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Key project to be showcased

MANAMA: The southern tip of the island is fast becoming a significant destination, both for residents and visitors to Bahrain, a leading developer has said.

Durrat Marina, in a statement, said it is showcasing its marina lifestyle offering at Cityscape Global from Sunday to Tuesday at the Dubai...ReadMore


Ithmar Capital seeking Dubai bourse flotation

DUBAI: UAE-based private equity firm Ithmar Capital has picked Credit Suisse and Deutsche Bank to manage the flotation of a vehicle it hopes to list on the Dubai bourse by year end, sources said.

Key broadband market boost for customers

MANAMA: Bahrain's broadband market is competitive and continues to deliver lower prices, higher service speeds and data allowances to residential customers and small enterprises, according to the Telecommunications Regulatory Authority (TRA).

DFSA freezes deposits of Espirito Santo unit

DUBAI: The Dubai Financial Services Authority (DFSA) said yesterday it was freezing deposits and imposing other restrictions on private banker ES Bankers (Dubai) (ESBD), part of the Portuguese Espirito Santo family's troubled empire.

Oman facility to lift capacity

MUSCAT: Oman's Sohar Aluminium plans to spend $35 million over the next five years to boost production capacity, chief executive Mohammed Al Masoudi said yesterday.

Demand for new ECB loans falls

FRANKFURT: The European Central Bank (ECB) saw far less demand than expected yesterday for its new four-year loans to banks, raising doubts about a stimulus package it hopes will stave off deflation and revive the euro zone economy.

BBK launches authentication technology

MANAMA: BBK has launched a dual factor authentication technology, which the bank said provides yet another level of security for its customers when they transact online.

Investment is discussed

MANAMA: The Economic Development Board (EDB) hosted a delegation of Indian journalists to promote investment opportunities in the kingdom and further strengthen bilateral ties between the two countries.

Jobless claims data boost for US

WASHINGTON: The number of Americans filing new claims for unemployment benefits fell more than expected last week, suggesting that a sharp slowdown in job growth last month was probably an aberration.

World Bank issues probed

MANAMA: Finance Minister and Minister in charge of Oil and Gas Affairs Shaikh Ahmed bin Mohammed Al Khalifa held high-level talks with World Bank director for GCC Dr Nadir Mohammed.

Qatari firm scraps plan

DUBAI: Industries Qatar, the Gulf's second-largest petrochemicals firm, said yesterday it had put its multi-billion-dollar Al Sejeel petrochemical complex project on hold and was studying a new scheme instead that would yield better returns.

Mideast banks buy Goldman $500m sukuk

DUBAI: Middle Eastern banks bought the vast majority of a debut $500 million sukuk issue by Goldman Sachs, a positive sign for other conventional banks hoping to tap the region's liquidity by issuing Islamic debt, according to data from lead managers.

China blow as house prices slide

BEIJING: Worries that China's economy may be slowing further intensified yesterday as data showed home prices fell for the fourth straight month, adding to expectations that Beijing will need to do more to stimulate activity.

Etihad raising $2bn to fund investment

ABU DHABI: Abu Dhabi's Etihad Airways is on track to raise about $2 billion in loans this year to fund its equity investments around the world and aircraft purchases, its chief financial officer said yesterday.

Mubadala's profit rises 23 per cent

ABU DHABI: Mubadala, the Abu Dhabi state-owned investment fund with a mandate to develop the emirate's economy, posted a 23 per cent increase in first-half profit, aided by higher income from joint ventures and one-off gains.


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