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Islamic finance in Tunisia could reach 40pc shareTunisia's fledgling Islamic finance industry could take a 25 to 40 per cent share of the country's financial sector in five years' time if necessary rules, consumer education and private investment plans materialise, a Thomson Reuter More… |
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Aramco-Dow JV raises funding for $19bn projectSadara Chemical Co, a joint venture between Saudi Aramco and Dow Chemical , has signed a fundraising package for the $19.3 billion petrochemical complex it is building in the east of the kingdom, three banking sources said. The fi More… |
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‘Poor nations to triple spending on nutrition’The world's poorest nations are set to nearly triple spending on nutrition programs for mothers and children over the next two years to help cope with volatile food prices, the World Bank said. The Washington-based global deve More… |
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Dubal staff raise funds for autism centreDubai Aluminium (Dubal) has raised Dh200,000 ($54,451) in support of the Dubai Autism Center (DAC), through an internal campaign involving its employees. The campaign, which ran throughout April (marked as ‘autism month&rsqu More… |
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ADCB repays govt emergency fundsAbu Dhabi Commercial Bank (ADCB) has repaid the remaining Dh2.6 billion ($713.3 million) of a Dh6.6 billion loan facility it received from the government in the wake of the global financial crisis, the bank said in a statement on Sunday. More… |
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Firm to raise $48m for Bahrain hotel projectWork stalled at the Banader Rotana Hotel project in Bahrain is expected to resume shortly as the developer Banader Hotels Company secures the additional $47.7 million funding needed for completion, officials said. "We are in More… |
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Regulations, expectations stymie funds in MEAcross much of the Middle East, economic growth is strong and financial markets are picking up. But there is surprisingly little cheer in the region's asset management industry, which faces continued pressure to cut costs a More… |
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Gold hits 1-week low as funds sellGold hit its lowest in a week on Thursday, pressured by heavy fund liquidation a day after European Commission documents showed Cyprus must sell around 400 million euros' ($523 million) worth of gold reserves under its bailout. More… |
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DIB repays $1.2bn UAE emergency fundsDubai Islamic Bank (DIB) has repaid the entire amount of Dh3.75 billion ($1.02 billion) it had received in emergency funds from the UAE Ministry of Finance in 2008 to cope wit the global financial crisis. Announcing the achievemen More… |
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Gulf Capital sees assets doubling in five yearsAbu Dhabi-based private equity firm Gulf Capital expects assets under management to double by 2018 as it launches new funds to invest across the Middle East, its chief executive said on Monday. Gulf Capital manages close to $2 bil More… |
