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Political turmoil in Pakistan enters in dangerous phase

08/31/2014 11:28:18 AM

ISLAMABAD: Following the killings of 17 innocent civilians and critically injuring 83 people on Sunday, the political uncertainty causes cracks in the Prime Minister Mian Nawaz Sharif’s own party PML-N. The Chief Organiser of PML-N Sindh Provin > read more

Batelco Bahrain CEO Rashid Abdulla steps down

08/31/2014 05:11:14 AM

Manama: Batelco’s Chairman Shaikh Hamad Bin Abdulla Al Khalifa announced that Batelco Group Chief Executive Alan Whelan will assume the lead role for the company’s Bahrain operations following the resignation of Rashid Abdulla, Batelco’s Bahrai > read more

Prof Otoom new President of RCSI Bahrain

08/31/2014 05:05:10 AM

MANAMA: Professor, Sameer Otoom, has been appointed President of RCSI Bahrain. The decision was ratified during a meeting of the Higher Education Council in Bahrain. Professor Sameer Otoom has been a central figure in successfully establishing the Un > read more

Mobile device explosion to fuel ERP growth

08/31/2014 04:59:19 AM

Dubai: The steadily rising use of smart mobile devices such as smart phones and tablets in the Middle East workplace is expected to offer enormous opportunities to enterprise resource planning (ERP) vendors looking to tap this growth market, accordin > read more

TRA plans workshop on child online protection

08/31/2014 04:56:16 AM

Seef District: Telecommunications Regulatory Authority Bahrain (TRA) in cooperation with the International Telecommunications Union (ITU) plans to hold a workshop in the Kingdom of Bahrain on the essential subject of Online Child Protection. Safeguar > read more

Competition among regional airlines encourages efficiency

08/31/2014 04:53:19 AM

MANAMA: In the wake of a power struggle between regional carriers and continually growing airspace congestion, operational changes encouraging efficiency as an essential, according to Gulf air Acting CEO. “Despite this competition, there is plenty > read more

Capital Intelligence raises GFH rating to BB

08/31/2014 04:39:25 AM

MANAMA: Bahrain-based GFH in a statement said that Capital Intelligence (CI) has raised the bank’s long-term rating to BB from BB- and affirmed the short-term rating at B. The outlook for GFH’s ratings reverts to stable from positive foll > read more

Milipol Qatar: GCC security needs in spotlight

08/31/2014 04:36:18 AM

Doha, Qatar: The specific needs and requirements of internal State security markets within the GCC will be addressed at Milipol Qatar 2014 as participants and exhibitors are expected to highlight the latest technological advancements – both in term > read more

Batelco seeks $212m payment despite Siva’s bankruptcy

08/31/2014 04:30:43 AM

Manama: BMIC Limited (BMIC) a wholly owned subsidiary of the Batelco Group of Companies (Ticker: BATELCO), has successfully obtained over recent months from the High Court of England both a judgment against Chinnakannan Sivasankaran and Siva Limited > read more

Batelco recognises as major ICT provider

08/30/2014 20:24:05 PM

Manama: Batelco, the Kingdom’s leading business communications solutions provider, has been recognised by Avaya as a Gold Avaya Connect Channel Partner in Bahrain. This recognition by Avaya rewards Batelco’s commitment and experience, and also it > read more

Quality Wire produces global standard products

08/30/2014 20:19:38 PM

MANAMA: Industry and Commerce Minister Dr Hassan Fakhro applauded the high quality industry being set up at the Bahrain International Investment Park (BIIP). This came as the Minister visited Quality Wire Products Company at Bahrain International Inv > read more

Gulf Plastic Industries sales reach BD9m

08/30/2014 20:18:25 PM

MANAMA: Industry and Commerce Minister Dr. Hassan Fakhro confirmed the importance of initiatives and ambitious steps of national investment companies, and their role in enhancing Kingdom’s economic reality, referring to the government’s suppo > read more

Fruits, vegetables supply and prices stable

08/30/2014 20:16:26 PM

Industry and Commerce Minister Dr. Hassan Fakhro expressed government’s appreciation for efforts undertaken by the private and their remarkable collaboration with the government to enhance market stability and provide all the requirements for c > read more

ISIS poses great threat to Muslim Ummah

08/30/2014 20:05:13 PM

MANAMA: The Supreme Council for Islamic Affairs (SCIA) described the so-called the Islamic State of Iraq and Syria (ISIS) and other extremist and terrorist organisations as a looming threat to the Islamic nation and mankind. In a statement it issued > read more

GCC FMs endorses Yemeni President’s initiative

08/30/2014 20:03:49 PM

Jeddah: Minister of Foreign Affairs, Shaikh Khalid bin Ahmed bin Mohammed Al Khalifa, participated in the 132nd session of the GCC Ministerial Council at Jeddah Conference Palace. At the commencement of the meeting, the Foreign Ministers of the GCC c > read more

BCCI to host Japanese trade delegation

08/30/2014 19:58:50 PM

Bahrain Chamber of Commerce and Industry will host a commercial delegation from Japan on Monday, 1st September 2014 at 11a.m. at Al Majlis hall of Bait Al Tijjar. The delegation represents the Information System sector, and the meeting will be [̷ > read more

Takaud appoints new sales team

08/30/2014 19:57:35 PM

Takaud, the specialist savings and pensions provider for the MENA region, has strengthened its business with the appointment of an experienced sales management team, which will be based in Bahrain. The new appointments include Loay Ragheb as Chief Di > read more

Police fires tear gas for six hours continuously

08/30/2014 18:03:01 PM

ISLAMABAD: Islamabad Police on the directives of the Interior Minister Chaudhary Nisar Ali Khan fired thousands of tear gas canisters at the peaceful protesters on Sunday morning. The tear gas shelling continued for more than six hours resulting seri > read more

Nawaz’s Zionist regime kills seven, injures 300

08/30/2014 17:07:07 PM

ISLAMABAD: The Zionist Government of Mian Nawaz Sharif killed seven people and injured 300 people in the wee hours on Monday in the federal capital. The so called red zone in Islamabad turned into a battle field on Monday incompetent […] > read more

Qatar Airways to get 1st A350 XWB soon

08/29/2014 17:50:00 PM

TOULOUSE, France: Qatar Airways, the launch customer of the Airbus A350 Xtra Wide Body aircraft is set to receive its first delivery before the end of this year. The airline has ordered 80 of the wide body A350 XWB which […] > read more

Emirates SkyCargo adds Los Angeles

08/29/2014 17:09:35 PM

DUBAI: Emirates SkyCargo, the freight division of Emirates and global connector of trade and economies, has added Los Angeles to its network of freighter destinations across the United States, with the start of a weekly service to the city. Los [R > read more

Egypt’s economy to recover slowly: IHS

08/29/2014 17:06:43 PM

The Egyptian economy to recover slowly, leaving the national unemployment rate to decline over the next five years, according to Bryan Plamondon, Senior Economist, IHS Economics. IHS forecasts an average unemployment of 13.6% this year and 12.2% in 2 > read more

Quran denounces compulsion in religion: UNSG

08/29/2014 16:46:59 PM

Bali, Indonesia: The Quran clearly states that there should be no compulsion in the religion, the UN Secretary General told the participants of the 6th Global Forum of the Alliance of Civilizations. “All major faiths value peace and tolerance. > read more

Indonesia thrives on ethnic diversity: UNSG

08/29/2014 16:44:34 PM

Bali, Indonesia: This country, Indonesia, is home to a quarter of a billion people representing a thousand separate ethnic groups living wisely, harmoniously, side-by-side resolving all differences of opinion through dialogue. This was stated by UN S > read more

UNSG calls for resolving Palestine-Israeli conflict

08/29/2014 16:25:09 PM

Bali, Indonesia: The UN Secretary-General Ban Ki-moon met with Ayad Ameen Madani, Secretary-General of the Organization of Islamic Cooperation, in the margins of the Sixth Global Forum of the Alliance of Civilizations in Bali. On Gaza, the Secretary- > read more

PrivatAir commences flights on behalf of SAS

08/28/2014 03:45:20 AM

PrivatAir commenced a new business-class-only airline service between Stavanger and Houston on behalf of SAS, under a wet lease agreement. The route operates six days per week i.e. every day except Tuesday. “PrivatAir introduced long-haul busin > read more

Oil & gas sector face challenge to sustain profitability

08/28/2014 03:32:56 AM

MANAMA: The oil and gas industry faces the major challenge of sustaining profitability in the face of volatility. Recent events in Iraq have highlighted the need for flexible and fluid operational structures that take into account shifting circumstan > read more

HM King’s visit to India impacts positively on trade ties

08/28/2014 03:27:34 AM

MANAMA: The historic visit to India by His Majesty King Hamad bin Isa Al Khalifa has impacted positively on bilateral businesses between the two countries. This was revealed by Industry and Commerce Minister Dr. Hassan Fakhro to follow up the [… > read more

Bapco reiterates its support to CPISP

08/28/2014 01:13:12 AM

Awali: The Bahrain Petroleum Company (Bapco) presented its annual sponsorship contribution to the Crown Prince’s International Scholarship Program (CPISP), during a meeting at the Court of the Crown Prince with Advisor for Political and Economic Af > read more

Robert Johnson becomes President/CEO of ACFS

08/23/2014 14:35:16 PM

The board of trustees of the American College of Financial Services (ACFS) named Robert R. Johnson, Ph.D., CFA, CAIA, as President and Chief Executive Officer from October 1, 2014. Dr. Johnson’s extensive scholarship, experience in investment m > read more

MEBA eyes Dubai as global aviation hub

08/23/2014 14:23:39 PM

MEBA 2014 – the Middle East Business Aviation (MEBA) event, looks set to cement Dubai’s position as a global aviation hub, with exhibitors coming from over 45 countries to attend the show from 8-10 December this year. The bi-annual event [… > read more

DIFC’s verdict on mis-selling of products

08/23/2014 14:22:15 PM

The Dubai International Financial Centre Court (DIFC Court) announced its judgment on Saturday in the case of CFI 026/2009 Rafed Al Khorafi & 2 Ors v Bank Sarasin-Alpen (ME) Ltd & 1 Or. The case represents a landmark judgment of […] > read more

Technology deployment enhances 46% employee productivity

08/21/2014 09:56:28 AM

Today’s enterprise must meet the technology standards of today’s consumer. According to a recent IDG Enterprise report, enterprises that invest in consumerized, easy-to-use technologies experience a 56 percent increase in employee productivity an > read more

Elaf reports 96% occupancy during Ramadan

08/21/2014 09:40:23 AM

The Elaf Group of Companies announced its latest achievement as a major travel and tourism company. The Elaf Hotel at the Red Sea Mall in Jeddah has successfully achieved a 96 per cent occupancy rate during Ramadan. The high occupancy […] > read more

DMCA launches maritime safety awareness initiative

08/21/2014 09:37:18 AM

UAE: Dubai Maritime City Authority (DMCA), the government authority charged with regulating, coordinating and supervising all aspects of Dubai’s maritime sector, has revealed the launch of a new initiative that will see the distribution of free lif > read more

Bapco achieves 4th periodic OHSAS 18001:2007 Audit

08/21/2014 09:32:29 AM

AWALI: The Bahrain Petroleum Company (Bapco) has carried out its 4th Periodic OHSAS 18001: 2007 external audit, which was carried out by the DNV. In this regard, a close out meeting was recently conducted on at the Bapco Refinery. The […] > read more

BAC obtains Aerodrome Certification for BIA

08/21/2014 09:28:20 AM

MANAMA: Bahrain Airport Company (BAC), the managing and operating body of Bahrain International Airport (BIA), celebrated the renewal of the Aerodrome Certification from the Ministry of Transportation’s Civil Aviation Affairs (CAA). The Chief Execu > read more

World’s largest mobile app competition returns

08/21/2014 09:24:26 AM

Dubai: Applied Innovation Institute, Ooredoo and Pearson have announced that the Arab Mobile App Challenge (AMAC) will take place again in 2014, following the success of last year’s pilot competition. The Challenge, which saw thousands of participa > read more

Argentina’s latest default will not be short-lived

08/21/2014 09:22:48 AM

Argentina’s latest default will not be short-lived, according to new analysis from Carlos Caicedo, Principal Analyst at IHS Country Risk. “President Fernandez’s decision to request bondholders of restructured debt to change jurisdiction fro > read more

GCC cloud computing market set to grow seven folds

08/20/2014 14:28:04 PM

Dubai, United Arab Emirates: As cloud computing moves from hype to the business mainstream, facilitating regional adoption of cloud technologies and virtual storage solutions will come to the fore at this year’s Cloud Confex – a specialist, i > read more

ADX achieves 99% in disclosure compliance

08/20/2014 14:26:00 PM

Abu Dhabi: Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 99% regarding the disclosure of the 2nd quarter financial statements of its listed public joint stock companies within the deadline of 45 > read more

Wadi Degla Holding sets aside $30m for expansion

08/20/2014 14:22:45 PM

Degla Holding, a leading global group, announced $30 million would be spent to open 90 new restaurants across five markets, covering Europe, Egypt and UAE. This came as Degla announced the opening of its restaurant in Egypt that serves traditional, [ > read more

Smart City development in spotlight in Dubai Expo

08/20/2014 14:19:01 PM

UAE: The role of advanced ‘smart’ concepts such as ‘Big Data’ and ‘Cloud Computing’ in the development of genuinely ‘smart cities’ will be extensively covered through discussions and exhibitions at the Smart Living City – Dubai 2014 > read more

Hikma Pharmaceuticals revenues up 19.9% to $638.3m H1

08/20/2014 14:06:42 PM

Hikma Pharmaceuticals PLC (Hikma), the fast growing multinational pharmaceutical group with sales covering 50 countries across Europe, the Middle East and North Africa (MENA and the US, reported a 19.9% increase in revenues to $638.3 million for the > read more

VIVA launches free 4G LTE on smart plans

08/20/2014 13:49:17 PM

VIVA has introduced a promotion offering no down payment and free 4G service for a limited period on its Unlimited Smart plans. VIVA customers can get the latest 4G LTE smart phones including the Samsung Galaxy S5, Samsung Note 3, […] > read more

Emirates SkyCargo to launch freighter service to Basel

08/20/2014 13:38:22 PM

DUBAI: Emirates SkyCargo, the freight division of Emirates, is set to further strengthen trade lanes between Switzerland and its worldwide network with the introduction of a weekly freighter service from Basel to Dubai starting 21st September 2014. T > read more

Emirates’ 50th A380 aircraft gets ready in 65 days

08/20/2014 13:33:54 PM

HAMBURG: It takes 800 workers just 65 to 80 days to assemble, install, test, paint, furnish and deliver an Emirates Airbus A380, the iconic double-decker aircraft that has been creating headlines and delighting travellers since it first entered into > read more

SCPE invests $75m in Topaz Energy and Marine

08/20/2014 13:26:53 PM

UAE: Standard Chartered Private Equity (SCPE) announced today the acquisition of a minority stake in Topaz Energy and Marine (Bermuda) (Topaz), one of the world’s leading offshore support vessel operators, through an equity investment of US$ 75 mil > read more

Bright growth prospects for Kuwait’s petrochemical sector

08/20/2014 13:19:50 PM

Kuwait: In the backdrop of government investments and a thriving hydrocarbon sector, Kuwait’s petrochemicals sector is set to grow, according to Markaz report. Kuwait Financial Centre (Markaz) published a report on Kuwait Petrochemicals in whic > read more

BDF capable of protecting the Kingdom

08/19/2014 13:15:32 PM

MANAMA: His Majesty King Hamad bin Isa Al Khalifa paid a visit to the BDF General Command headquarters where he was welcomed on arrival by State Minister for Defence Affairs Lieutenant General Dr. Shaikh Mohammed bin Abdullah Al Khalifa, BDF [… > read more

Bahrain-NATO reviews ties, co-operation levels

08/19/2014 13:10:45 PM

The Minister of State for Foreign Affairs Ghanim bin Fadhul Al-Buainain received a North Atlantic Treaty Organisation (NATO) delegation led by Dr. Rolf Schwarz. The meeting explored bilateral cooperation, stressing keenness on boosting ties, aspects > read more

HH Shaikh Salman attends Unitag 40th anniversary

08/19/2014 13:03:09 PM

MANAMA: Unitag Group has marked the fortieth anniversary of its establishment in Bahrain. Group Founder and Chairman Jamil Wafa hosted a lunch banquet on this occasion, in the presence of His Royal Highness the Premier’s Advisor His Highness Sh > read more

Porsche Boxster GTS, Cayman GTS arrives in Bahrain

08/19/2014 12:56:31 PM

MANAMA: Porsche, the Boxster GTS and Cayman GTS hit the Bahraini market, according to Porsche Centre Bahrain, Behbehani Brothers. With powerful, uprated engines, the new models also feature the exceptional Porsche Active Suspension Management (PASM) > read more

VIVA announces of its interactive broadband quiz

08/19/2014 12:35:30 PM

VIVA announced the six lucky winners of its interactive broadband quiz who were rewarded with exciting 4G home routers and 4G mobile WiFis (MiFis) as well as prepaid 4G broadband connections with free 4G broadband data worth BD 15. The […] > read more

Bahrain Bourse honours Investors Relation Programme participants

08/19/2014 12:34:13 PM

MANAMA: Chief Executive Officer of Bahrain Bourse (BHB) Shaikh Khalifa bin Ebrahim Al-Khalifa and Ali Moosa, Managing Director and Senior Country Officer of J.P. Morgan Bahrain received the group of participants who attended the Investor Relations pr > read more

Over 14000 professionals clear level III CFA Exam

08/19/2014 12:31:11 PM

CFA Institute announced that of 26,882 candidates that sat for the Level III CFA exam in June 2014, 54 percent passed the third and final exam. Pending experience and membership requirements, these successful candidates will become CFA charter holder > read more

Basel III could help to boost Islamic banks’ capitalization

08/19/2014 12:17:22 PM

PARIS: Standard & Poor’s Ratings Services believes the Islamic Financial Services Board’s (IFSB) revised capital requirements for Basel III could help to strengthen the Islamic finance industry according to a report published on RatingsDi > read more

Melbourne maintains the most livable city ranking

08/19/2014 12:15:13 PM

Australia’s fastest-growing city, Melbourne, has again been recognised as the best city in the world to live, topping The Economist Intelligence Unit’s (EIU) Global Livability Index for the fourth year in a row. With Melbourne set to become Austr > read more

Iraqi govt raises concerns over arms supply to Kurdistan

08/19/2014 12:11:39 PM

The office of Iraq’s Commander-in-Chief released a statement saying that the Iraqi government had not granted foreign military aircraft the right to operate within Iraqi airspace and that the delivery of weapons to Kurdish Peshmerga forces viol > read more

Imran Khan walks out from Pakistan’s political field

08/18/2014 09:46:52 AM

ISLAMABAD: Chairman Pakistan Tehreek-i-Insaaf (PTI) Imran Khan on Monday walked out from the National Assembly in a graceful manner, the step likely to elevate the political stature of the PTI. Imran Khan along with his elected members reminded peopl > read more

Imran Khan’s PTI quits from National, Provincial Assemblies

08/18/2014 09:27:36 AM

ISLAMABAD: Pakistan Tehreek-i-Insaaf (PTI) on Monday resigned from the National and provincial assemblies’ seats, except PKP, as part of ongoing protest against the Government of Prime Minister Mian Mohammed Nawaz Sharif. The decision to this effec > read more

Tadawul favorite list for foreign investors

08/18/2014 04:26:25 AM

Mubasher Financial Services, one of the leading regional financial institutions in the Middle East, announced that MubasherTrade Research has launched a KSA Favorite List which highlights its top investment ideas across the Saudi market. The list com > read more

Saudi stock market expects $55b foreign investments

08/18/2014 03:49:46 AM

MANAMA: Finally, the largest MENA and GCC market will soon be opened to foreigner investors, with an expected $55billion of inflows, according to a report. Last month, Saudi Arabia revealed its intention to open up its $570billion stock market to [&# > read more

Bahrain setup a committee to implement Riyadh agreement

08/17/2014 16:37:45 PM

MANAMA: The Cabinet on Sunday decided to set up a committee headed by the Foreign Minister to take the necessary procedures for the implementation of the Riyadh agreement. His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa chaired > read more

Achieving single currency remains priority of GCC

08/17/2014 16:34:55 PM

MANAMA: His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa underlined that the Unified Gulf Currency is a goal which GCC citizens are looking forward to achieving, being a step towards the Gulf Union expected by “all of [ > read more

Bahrain to take strict action on citizenship violations

08/17/2014 16:32:15 PM

MANAMA: The Kingdom of Bahrain on Sunday said that it would take stern action against the violators of the Kingdom’s Citizenship Law. “Bahrainis who took the nationality of another country, whether of their own volition or through others’ i > read more

Bapco supports heritage preservation initiative

08/17/2014 15:49:38 PM

MANAMA: The Bahrain Petroleum Company (Bapco) has recently sponsored the Miracle Publishing on the occasion of the recent launch of its Bahraini book collection, to commemorate its 20th anniversary. Bapco’s Chief Executive, Dr. Peter Bartlett recei > read more

BIBF students excel in global exam

08/17/2014 15:48:28 PM

Manama: BIBF students who underwent the Association of Chartered Certified Accountants (ACCA) exams in June have attained an outstanding overall pass rate of 73% compared to a 44% global average, according to the exam results recently released by the > read more

BBK CE honours outstanding students

08/17/2014 15:46:31 PM

BBK’s Social Staff Activities Committee (SSAC) held its 12th ceremony of honoring the graduating students of the bank’s staff members’ sons and daughters whom have obtained a GPA above 90% in high school. The committee had honoured four student > read more

MENA region faces social progress challenges

08/17/2014 15:44:05 PM

The use of technology in the public sector, the increasing appetite for alternative investments, achieving capital efficiencies and cost savings in the workplace and measuring national performance via non-traditional indicators are all issues that ar > read more

$463m cloud computing MEA market to grow

08/17/2014 15:42:10 PM

Across the Middle East and Africa (MEA) region, cloud computing adoption is gradually taking off as per a recent industry survey. Between 2012 and 2017, the region is expected to have the highest cloud traffic growth rate in the world […] > read more

Kuwaiti real estate major enters Bahrain

08/17/2014 15:08:20 PM

MANAMA: Kuwait based Al Tijaria Real Estate Company announced to set up Bahrain operations as part of the company’s diversification strategy. As part of Al Tijaria Real Estate Company’s strategy of diversifying its investments and expanding geogr > read more

Batelco offers the best broadband packages

08/17/2014 14:57:57 PM

Manama: Batelco, the Kingdom’s leading Broadband services provider has already upgraded its Broadband packages twice since the beginning of the year, with customers benefitting from automatic upgrades offering higher speeds, bigger thresholds and l > read more

Alstom, Huawei launches 1st live 4G pilot for CBTC2

08/16/2014 19:40:53 PM

Alstom launched an LTE (4G) pilot for the metro market to demonstrate the performance of a multi-services broadband radio network. Alstom has been working on LTE since the technology has been available from the telecom industry. This pilot will be [& > read more

Location based services market to reach $43.3b

08/16/2014 19:24:07 PM

Hampshire, UK: The Mobile Context and Location Services market will reach $43.3 billion in revenue by 2019, rising from an estimated $12.2 billion in 2014, according to a new report from Juniper Research forecasts. The report highlighted that over tw > read more

GCC debt capital market on the rebound

08/16/2014 19:20:02 PM

The GCC debt capital markets in 2014 had an active second quarter, particularly in corporate bonds and sukuk, with large size deals that received a positive response from investors which was demonstrated by the tight yields achieved, according to PwC > read more

European IPO market fetches $32.7b in H1

08/16/2014 19:16:40 PM

The European IPO market is enjoying buoyant conditions driven by rising market confidence and demand for new shares as investors seem relieved that the Eurozone crisis has dwindled. “Both in terms of number of transactions and money raised Euro > read more

GCC IPO market up 381% to $1.8b in H1

08/16/2014 19:12:47 PM

Dubai: The initial public offering (IPO) market in the Gulf Cooperation Council (GCC) in the second quarter (Q2) of 2014 witnessed a total of nine IPOs raising $1.855 billion, compared to a total of five IPOs raising $385 million in […] > read more

Seven terrorist attacks warnings to PAT Chief

08/16/2014 15:03:34 PM

Islamabad: The Chairman of Pakistan Awami Tehreek (PAT) Allama Tahirul Qadri told tens of thousands of his Inqalab Rally, the revolution rally, participants that the authorities have handed him over seven possible terrorist attacks warnings. PAT Chie > read more

S&P affirms AA/A-1+ ratings on Kuwait

08/16/2014 13:36:08 PM

Standard & Poor’s Ratings Services affirmed its AA/A-1+ long and short-term foreign and local currency sovereign credit ratings on Kuwait. The outlook is stable. “The ratings on Kuwait are supported by the sovereign’s high levels of > read more

Kuwait’s GDP surplus to reach 30%

08/16/2014 13:34:34 PM

Standard & Poor’s Ratings Services said that the general government budget has shown a surplus of at least 10% of GDP for the past decade. “We estimate that–including our estimate of the government’s income from vast investmen > read more

IS factor impacts region’s sovereign ratings

08/16/2014 13:32:17 PM

Standard & Poor’s Ratings Services said that the Middle East region’s ratings are constrained by the geopolitical tensions in the region as well as what S&P see as insufficient popular representation due to Kuwait’s electoral system > read more

Bahrain emerges as a hotspot for telecom business

08/16/2014 13:19:51 PM

Seef District: The Kingdom of Bahrain’s telecom sector has emerged as one of the vital pillars of the economy. The Telecommunications Regulatory Authority Bahrain (TRA) has published its Annual Report for the year 2013. This annual report looks > read more

Middle East investors continue to invest in London

08/14/2014 10:08:23 AM

Savills and Deloitte Real Estate have been jointly instructed to sell The Gherkin at 30 St Mary Axe in the City of London following the appointment of Phil Bowers, Neville Kahn and Alex Adam of Deloitte LLP as the Joint […] > read more

ABC secures $750m 3-year term loan facility

08/14/2014 09:56:25 AM

MANAMA: Arab Banking Corporation (ABC) announced the successful closing of a US$750 million Syndicated Term Loan Facility. The Initial Mandated Lead Arrangers and Bookrunners are HSBC Bank Middle East Limited, National Bank of Abu Dhabi PJSC, Natixis > read more

GFH reports $10.6m net profit for H1

08/14/2014 09:54:31 AM

Manama: Bahrain-based Gulf Finance House (GFH) reported a net profit of US$10.6 million for the period compared with US$4.2 million for the prior year period. The bank’s consolidated profits rose by 152% in current period compared to the prior > read more

Bahrain’s economy navigates through challenges

08/12/2014 23:02:23 PM

MANAMA: The economy has successfully surmounted the challenging conditions surfaced in 2011, thanks to the robust fundamentals of the economy, according a leading banker. “Generally speaking, the economy in the past two years has successfully p > read more

ABG boasts 496 branches across 15 countries

08/12/2014 22:21:02 PM

MANAMA: Bahrain-based Al Baraka Banking Group (ABG) has opened 17 new branches in the first of 2014 and 54 branches in 2013. “The expansion reflects ABG’s determination to consolidate and expand our activities in the countries where we op > read more

Euro 1.7b shot in the arm of Alitalia

08/12/2014 22:07:41 PM

Etihad Airways and Alitalia announced that they have signed the transaction implementation agreement which will result in a €1,758 million investment to build a reinvigorated Alitalia as a competitive, sustainably profitable business. The recapital > read more

Abadi’s appointment as PM may spark shia-shia war

08/12/2014 21:46:39 PM

Former Prime Minister, Nouri al-Maliki, is likely to challenge Haidar al-Abadi’s appointment through the State of Law Coalition (SLC) and attempt to mobilise protests by his supporters in Baghdad, according to the analysis of Meda Al Rowas, Senior > read more

Batelco partners with Palo Alto Networks

08/12/2014 21:39:23 PM

Manama, Bahrain: Batelco, the Kingdom’s leading telecommunications company, is now a Silver Level partner with Palo Alto Networks, a global provider of next-generation enterprise security solutions. Palo Alto Networks technologies protect enterpris > read more

US, EU sanctions may bite Schlumberger’s business

08/12/2014 21:35:01 PM

PARIS: Schlumberger in a statement said that it would continue to monitor the post US-EU sanctions on Russia events closely to ensure that its activities and actions are in full compliance with applicable regulations. Both the United States and the [ > read more

Etihad starts cargo flights to Moscow

08/12/2014 21:24:36 PM

Abu Dhabi: Etihad Cargo, the freight business of United Arab Emirates (UAE) flag carrier Etihad Airways, will launch twice weekly freighter rotations linking Abu Dhabi (AUH) and Moscow Domodedovo (DME) airports on 13 August 2014. The dedicated cargo > read more

African Cos in Dubai witness growth of 171%

08/12/2014 21:20:20 PM

Dubai: African companies operating in Dubai have seen a percentage growth of 171% from the period from 2008 to mid-2014, according to Dubai Chamber of Commerce and Industry report. The UAE-Africa growing trade ties, challenges and opportunities will > read more

Markaz reports KD3.3m profits for H1

08/12/2014 21:09:14 PM

Kuwait: Kuwait Financial Centre (Markaz) reported a net profit, attributable to shareholders, of KD 3.03 million (EPS 6 Fils per share) for the first half ending 30th June 2014, as compared with a net profit of 3.59 million (EPS 7 […] > read more

CBB Sukuk Al-Ijara oversubscribes by 315%

08/12/2014 21:05:10 PM

Manama: The Central Bank of Bahrain (CBB) announced that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, has been oversubscribed by 315%. “Subscriptions for worth of BD63 million were received for the BD20 million iss > read more

Bapco makes Summer Camp interactive

08/10/2014 10:10:28 AM

MANAMA: The Bahrain Petroleum Company (Bapco) is holding a series of interactive presentations at various locations in the company like the Refinery, Bapco Club, and HRH Princess Sabeeka Park in Awali, as part of the company’s ongoing summer camp a > read more

Bentley Motors sales up 90% in Bahrain

08/10/2014 10:03:35 AM

DUBAI: With the Bentley Middle East dealers remained global leaders in sales, Bentley sales were up 90% in Bahrain during the first half of the year. Bentley Motors Middle East has announced its most successful half year ever with an […] > read more

Middle East banks need enhanced loan disclosures

08/10/2014 09:58:34 AM

MANAMA: The second part of a CFA Institute study titled ‘Financial Crisis Insights on Bank Performance Reporting’ revealed systematic differences in how banks disclose fair values of loans and write off bad or “impaired” debt in 16 co > read more

Ithmaar Bank CEO honours the Best Branch

08/10/2014 09:32:32 AM

MANAMA: Ithmaar Bank’s main branch won the coveted Best Branch Award for the first quarter of 2014. The Award was presented to the Main branch Manager, Sami Al-Hajri, by the Ithmaar Bank Chief Executive Officer, Ahmed Abdul Rahim, at a […] > read more

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