Hot News Headlines


Bahrain-Germany trade increases by $48 million

MANAMA: Bahrain-Germany bilateral trade increased by about $48 million during the first four months of the year, Bahrain Chamber of Commerce and Industry (BCCI) chief executive Nabeel Al Mahmood has said.

Speaking on the sidelines of the "German Breakfast and Catalogue Show" at The Westin Hotel,...ReadMore

BIBF-DinarStandard to launch key programme

MANAMA: BIBF, in partnership with DinarStandard, is launching the world's first training programme on the Convergence of the Halal Market Economy and Islamic Capital next month.

ABC finances key jet leasing transaction

MANAMA: Bahrain-based Arab Banking Corporation (ABC) yesterday announced it has provided a financing facility to Oman Brunei Aviation Leasing Company (OBALC).

Mobily officials may face action

RIYADH: Saudi Arabia's market regulator has recommended nine current or former officials at Saudi Arabian telecom operator Mobily be prosecuted for violations that include insider trading, a local financial news website reported yesterday.

Workshop to focus on liquidity risk

MANAMA: The General Council for Islamic Banks and Financial Institutions (CIBAFI), a global umbrella of Islamic financial institutions, has announced it is holding a technical workshop on liquidity risk management next month.

US-euro zone business growth slows

LONDON: US and euro zone business growth slowed in May while China's factory sector contracted again, reinforcing the need for major central banks to continue supporting economic growth.

IFSB eyeing guidelines for products

Kuala Lumpur: The Kuala Lumpur-based Islamic Financial Services Board (IFSB) is preparing guidelines for Islamic capital market products, retakaful (Islamic reinsurance) and stress testing, as the industry body tightens oversight of market practices.

Al Ahli Bank buying Piraeus Bank Egypt

KUWAIT CITY: Kuwait's Al Ahli Bank will pay $150 million for a 98.5 per cent stake in Piraeus Bank's Egyptian unit, a deal which will support its regional expansion and give the Greek lender a much-needed boost to liquidity.

ENOC seeks firm's shares

LONDON: Emirates National Oil Company (ENOC) went public yesterday with an offer to buy out minority shareholders in Dragon Oil for 735 pence a share, after talks with a committee set up by the Turkmenistan-focused oil explorer proved fruitless.

Sustainability in investing discussed

MANAMA: Major trends and issues relating to sustainability in investing and Islamic finance and sukuk came up for discussion at a key event.

Fitch Ratings' role is praised

MANAMA: Energy Minister Dr Abdulhussain Mirza yesterday met a delegation from the international credit rating agency, Fitch Ratings, led by the director of the Sovereign Group, JP Morgan, Paul Gamble, and his accompanying delegation.

Bidding set

DUBAI: Oman's United Finance yesterday said that National Bank of Oman had confirmed interest in taking part in a bidding process for a possible acquisition of the company.

Smartphone shipments post growth in Middle East

MANAMA: As premium brands shift to the digital arena, the news from the Middle East about the rise of smartphones is likely to further boost the luxury sector's fortunes.

Taqa plans to raise $3.5bn loan

DUBAI: Abu Dhabi National Energy Company (Taqa) is looking to raise a $3.5 billion loan as it seeks to consolidate a number of existing debts into one facility with a lower rate of interest, sources said yesterday.

IPIC eyeing arbitration

SEOUL: Abu Dhabi-based International Petroleum Investment Company (IPIC), which sold its controlling stake in a South Korean refiner in 2010 for over $2 billion, has filed a request for arbitration, seeking compensation for a tax payment stemming from the sale, according to a South Korean official.

Firms sign laboratory accord

MANAMA: Bahrain-based United Enterprises Group and Facade Design and Services, in collaboration with Istishara Consultants, have sign_ed an agreement to provide and operate Bahrain's first and only building system testing laboratory and on-site testing facility centre for building materials - UFDS.

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