Tuesday 21 November 2017

ICA Conference to highlight GCC sovereign funds

The upcoming ICA Conference, a leading financial markets conference in Dubai, UAE, will address the rise of populism in the West, the importance of GCC sovereign wealth funds and the sharing economy. The 42nd edition of the event is taking place from 22-25 November at the Sofitel


Saudi Q3 non-oil income up 80pc; revenues rise 11pc

Saudi Arabia's non-oil revenues increased 80 per cent in the third quarter compared to the same period in 2016, confirming the feasibility of economic reforms, officials said.   Total revenues for the third quarter amounted to SR142.1 billion, an increase of


Egypt water project wins $42m Kuwait funding

The Kuwait Fund for Arab Economic Development, (KFAED) on Sunday signed a loan agreement with Egypt worth KD12.5 million ($42.5 million) to fund a project that will provide drinking water in the Sinai Peninsula. The project is targeting some of Egypt's most underdeveloped are


India’s PHD Chamber opens first international office in Bahrain

PHD Chamber of Commerce and Industry, a leading industry chamber in India with over 112 years of history, has opened its first international office in Bahrain to promote bilateral trade between India and the entire GCC region.   PHD Chamber president Anil Khaita


QInvest completes US murabaha transaction

QInvest, a leading private investment group in Qatar, has announced the exit of a real estate mezzanine murabaha transaction in the US. The transaction, backed by a diversified portfolio of 17 assets, generated an IRR of 14.9 per cent (representing a 1.23x multiple) over 20 month


Tadawul to hold crisis management workshop

The Saudi Stock Exchange (Tadawul) will host a workshop for listed Saudi companies at its headquarters in Riyadh on November 22, which covers crisis preparedness and its impact on shareholder value. It will be presented by Robert McAllister, global crisis management expert at Ins


Saudi banks Q3 income edges up marginal 0.4pc

The consolidated net income of Saudi Arabian banks was only marginally higher in the third quarter (Q3) of 2017, at 0.4 per cent quarter-on-quarter (q-o-q), resulting in an increase of 14.3 per cent year-on-year (y-o-y), a report said. The restriction on net income growth came ab


Abu Dhabi, Alberta in bid to boost bilateral trade

Officials from the of Emirate of Abu Dhabi and the Canadian State of Alberta have discussed ways of accelerating economic and investment cooperation, with a special emphasis on the petrochemicals, aviation, agriculture, food, education and industry sectors. This came at a meeting


UAE banks federation unveils new brand identity

Reinforcing its pivotal role in driving the continuous growth and development of the country’s banking sector, the UAE Banks Federation, a professional representative body comprising 48 member banks operating in the UAE, has launched a new brand identity. Inspired by the UA


Japan's SoftBank to invest $25bn in Saudi Arabia

Japan's SoftBank Group plans to invest as much as $25 billion in Saudi Arabia over the next three to four years, a Bloomberg report said

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