News
Saudi market buoyed by high oil income, fiscal surplus
After a turbulent period through 2011, the Tadawul bourse has climbed by nearly 3.6% by the end of last week since the start of the fourth quarter of 2011.
Saudi Arabia: GCC Growth and Income Fund to gain from market optimism
NCB Capital has launched a new long-term open-ended fund investing in GCC Shariah-compliant companies that would generate stable dividends due to sound business models and strong profitability.
Key role for HSBC in Almarai deal
HSBC acted as the sole financial adviser to Almarai Company in its 100% acquisition of Fondomonte, a company that owns and operates three farms in Argentina.
Central Bank of Iraq sells USD 283 million in its Monday auction
CBI has sold USD 283 million in its Monday auction for sale and purchase of foreign currencies, in a bid to continue the process of pumping foreign currency to restore the value of exchange to its ...
KPMG holds training on Islamic finance in Muscat
The audit firm organised a training on Islamic finance products and their accounting treatment under IFRS, for its clients and members of professional staff.
CBB Sukuk Al-Salam securities fully subscribed
The Central Bank of Bahrain said the monthly issue of the Sukuk Al-Salam Islamic securities for the BHD 18 million issue, which carries a maturity of 91 days, has been subscribed by 183%.
Strong appetite for Islamic finance products in Oman
Omani consumers have expressed a strong appetite for Islamic finance with a rapid take-up of banking products expected within the first 12 months of being launched, according to a report.
Oman: OMFI declares second dividend for this year
Oman Fixed Income Fund (OMFI) has announced final dividend distribution of 4.36% of its paid-up capital for the year 2011.
UAE banks to remain closed Sunday to mark new year
The Central Bank has issued a circular announcing Sunday 1 January 2012 as an official holiday for the banking sector.
Saudi Savola cuts real estate exposure, focuses on core business
Savola Group, Saudi Arabia's largest food company, said it has signed a deal to sell its 80% stake in a real estate firm to Knowledge Economic City, as it focuses on its core business.