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Neuberger Berman, PIF collaborate for $6bn investment programmeNeuberger Berman, a global investment manager, and the Public Investment Fund (PIF) have signed a non-binding memorandum of understanding (MoU) to accelerate the growth of Saudi Arabia and Middle Eastern capital markets by working together to support up to $6 billion in investments in Saudi A More… |
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Sobha Realty $500m sukuk oversubscribed by 3 timesSobha Realty, a leading global luxury real estate developer, on Tuesday announced the successful issuance of $500 million sukuk under its recently established $1.5 billion Sukuk Issuance Program. This latest sukuk will be listed on the London Stock Excha More… |
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Al Salam Bank net profit increases 32.7% in Q1Al Salam Bank has announced a record net profit attributable to shareholders of $49.3 million for the first quarter of 2025 (Q1 2025), marking a 32.7% increase from $37.2 million reported in Q1 2024. The growth in profitability was primarily driven by the strong performance More… |
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NBB reports highest quarterly profit of $74.5mNational Bank of Bahrain (NBB) has reported a 2% year-on-year increase in net profit attributable to shareholders reaching BD28.1 million ($74.5 million) for the first quarter ended 31 March 2025, compared to BD27.5 million ($72.9 million) in the same period of 2024. More… |
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Bank ABC Islamic reports 33.7% rise in net profit to $14.4mBank ABC Islamic – on Tuesday announced a robust financial result for the first quarter of 2025, reporting a net profit of $14.4 million, a 33.7% increase compared to $10.8 million for the same period last year. This growth was achieved at the back More… |
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Yaser Alsharifi represents Bahrain banking sector on Union of Arab Banks boardThe Union of Arab Banks (UAB) has announced the selection of Yaser Alsharifi, Chairman of the Bahrain Association of Banks, as the representative of the Bahraini banking sector at the union. Alsharifi received an official letter from Dr Wissam H F More… |
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Bank ABC reports Q1 net profit of $76mBank ABC (Arab Banking Corporation) said the group has made a resilient start to the year, against a backdrop of challenging economic conditions, reporting a net profit attributable to the shareholders of the parent of $76 million for the first quarter, representing a 1% headline increase ove More… |
Nasdaq Dubai welcomes $500m Green Sukuk by OmniyatNasdaq Dubai today welcomed a $500 million Green Sukuk by Omniyat, a leading Dubai-based real estate developer. The three-year sukuk, maturing on May 6, 2028, was issued under a $1 billion Trust Certificate Issuance Programme and carries a profit rate of More… |
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GCC economic outlook remains strong: HSBCThe economic prospects for the Gulf Cooperation Council (GCC) region, particularly the UAE, remain strong despite global headwinds, Simon Williams, Chief Economist for Central and Eastern Europe, Middle East and Africa at HSBC, has said. Speaking to the Emirat More… |
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Mumtalakat posts record net profit of $963m for 2024Bahrain Mumtalakat Holding Company (Mumtalakat), the sovereign wealth fund of Bahrain, has announced its highest consolidated net profit since its inception in 2006, reporting a consolidated net profit of BD363 million ($963.1 million) for the year ended December 31, 2024. More… |
