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International law firm Trowers & Hamlins has advised Capinnova Investment Bank on a $20m investment in a new retail construction project in Bahrain.

-backed, UK-based Islamic investment Gatehouse Bank and Swiss fund management company Sustainable Asset Management (SAM) have launched an open-ended sharia-compliant water fund. First close is scheduled for 31 October. Gatehouse chief executive David Test

It is unsurprising that the Gulf’s first sukuk default case is in Kuwait, where conventional and Islamic investment companies are under severe strain

It is unsurprising that the Gulf’s first sukuk default case is in Kuwait, where conventional and Islamic investment companies are under severe strain. The risk is systemic given that investment companies

ICs – whose numbers almost doubled to 99 in 2005-08 – have on- and off-balance sheet assets equivalent to more than 100% of the banking system’s assets. This makes the ICs “systemically important” – posing a systemic risk if their solvency deteriorated further.

Ratings downgrades for major Saudi investors, a potential systemic crisis in Kuwait where investment companies are in freefall, fraud charges against well-connected Dubai developers and a marked lack of performance by Abu Dhabi’s investment flagship.

Sheikh Hasher Al-Maktoum’s alleged involvement in corrupt business dealings will test Dubai’s courts. With real estate scandals blighting Dubai’s image, investors will be looking to the judiciary to restore confidence.

Moody’s Investors Service on 9 June applied a ‘negative’ ratings outlook to Kuwait’s Aa2 sovereign ratings – a downgrade from the previous ‘stable’ – adding to investor discomfort during a period when Kuwait-based financial institutions have come under intense scrutiny.

An easing in UAE market liquidity could represent an early turnaround signal for GCC trade finance markets that have experienced unwelcome contractions linked to the wider global crisis. GSN canvassed market opinion to see if talk about a speedy upturn were warranted.

Aabar invests in European subsidiary of AIG, Mubadala posts Dh11.8bn loss for 2008, Brunei investment fund, German automotive industry attracts Qatar,

Oman and Uzbekistan signed an MoU in early April for a 75%/25% joint investment company …….

New administration but same pressures: new US sanctions against Iran’s largest state bank have underscored Washington’s determination to eviscerate Tehran’s trading capabilities.

Saudi Arabia has an estimated $500bn “stashed away in US treasuries” (bonds), as one expert puts it. And the view being ordered from above – from King Abdullah Bin Abdelaziz down – is that “more of this will be invested at home, as was signalled by lifting the limits on the amount the PIF [Public Investment Fund, chaired by Finance Minister

With unsubstantiated rumours of a potential bid for Liverpool FC splashed across the UK newspapers, and a new deal to work with Gazprom, Kuwait’s prominent Al-Kharafi family is receiving more attention than usual.

A joint investment fund between State Bank of India (SBI) and the government will be launched formally in March.