Thursday 23 March 2017

Insurance premiums set to grow in GCC: report

Gross premiums in the four largest GCC insurance markets will continue to increase in 2017 despite the the current economic slowdown in the region, which is the result of relatively low oil and gas prices, a report said. Credit conditions for rated insurers in the four largest Gu


Shaikh Ahmed named new GFH chairman

Bahrain-based GFH Financial Group (GFH), a prominent financial group in the GCC region, has appointed Shaikh Ahmed Bin Khalifa Al Khalifa as the new chairman of the company's board for the next two years, while Dr Ahmed Al Mutawa has been named the vice chairman. The announce


Qinvest, ex-Barclays CEO to buy oldest UK stock broker

Qinvest, the leading investment group from Qatar, has joined hands with Atlas Merchant Capital, a private equity firm co-founded by former Barclays chief executive Bob Diamond to buy Panmure Gordon, one of Britain’s oldest stockbrokers, said a report.   Qi


Dubai Chamber to open India office in Mumbai

The Dubai Chamber of Commerce and Industry plans to open its first Indian office in Mumbai later this year, a statement said. Senior officials from Dubai Chamber led by Chairman Majid Saif Al Ghurair and UAE Ambassador Dr Ahmed Al Banna met Chief Minister of Maharashtra state Devendra


Dubai non-oil foreign trade hits $347bn in 2016

Dubai's non-oil foreign trade in 2016 reached Dh1.276 trillion ($347 billion), rising 70 per cent from Dh754 billion in 2009, said Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. “We have achieved this growth despite the world credit crunch in 20


Emirates NBD unit launches India equity fund

Emirates NBD Asset Management has announced the launch of its Emirates Islamic India Equity Fund in partnership with UTI International, one of India’s largest money managers, following approval from the UAE Securities & Commodities Authority (SCA). The Fund aims to achi


Gulf sovereign Eurobonds to hit $33bn in 2017

The GCC sovereign Eurobond issuance volumes will remain high in 2017 - but below 2016's record levels - as governments seek to fund sizeable deficits at a time of strong investor demand, Moody's Investors Service said in a newly released report. However, movements in the


UAE launches VAT, excise awareness sessions

The UAE Ministry of Finance has launched a series of Value Added Tax (VAT) and excise awareness sessions to present to advisors and businesses on its progress and excise implementation. The first such session is aimed at the advisory community, followed by later sessions aimed at

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