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Latest Company News Updates - By Industry |
| Company (NewsDate) |
News Title |
Banking |
Abu Dhabi Commercial Bank
UAE
(August 9, 2008)
|
The bank has plans stretching from the Gulf to southeast Asia.
Source: Gulf Base
|
Al Amanah Islamic Investment Bank
Philippines
(August 7, 2008)
|
Development Bank of the Philippines (DBP) has acquired the entire stake of the Government Service Insurance System (GSIS) in the bank, bringing to 90% its holdings in the countryÆs lone Islamic bank.
Source: Business World
|
Al Watany Bank Ltd
Egypt
(August 7, 2008)
|
The bank posted a record first half profit as loans surged.
Source: Reuters
|
AmBank (M) Berhad
Malaysia
(August 8, 2008)
|
The bank and Pos Malaysia Bhd announced a strategic tie-up to enable easy purchase of AmBank's popular NexG Prepaid MasterCard.
Source: Bernama
|
Arab Banking Corporation BSC
Bahrain
(August 5, 2008)
|
The bank posted a net profit of USD15.7m for the first half of the year, an increase of 72.8 per cent over the same period last year.
Source: Gulf Daily News
|
Arab Banking Corporation BSC
Bahrain
(August 4, 2008)
|
The bank suffered a USD71m loss in the second quarter this year as it was again hit by exposure to the subprime crisis.
Source: Gulf Daily News
|
Bank Islam Malaysia Berhadá
Malaysia
(August 8, 2008)
|
The bank launches its first Islamic structured investment product at 18th Flr, Darul Takaful, Jln Sultan Ismail, KL at 10am.
Source: The Edge Daily
|
Bank Muamalat Malaysia Berhad
Malaysia
(August 8, 2008)
|
The bank offers specially-designed home financing packages to buyers of PKNS properties.
Source: Bernama
|
Banque Saudi Fransi
Saudi Arabia
(August 9, 2008)
|
The bank has launched syndication of a USD300m loan through Calyon, Intesa Sanpaolo, RZB, SMBC and WestLB.
Source: AME Info
|
Boubyan Bank
Kuwait
(August 7, 2008)
|
The bank could appoint Former deputy governor of KuwaitÆs Central Bank, Mr. Nabeel Al-Mannae, as the Executive Chairman.
Source: Arab Times Online
|
Central Bank of Bahrain
Bahrain
(August 5, 2008)
|
The bank highlights it's role.
Source: Gulf Daily News
|
Central Bank of Egypt
Egypt
(August 9, 2008)
|
The bank raises interest rates for the fifth time this year to tame inflation running at over 20 per cent, increasing both deposit and lending rates by 50 basis points.
Source: Khaleej Times
|
Central Bank of Kuwait
Kuwait
(August 7, 2008)
|
The bank's former Deputy Governor, Mr. Nabeel Al-Mannae, could be appointed the Executive Chairman of local Islamic lender Boubyan Bank.
Source: Arab Times Online
|
Central Bank of Kuwait
Kuwait
(August 5, 2008)
|
The bank no longer allows local banks to buy US dollars from it and sell them to it for currency trades, bankers, a move that has blocked offshore banks from betting on the dinar.
Source: Gulf Daily News
|
Central Bank of UAE(The)
UAE
(August 9, 2008)
|
The bank released that mortgage loans up 55pc to Dh65b in March.
Source: Gulf Base
|
CIMB Bank Berhad (formerly as Bumiputra Commerce Bank Berhad)
Malaysia
(August 5, 2008)
|
The bank focuses more on new products to help deposit growth in New products to help deposit growth.
Source: The Star Online
|
Commercial International Bank
Egypt
(August 4, 2008)
|
The bank announced that a firm owned by Dubai's ruler had bought a 5.24 per cent stake in the bank, the emirate's second major investment in a year in Egypt's financial sector.
Source: Gulf Daily News
|
Development Bank of the Philippines
Philippines
(August 7, 2008)
|
The bank has acquired the entire stake of the Government Service Insurance System (GSIS) in Al- Amanah Islamic Investment Bank of the Philippines, bringing to 90% its holdings in the countryÆs lone Islamic bank.
Source: Business World
|
Dubai Islamic Bank
UAE
(August 5, 2008)
|
The bank is awarded Cedar Management Consulting for its support in effectively program managing the implementation of DIB's new core banking system, Flexcube from i-flex solutions.
Source: AME Info
|
Emirates NBD Bank
UAE
(August 4, 2008)
|
The company together with Hyatt Regency Galleria had recently launched an exciting new promotion offering Emirates NBD customers a free membership for one child or self at the Hyatt Regency Galleria Ice Rink.
Source: Company Website
|
EonCap Islamic Bank
Malaysia
(August 5, 2008)
|
The bank pairs up with MasterCard Worldwide to launch what it bills as the world's first Islamic debit MasterCard.
Source: Finance Asia
|
Fidelity Bank
Nigeria
(August 6, 2008)
|
The bank is working on strategies to start Islamic banking in its operations.
Source: All Africa
|
First Leasing Bank
Bahrain
(August 4, 2008)
|
The bank has signed a USD13.5m agreement to lease construction and transportation equipment to Konstruktor Engineering Qatar.
Source: Gulf Daily News
|
Gatehouse Bank
United Kingdom
(August 6, 2008)
|
The bank has strengthened its Capital Markets Origination and Structuring team by appointing Mr.Michael Clarke as a Director.
Source: Company Website
|
Gulf Bank
Kuwait
(August 7, 2008)
|
The bank has secured a central bank approval to buy back up to 10 percent of its stock.
Source: Arabian Business
|
HSBC Bank
United Kingdom
(August 6, 2008)
|
The bank sharpening its focus on Islamic lending in Turkey and across the Middle East.
Source: Guardian
|
HSBC Bank
United Kingdom
(August 5, 2008)
|
The bank met analysts' forecasts with a 28 per cent fall in its first-half profit, as a USD14b hit from bad debts on US home loans and asset writedowns offset strong Asian growth.
Source: Gulf Daily News
|
HSBC Holdings Plc
United Kingdom
(August 4, 2008)
|
The bank's profit slides 29% as bad debt charges top USD10b.
Source: Mena FN
|
HSBC Qatar
Qatar
(August 9, 2008)
|
The bank has hired Mr. Raj Sinha as Head of Equity Research.
Source: The Peninsula
|
ICB Islamic Bank Limited
Bangladesh
(August 8, 2008)
|
The bank is one of the 30 banks who have failed to keep their commitment to slash the lending rates by the June deadline, flouting both central bank and bank owners association's advice.
Source: The Daily Star
|
Islami Bank Bangladesh Ltd.
Bangladesh
(August 8, 2008)
|
The bank is one of the 30 banks who have failed to keep their commitment to slash the lending rates by the June deadline, flouting both central bank and bank owners association's advice.
Source: The Daily Star
|
Malayan Banking Bhd
Malaysia
(August 9, 2008)
|
The bank's share price fell for the second straight day, on concerns that its Bank Internasional Indonesia deal may actually be completed.
Source: Business Times Online
|
Malayan Banking Bhd
Malaysia
(August 8, 2008)
|
The bank has bought another 5 per cent of PakistanÆs MCB Bank for about USD213m, raising its stake in the South Asian nationÆs biggest lender to 20 per cent.
Source: Business Times Online
|
Malayan Banking Bhd
Malaysia
(August 5, 2008)
|
The bank could suffer total losses of up to RM3.5b if it is forced to sell down the 20% block in PT Bank Internasional Indonesia Tbk (BII) within two years.
Source: The Edge Daily
|
Marina West
Bahrain
(August 5, 2008)
|
The bank has signed an agreement with the Bahrain Society of Engineers (BSE) to be a platinum sponsor and exhibitor at a top property expo.
Source: Gulf Daily News
|
National Bank of Bahrain
Bahrain
(August 4, 2008)
|
The bank has promoted seven of its staff members to managerial positions.
Source: Gulf Daily News
|
National Bank of Commerce
Uganda
(August 5, 2008)
|
The Islamic Development Banking has teamed up with the bank and they are in the process of opening up the Islamic bank.
Source: The New Vision
|
National Commercial Bank
Saudi Arabia
(August 5, 2008)
|
The bank is affirmed at 'A+'/'F1' Stable outlook by Fitch .
Source: Alacra Store
|
Qatar Islamic Bank
Qatar
(August 6, 2008)
|
The bank and real estate company Barwa announced today a Murabaha ShariaÆ-compliant financing deal worth 1.1bn Qatari riyals.
Source: Gulf News
|
Saudi British Bank
Saudi Arabia
(August 4, 2008)
|
Fitch Ratings has affirmed bank's ratings at Long-term Issuer Default (IDR) 'A', Short-term IDR 'F1', Individual 'B' and Support '1'.
Source: AME Info
|
Saudi Hollandi Bank
Saudi Arabia
(August 4, 2008)
|
The bank announced the signing of a USD195m fully Islamic financing for Arabian Amines Company, the new joint venture between Al-Zamil Group and the global petrochemicals manufacturer Huntsman Corporation.
Source: Company Website
|
Shamil Bank of Bahrain
Bahrain
(August 5, 2008)
|
The bank has announced a corporate restructuring in line with its long-term strategic objectives.
Source: Gulf Daily News
|
Shamil Bank of Bahrain
Bahrain
(August 4, 2008)
|
The bank has appointed Mr. Ahmed A. Rahim as Deputy Chief Executive.
Source: AME Info
|
Standard Chartered Bank
UAE
(August 4, 2008)
|
The bank has been named the Best Project Finance House from Euromoney Islamic Finance Award 2008.
Source: Khaleej Times
|
Business Services |
Association of Islamic Banking Institutions Malaysia
Malaysia
(August 7, 2008)
|
EÆtemad Islamic Finance the first advisory aimed at the globalization of Sharia compliant finance and banking, has been launched in the Dubai International Finance Centre, UAE.
Source: Company Website
|
CIMA Sri Lanka
Sri Lanka
(August 5, 2008)
|
The company now offers a certificate course in Islamic Finance.
Source: Daily Mirror
|
Fitch Ratings
United States
(August 9, 2008)
|
The company affirms BankDhofar at 'BBB+'/'F2', outlook stable.
Source: Gulf In The Media
|
Praesidium LLP
UAE
(August 5, 2008)
|
Praesidium PTE, a subsidiary of the company has been appointed as the first SII Accredited Training Provider offering the Islamic Finance Qualification (IFQ) in Singapore.
Source: Mondo Visione
|
PricewaterhouseCoopers International Limited
United Kingdom
(August 5, 2008)
|
The company won the Best Takaful Advisory Firm category at the recent 2008 International Takaful Awards, which celebrated the Islamic insurance sector.
Source: UK Trade & Investment
|
Securities & Investment Institute
United Kingdom
(August 5, 2008)
|
The company and And Praesidium announces Islamic Finance Qualification (IFQ) - First Regional Launch in Singapore.
Source: Mondo Visione
|
Diversified Financial Services |
Abu Dhabi National Energy Company (Taqa)
UAE
(August 8, 2008)
|
The comapny's second quarter profit more than doubled, boosted by foreign acquisitions and high oil prices.
Source: Al Watan
|
Amlak Finance
UAE
(August 5, 2008)
|
The company partners with RERA to launch the regionÆs first Escrow Awareness Campaign.
Source: Company Website
|
Axis Real Estate Investment Trust (Axis REIT)
Malaysia
(August 6, 2008)
|
The company plans to acquire some RM500m worth of properties to boost its portfolio to over RM1b by next year.
Source: The Edge Daily
|
Axis REIT Managers Bhd
Malaysia
(August 5, 2008)
|
The company is looking to buy properties worth about RM566m.
Source: Bernama
|
Bahrain National Holding Company
Bahrain
(August 4, 2008)
|
The company's subsidiary,Bahrain National Life Assurance (BNL), has signed an exclusive partnership agreement with Assicurazioni Generali for the development of Generali employee benefits (GEB) in Bahrain.
Source: Gulf Daily News
|
Credit Suisse
Switzerland
(August 8, 2008)
|
The company is sued by Europe's largest computer chip maker, STMicroelectronics NV, for allegedly placing USD450m of its cash into auction-rate securities without authorization.
Source: Reuters
|
Dow Jones Indexes
United States
(August 4, 2008)
|
The company will launch 'The Global Dow', an index whose components are selected by the editors of The Wall Street Journal.
Source: Mena FN
|
Dubai Capital Group
UAE
(August 5, 2008)
|
The company eyes bank stakes in Egypt's Commercial International Bank.
Source: Gulf Daily News
|
Dubai Financial Market
UAE
(August 9, 2008)
|
The company announced that the value of shares bought by foreign investors, or non-UAE nationals, during last week reached AED1.917b comprising 37.49 per cent of the total value of stocks traded during the period.
Source: Gulf In The Media
|
Dubai International Financial Centre Authority(DIFC)
UAE
(August 4, 2008)
|
The company clarified its position on news reports that have recently appeared regarding 'Rashed Investment Bank' an Islamic investment bank proposed to be set up in Dubai.
Source: Company Website
|
Dubai International Financial Exchange Ltd (DIFX)
UAE
(August 5, 2008)
|
The company is planning reforms to boost liquidity in a move that could edge it closer to a merger with rival bourse the Dubai Financial Market (DFM).
Source: Gulf Daily News
|
Emaar Financial Services
UAE
(August 5, 2008)
|
The company plans financial services unit in Saudi Arabia as part of a regional expansion plan.
Source: Gulf Daily News
|
ETF Securities Limited
United Kingdom
(August 5, 2008)
|
The physically backed precious metals exchange traded commodities (ETCs) platform of the company has been found to be Shariah compliant.
Source: Hedge Funds Review
|
Etisalat
UAE
(August 9, 2008)
|
The company gauges customer satisfaction with training through a survey.
Source: Gulf Base
|
Global Investment House
Kuwait
(August 9, 2008)
|
The company is assigned with BBB, Outlook stable by Fitch Ratings.
Source: Gulf Base
|
Global Investment House
Kuwait
(August 5, 2008)
|
The company announced that its Global Islamic Fund of Funds was ranked number one in July 2008 by Zawya.
Source: Global Investment House
|
Investcorp
United States
(August 7, 2008)
|
The company acquires approximately USD210m of debt from major investment and commercial banks.
Source: CPI Financial
|
Investment Dar (The)
Kuwait
(August 5, 2008)
|
The company expects a profit rise in 2008 despite a slight second-quarter decline as the Islamic bank expands by setting up units in London and Dubai.
Source: Reuters
|
Jordan Investment Trust PLC
Jordan
(August 3, 2008)
|
The company announced its mid-year financial results, revealing that its net profit in the first half of 2008 have reached JD3m.
Source: Mena FN
|
Kuwait Investment Authority
Kuwait
(August 4, 2008)
|
The company plans to as much as triple investments in Japan to USD48b.
Source: Gulf Daily News
|
Masraf Al Rayan
Qatar
(August 4, 2008)
|
The company is planning to set up a representative office in the Libyan capital Tripoli before December as part of its expansion strategy.
Source: Gulf Times
|
MasterCard Worldwide
United States
(August 5, 2008)
|
The company and EonCap Islamic Bank have jointly launched what they are billing as the world's first Islamic debit MasterCard, the EonCap Islamic Debit MasterCard.
Source: Finance Asia
|
Mobile Telecommunications Co.
Kuwait
(August 7, 2008)
|
The company unveiled in Africa.
Source: Gulf Base
|
Ras Laffan Industrial City
Qatar
(August 5, 2008)
|
The company announces financial close.
Source: Meed
|
Tamweel Co
UAE
(August 9, 2008)
|
A delegation from the company visited Project of Al Hanoo Group in Sharjah and signed an agreement with Al Hanoo Holding.
Source: Gulf Base
|
Tamweel Co
UAE
(August 5, 2008)
|
The company announced the commencement of its Egypt operations during a special ceremony held in Cairo.
Source: iStock Analyst
|
The Securities and Exchange Board of India (Sebi)
India
(August 8, 2008)
|
The company is likely to clear the long pending application of Taurus Parsoli Ethical Fund to launch a Shariah fund by the end of this month.
Source: Business Standard
|
Insurance |
Hannover Re
Germany
(August 7, 2008)
|
Capital market and exchange rate movements dampen the company's profitability for the first half of 2008.
Source: Yahoo.Finance
|
Saudi Reinsurance Company (Saudi Re)
Saudi Arabia
(August 7, 2008)
|
The company, with capital of USD266.7m, will write traditional reinsurance and provide Sharia-compliant products for clients in the region.
Source: Business Insurance
|
Takaful House
UAE
(August 4, 2008)
|
The company debuts on Dubai Financial Market.
Source: Zawya
|
Mining/Petroleum |
Maaden
Saudi Arabia
(August 6, 2008)
|
The company is close to reaching a deal with Sahara Petrochemical Co to set up a caustic soda joint venture in the kingdom.
Source: Saudi Gazette
|
Maaden
Saudi Arabia
(August 4, 2008)
|
The company will borrow around USD8b in the third quarter of 2009 to finance an aluminium plant.
Source: Mineweb
|
Real Estate |
Al Mazaya Holding
Kuwait
(August 4, 2008)
|
The company's subsidiary, Al Mazaya Qatar, , announced its plans to issue 50 million shares in an initial public offering (IPO) at QR10 per share in the last quarter of the current year.
Source: Mena FN
|
Barwa Real Estate
Qatar
(August 6, 2008)
|
The companyand Qatar Islamic Bank (QIB) announced a Murabaha Sharia'-compliant financing deal worth 1.1 billion Qatari riyals.
Source: Gulf News
|
Landmark Hotel Group
UAE
(August 5, 2008)
|
The company will launch ten Shariah-compliant hotel and serviced apartment projects in the UAE and KSA by the end of 2010.
Source: Arabian Business
|
Telecom |
Bahrain Telecommunications Company (Batelco)
Bahrain
(August 3, 2008)
|
The company announced the launch of Cisco Unified Communication, a unified communications solution designed for small to medium enterprises (SMEs).
Source: Gulf Daily News
|
Oman Telecommunications (Omantel)
Oman
(August 5, 2008)
|
The company posted net profit of USD194.5m in the six months ended June 30, up 54.3pc from the year-earlier period.
Source: Gulf Daily News
|
