| Recent 100 Company News Items Updated May 14, 2008 #1 |
By - Country Company Industry News Type
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| Company (Industry) |
News Title |
Almana Group
Qatar
(Insurance)
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The group has sold USD163.4m of UAE dirham-denominated Islamic bonds to help finance realty projects in its home country.
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Commercial Bank of Kuwait
Kuwait
(Banking)
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The bank is expecting to increase its profit in the second quarter of the year 2008.
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Hong Kong Monetary Authority (The)
Hong Kong
(Diversified Financial Services)
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The group has announced that the Hong Kong and Dubai have formed two working groups as part of an ongoing process to make Hong Kong the centre for Islamic finance in the Asia-Pacific region.
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Kuwait Finance House
Kuwait
(Banking)
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The company has been mandated to arrange for Islamic financing facilities to TPL India Singapore Pte. Ltd. (TPLIS).
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Mawarid Finance
UAE
(Diversified Financial Services)
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The company has acquired 1% stake in Egypt Telecommunication Company.
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Shamil Bank of Bahrain
Bahrain
(Banking)
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The bank has launched a 150m euro (USD231m) Central and Eastern European Real Estate Fund offers rare opportunities of growth to investors.
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TPL India Singapore Pte Ltd
Singapoe
(Diversified Financial Services)
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The company has given a mandate to Kuwait Finance House to arrange an Islamic project financing in Singapore.
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ACR Retakaful Holdings
UAE
(Insurance)
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The company will focus on non-life, non-cyclical and speciality risks in the infrastructure and transportation sector.
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Doha Bank Ltd
Qatar
(Banking)
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The bank has donated for benevolent causes fines collected from high net worth customers for delayed payments.
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Dubai Group
UAE
(Diversified Financial Services)
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The group has launched ACR ReTakaful Holdings Limited, the worldÆs largest reinsurance company with a paid-up capital of DH1b (USD300m).
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Emirates NBD Bank
UAE
(Banking)
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The bank's Al Shaheen, the priority banking service has invited selection of its Al Shaheen customers to the Tashan Film Premiere in Dubai.
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Global Banking Corporation
Bahrain
(Banking)
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The bank has announced a partnersjip with the Taylor-DeJongh, a Washington based investment banking firm for the establishment of a subsidiary operation.
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Global Banking Corporation
Bahrain
(Banking)
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The bank has established a new subsidiary operation focusing exclusively on the fast-growing energy sector.
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Islamic Bank of Asia (The)
Singapore
(Banking)
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The bank is seeing an increase in investor interest for Islamic finance as the US sub-prime crisis continues.
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Jordan Investment Trust PLC
Jordan
(Diversified Financial Services)
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The company has announced the sponsorship of the 5th Islamic Financial Services Board Summit (IFSB).
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Khaleeji Commercial Bank
Bahrain
(Banking)
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The bank has announced the official opening of Oryx Hills villas and commencement of phase two development plans.
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Mawarid Finance
UAE
(Diversified Financial Services)
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The company has announced that the number of participants in Tamaiaz Award, launched by the company reached 300 students from across the United Arab Emirates and from various fields.
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Mubadala Development Company
UAE
(Diversified Financial Services)
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The company has announced the launch of a new multi-billion dirham real estate development master plan at Sowwah Island in Abu Dhabi.
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Mubadala Development Company
UAE
(Diversified Financial Services)
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The company will develop an offshore island into a new business district that would house the stock exchange.
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Saudi British Bank
Saudi Arabia
(Banking)
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The bank plans to increase lending to finance infrastructure projects in the Kingdom.
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Unicorn Investment Bank
Bahrain
(Banking)
|
Reported 83% increase in earnings to USD44m and net profit to USD20m for the first quarter of the year 2008.
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Al Tamimi Investments Ltd
UAE
(Diversified Financial Services)
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The company has signed an agreement with Tamweel for development of commercial projects in MotorCity.
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Dubai Islamic Bank
UAE
(Banking)
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The bank has launched the DIB Retail Banking Services Virtual Training Centre in Dubai.
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Tamweel Co
UAE
(Diversified Financial Service)
|
The company has signed a landmark agreement with Al Tamimi Investments, a Dubai-based diversified investment company that is developing commercial projects in MotorCity.
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Abu Dhabi Commercial Bank
UAE
(Banking)
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The bank is positioning to capture the global sukuk (Islamic bond) market.
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Abu Dhabi Commercial Bank
UAE
(Banking)
|
The bank has spend AED4.5b buying 25% of a Malaysian bank, RHB Capital.
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Dow Jones Indexes
United States
(Diversified Financial Services)
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The firm has launched the Dow Jones Islamic Market (DJIM) China Offshore Hong Kong Index.
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International Islamic Trade Finance Corporation
Saudi Arabia
(Diversified Financial Services)
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The company has signed USD129m agreement to finance three major deals in Morocco and Tunisia.
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Abu Dhabi Commercial Bank
UAE
(Banking)
|
The bank and The Employees Provident Fund have signed a sale and purchase agreement for the latter's acquisition of a 25% equity stake in RHB Capital Bhd from EPF for RM3.876b.
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Ahli United Bank
Bahrain
(Banking)
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Reported 37% in crease in the net profit to USD94.3m for the first quarter of the year 2008.
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Al-Hadharah Boustead REIT
Malaysia
(Real Estate)
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Reported net profit to RM16.7m for the first quarter ended March 31, 2008.
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Asian Finance Bank Bhd
Malaysia
(Banking)
|
The company is planning to set up an Islamic property fund of up to USD500m in 2009.
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Bahrain Islamic Bank
Bahrain
(Banking)
|
The bank in association with the Bahrain Financial Services Training Centre have organised a speical sessions on anti money laundering in its bid to enhance transparency and make collective efforts to prevent money laundering worldwide.
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Deyaar
UAE
(Real Estate)
|
The company had agreed to drop plans to develop a real estate project in India.
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Dubai Islamic Insurance and Reinsurance Company
UAE
(Insurance)
|
Reported 33.7% increase in net profit to DH6.05m for the first quarter of the year 2008.
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Emirates NBD Bank
UAE
(Banking)
|
The bank has been awarded the 'Deal of the Year Award' for the UAE and for the Middle East by The Banker Magazine in association with the Financial Times Group.
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Emirates NBD PJSC
UAE
(Diversified Financial Services)
|
The company has recently flew the winners of its Emirates NBDÆs Legends Rock Dubai Promotion on its own Hot Air Balloon.
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Employees Provident Fund(The)
Malaysia
(Business Services)
|
The company is looking to sell further 5% stake in RHB Capital Bhd to foreigners, including Japanese parties.
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Ernst & Young
United States
(Business Services)
|
The company has announced that the Islamic assets have been growing at over 20% a year and reached USD900b in 2007, and are expected to hit USD2tr by 2010.
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Gulf Investment Corporation
Kuwait
(Diversified Financial Services)
|
The company will be increasing its exposure to the GCC capital markets as they have become more mature and offer the best investment opportunities over the next five to seven years.
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Kipco Asset Management Company
Kuwait
(Diversified Financial Services)
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Reported 57.31% net profit to USD19.5m for the first quarter of the year 2008.
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Malayan Banking Bhd
Malaysia
(Banking)
|
The bank is exploring opportunities to expand its takaful business globally.
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Malayan Banking Bhd
Malaysia
(Banking)
|
The bank and Islamic Development Bank plan to start a global takaful or Islamic insurance business.
|
RHB Capital Berhad
Malaysia
(Diversified Financial Services)
|
The Employees Provident Fund (EPF) and Abu Dhabi Commercial Bank (ADCB) today signed a sale and purchase agreement for the latter's acquisition of a 25% equity stake in the company from EPF of RM3.876b.
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RHB Capital Berhad
Malaysia
(Diversified Financial Services)
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The Employees Provident Fund (EPF) is looking to sell a further 5% stake in the company.
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Shamil Bank of Bahrain
Bahrain
(Banking)
|
The bank has announced a GCC roadshow to promote a new 150m euros Sharia-compliant fund.
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Abaad Real Estate Company
Bahrain
(Real Estate)
|
The company has announced a new USD47m housing project which will feature 57 residential units.
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Amlak Finance
UAE
(Diversified Financial Services)
|
The company is in talks with First Dubai for Real Estate Development to acquire one of its buildings for about DH1.65b(USD449.3m).
|
Arcapita Bank
Bahrain
(Banking)
|
The company has announced that it and its affiliates have completed the acquisition of Pinnacle Real Estate (Pinnacle), a leading developer and operator of logistics warehouses in Central and Eastern Europe.
|
Asia Capital Reinsurance
Malaysia
(Insurance)
|
The company, Khazanah Nasional Berhad and Dubai Banking Group will team up to be the world's largest retakaful (Islamic reinsurance) firm.
|
Bahrain Chamber of Commerce and Industry(The)
Bahrain
(Business Services)
|
The company and its Qatari counterpart signed a Memorandum of Understanding to set up a joint Islamic insurance company in Bahrain.
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Bank Negara Indonesia
Indonesia
(Banking)
|
The bank will convert their conventional units to sharia-compliant banks.
|
Bank Negara Malaysia
Malaysia
(Banking)
|
The bank will sell 3b ringgit (USD952m) of three-month notes. The securities yielded 3.229% at the previous sale on April 30. The central bank will also sell 500m ringgit each of the three- and nine-month notes that comply with Islamic law.
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Bank Negara Malaysia
Malaysia
(Banking)
|
Employees Provident Fund(The) will seek the bank's approval to push the deadline to pare down its stake in RHB Capital to the year end.
|
Capivest Investment Bank
Bahrain
(Banking)
|
The company has formed a joint venture with Kaizen Automation Pvt, Ltd and the Central Railway in India through a public-private partnership for the launch of "Go Mumbai", a multi-purpose Smart Card for use by public transportation commuters.
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Cham Bank
Syria
(Banking)
|
Commercial Bank of Kuwait has offered to boost its stake in the bank by buying Investment Dar's shares.
|
Commercial Bank of Kuwait
Kuwait
(Banking)
|
The bank has offered to boost its stake in Syria's Cham Bank by buying Investment Dar's shares.
|
Deutsche Bank Group
Germany
(Banking)
|
The bank has announced that it will be convening a high-level conference for its institutional investors in the UAEÆs capital.
|
Dubai Banking Group
UAE
(Banking)
|
The bank, Khazanah Nasional Berhad and Asia Capital Reinsurance will team up to set up the world's largest retakaful (Islamic reinsurance) firm.
|
Emaar Middle East
Saudi Arabia
(Real Estate)
|
The company has rolled out the multi-billion dollar Al Khobar Lakes development with the launch of the first lakefront gated residential community in Saudi.
|
Emaar Properties PJSC
UAE
(Real Estate)
|
The company is planning to launch the sale of a premium collection of commercial units within Downtown Burj Dubai and Dubai Marina.
|
Emaar Properties PJSC
UAE
(Real Estate)
|
The company has done joint venture with Bali Tourism Development Corporation by opening its country office in Jakarta.
|
Employees Provident Fund(The)
Malaysia
(Business Services)
|
The company will seek Bank Negara approval to push the deadline to pare down its stake in RHB Capital to the year end.
|
Investment Dar (The)
Kuwait
(Diversified Financial Services)
|
Commercial Bank of Kuwait has offered to boost its stake in Syria's Cham Bank by buying the company's shares.
|
Islamic Development Bank
Saudi Arabia
(Banking)
|
The bank and Malayan Banking plan to start a global takaful or Islamic insurance business.
|
Khazanah Nasional Bhd.
Malaysia
(Diversified Financial Services)
|
The company will team with Dubai Banking Group and Asia Capital Reinsurance to set up the world's largest retakaful (Islamic reinsurance) firm.
|
MEED Magazine
UAE
(Media)
|
The company will celebrate a milestone in the sector with market value reaching USD50b.
|
Mirvac
Australia
(Real Estate)
|
Nakheel has ruled out plans for a full takeover of the company.
|
Morgan Stanley
United States
(Diversified Financial Services)
|
The company has sais that the demand for Islamic insurance (takaful) and Islamic re-insurance (retakaful) products would grow in the Middle East and North Africa (Mena) region as insurance penetration there increases.
|
Nakheel
UAE
(Real Estate)
|
The company is planning to tap the debt market again this year and is considering making acquisitions abroad.
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Nakheel
UAE
(Real Estate)
|
The company has ruled out plans for a full takeover of Australian developer Mirvac.
|
National Bank of Abu Dhabi
UAE
(Banking)
|
The bank has strengthened its core banking platform with the help of a new solution from Fujitsu Siemens Computer.
|
National Industries Group
Kuwait
(Diversified Financial Services)
|
The company is considering selling Islamic bonds, or sukuk, which could later be converted into shares or global depositary receipts (GDRs) by a future partner.
|
PT Bank Bukopin
Indonesia
(Banking)
|
The bank will convert their conventional units to sharia-compliant banks.
|
PT Bank Rakyat Indonesia
Indonesia
(Banking)
|
The bank will convert their conventional units to sharia-compliant banks.
|
RAK Capital
Cayman Island
(Diversified Financial Services)
|
Standard & Poor Ratings Services has assigned its 'A' preliminary credit rating to the up to USD2b certificates (sukuk al-ijara) issuance of the company.
|
Salama Islamic Arab Insurance Company
UAE
(Insurance)
|
Morgan Stanley has initiated coverage on the compant with price targets suggesting a potential upside of 32%.
|
Saudi Basic Industries Corp.
Saudi Arabia
(Chemicals)
|
The company gave price guidance for an Islamic bond sale to raise up to USD1.33b.
|
Sorouh Real Estate
UAE
(Real Estate)
|
The company has announced to exhibit an architectural model showing for the first time the masterplan for Lulu Island.
|
Tharwa Investment Company
Kuwait
(Diversified Financial Services)
|
The company has announced its financial achievements and upcoming expansion plans at the company's AGM.
|
Velcan Energy Holdings (Dubai) limited
UAE
(Diversified Financial Services)
|
The company, a 100% subsidiary of Velcan Energy SA for financing such infrastructure, through very important local financing capabilities (local capital markets, Islamic finance).
|
Al Inma Bank
Saudi Arabia
(Banking)
|
The bank has launched USD2.8b IPO.
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Al Wasatah Al Maliah
Saudi Arabia
(Diversified Financial Services)
|
The company has become the first non bank-backed financial investment services company in the Kingdom of Saudi Arabia to implement TEMENOS T24 (T24).
|
AT Kearney Middle East
UAE
(Business Services)
|
The company has reported that the number of Islamic banks in the United Kingdom have more than doubled over the past 12 months as they make their mark on the financial markets of non-Islamic countries.
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Bahrain Islamic Bank
Bahrain
(Banking)
|
The bank will Identify Next Growth Phase at the 4th Annual World Islamic Funds & Capital Markets Conference
|
BankMuscat International.
Oman
(Banking)
|
The bank will Identify Next Growth Phase at the 4th Annual World Islamic Funds & Capital Markets Conference
|
Central Bank of Bahrain
Bahrain
(Banking)
|
The bank will Identify Next Growth Phase at the 4th Annual World Islamic Funds & Capital Markets Conference.
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Citi Islamic Bank
Bahrain
(Banking)
|
Mr. Samad Sirohey has been appointed as Chief Executive Officer of the bank.
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Citigroup
United States
(Diversified Financial Services)
|
The group has appointed the former head of its Middle East debt capital markets group as chief executive of its business.
|
Dubai Bank
UAE
(Banking)
|
Dubai Holding has consolidated its investments in Dubai Islamic Investment Group and the Bank under Dubai Banking Group, to form a global ShariÆah-compliant investment company.
|
Dubai Holding
UAE
(Diversified Financial Services)
|
The company has consolidated its investments in Dubai Islamic Investment Group and Dubai Bank under Dubai Banking Group, to form a global ShariÆah-compliant investment company.
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Dubai Islamic Investment Group.
UAE
(Diversified Financial Services)
|
Dubai Holding has consolidated its investments in the company and Dubai Bank under Dubai Banking Group, to form a global ShariÆah-compliant investment company.
|
Eskan Bank
Bahrain
(Banking)
|
The bank will Identify Next Growth Phase at the 4th Annual World Islamic Funds & Capital Markets Conference
|
International Investment Bank
Bahrain
(Banking)
|
The bank will Identify Next Growth Phase at the 4th Annual World Islamic Funds & Capital Markets Conference
|
Khaleeji Commercial Bank
Bahrain
(Banking)
|
The bank will Identify Next Growth Phase at the 4th Annual World Islamic Funds & Capital Markets Conference
|
Masraf Al Rayan
Qatar
(Diversified Financial Services)
|
The company has selected Misys PLC's core banking and trade services solutions to build a true Islamic solution for its consumer and commercial customers.
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Misys PLC
United Kingdom
(Software)
|
The company has announced that its core banking and trade services solutions have been selected by Masraf Al Rayan to build a true Islamic solution for its consumer and commercial customers.
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National Bank of Abu Dhabi
UAE
(Banking)
|
The bank has doubled its technology budget from USD56m in 2007 to USD105m this year.
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Parsoli Corp.
India
(Diversified Financial Services)
|
Dow Jones Indexes has sent a legal notice to the company alleging breach of intellectual property rights (IPR), amongst other things.
|
Saudi Basic Industries Corp.
Saudi Arabia
(Chemicals)
|
Standard & Poor Rating Services has assigned its 'A+' local currency senior unsecured debt rating to the company's proposed Sukuk-III maturing 2028.
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Temenos Group AG
Switzerland
(Diversified Financial Services)
|
The company has signed with Al Wasatah Al Maliah of Saudi Arabia to implement TEMENOS T24 (T24).
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