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Markets turn volatile on global growth fears

NEW YORK: Markets around the world turned volatile yesterday, gripped by fears of global growth slowdown and lower oil prices.

Wall Street ended flat, European markets trimmed losses after hitting lows, while stocks in Asia and the Middle East plunged.

The latest swings in the market re...ReadMore


Bahrain delegation to boost China trade ties

MANAMA: A high-level business delegation from Bahrain has begun a 10-day visit to China that aims to strengthen economic and trade ties between the two countries.

Garmco holds key units meeting

MANAMA: Bahrain-based Gulf Aluminium Rolling Mill Company (Garmco), one of the largest downstream aluminium facilities in the Middle East, brought together its representatives of all subsidiaries for a key meeting in Bahrain.

ECB eyeing extra funding for Greece

ATHENS: The European Central Bank (ECB) will loosen its rules on collateral quality to give Greek banks access to more funding, a Greek central bank official said, to keep lenders steady after Greek stocks and bonds dived.

Saudi bank's profit surges

DUBAI: Saudi British Bank, the kingdom's fifth-largest listed lender by assets, posted a 25.2 per cent rise in third-quarter net profit yesterday, in line with analysts' forecasts as operating income increased.

DIB's profit soars 56pc

DUBAI: Dubai Islamic Bank (DIB) posted a 55.7 per cent rise in third-quarter net profit, helped by a jump in income from Islamic financing as well as fees, commissions and foreign exchange.

KPMG names Breytenbach as partner

MANAMA: KPMG in Bahrain has announced the appointment of Eugene Breytenbach as a partner in the firm's audit department.

Aramco deal for Sepco

AL KHOBAR: Saudi Aramco has contracted a Chinese group for a project to help expand the capacity of the main gas pipeline across Saudi Arabia, which dates back to the 1970s, aiming to improve energy supply to industries in the west of the country.


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