom yesterday (October 27). The dealer has partnered with the Bank of Bahrain and Kuwait to offer customers a finance package

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Egypt considers $1.5bn bond as it repairs economy

Egypt could tap international bond markets to raise up to $1.5 billion next year to shore up its finances and is open to agreeing an International Monetary Fund loan package if needed, Finance Minister Hany Kadry Dimian said on Thursday.

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Tesco chief to quit over finance blow

The chairman of Britain's biggest grocery chain, Tesco, resigned after the company reported a bigger than expected hole in its finances and said accounting transgressions went back further than initially thought. Tesco, Britai

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Islamic finance grows twice as fast as traditional banks

Islamic finance is growing at twice the rate of the traditional banking industry in its core markets, which include Malaysia, Indonesia, Turkey and the GCC countries, according to an expert. The industry currently boasts $1.6 tril

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New trade finance solution in focus at Bahrain forum

A new trade finance solution not yet available in the Middle East is catching on fast in Western financial markets, it has emerged. Bank Payment Obligations (BPOs) is a payment instrument that's less risky than an open-account

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Ittihad, Irish firm set up aviation finance JV

Ittihad International Investment of Abu Dhabi, UAE, and Aviation Finance Company of Dublin, Ireland, have formed a joint venture that will bring finance and leasing solutions to the aviation industry in the Middle East, North and East Africa and

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