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Shareholders at Bahrain-based Islamic banks Capivest, Elaf Bank and Capital Management House will vote on a proposed merger this month.
UAE market regulator the Securities and Commodities Authority (SCA) has drafted new regulations intended to increase transparency in takeover deals.
GCC, foreign assets, Gulf Cooperation Council, Barack Obama, bonds, liquidity. commercial banks, overseas accounts, government entities, Arab world GDP, credit exposure, Bahrain, banking, private sector,
Saudi Arabia has for the first time published data on the total foreign assets and liabilities of government, companies and individuals
Mubadala Development Company (MDC) subsidiary Mubadala Aerospace and Boeing announced on 17 April that they had signed a 10-year contract for Strata Manufacturing, Mubadala Aerospace’s advanced composite aerostructures facility in Al Ain, to build ribs for the tail section of the 777 mini-jumbo and the vertical part of the tail of the 787 Dreamliner.
A series of probes has exposed major irregularities at Bank Alkhair, prompting a criminal case and allegations of serious regulation violations, but the region’s business elites appear resilient
UK-based metals magnate Victor Dahdaleh and former Aluminium Bahrain (Alba) chief executive Bruce Hall, charged in connection with an alleged scam to defraud Alba, appeared in court in London on 2 March for a procedural hearing.
A British consultant has been studying Iranian bank data and concludes that the 20 state and privately owned banks are rather less solvent than their profits and asset reporting might suggest
Western powers have added more sanctions to a raft of measures intended to pressure Iran into modifying its nuclear ambitions, but a pocket of finance is still available for businesses seeking to trade with the Islamic Republic.
The Al-Gosaibi/Maan Al-Sanae saga has had a significant knock-on effect on risk perceptions for Saudi Arabia (GSN 899/11).
Risk perceptions and, consequently, trade financing margins have changed markedly during 2011, the most volatile year in recent Middle East history, according to trade finance market participants.
Saudi officials, including General Authority of Civil Aviation president Faisal Al-Sugair and Najran governor Prince Mishaal Bin Abdullah Bin Abdelaziz, have visited the new SR400m ($106.6m) Najran regional airport where Saudi Arabian Airlines will shift its operations on 18 September.
Increased sanctions and political unrest are causing banks and trading firms to back away from markets such as Syria, Yemen and Iran, although Iraq is starting to regain momentum
Kuwait has been shaken by the sudden death in Cairo of prominent businessman Nasser Al-Kharafi after a heart attack. Al-Kharafi, who was in his mid-60s, was widely regarded as the patriarch of a family that has played a leading role in developing the emirate’s business sector and was a favourite of
The Abu Dhabi government-owned International Petroleum Investment Company (Ipic) has offered to acquire from France’s Total the entire share capital it does not already own in Spain’s Compañía Española de Petróleos (Cepsa).
