Piramal invests Rs150 crore in Smaaash Entertainment
Piramal Enterprises Ltd’s structured investment group unit has agreed to invest Rs.150 crore in Smaaash Entertainment Pvt. Ltd, a sports-based…
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Bahrain's GFH says may buy control of Bank Al Khair
Bahrain-based Islamic investment bank GFH Financial Group has signed a memorandum of understanding to buy a majority stake in Bank…
DIFC Establishes Wealth Management Working Group
The Governor of the DIFC, HE Essa Kazim, has established a DIFC Wealth Management Working Group to discuss and compile…
A UAE merger play that can set precedents
In July, the boards of First Gulf Bank and the National Bank of Abu Dhabi approved the merger of FGB…
Saudi Envoy’s Lost Millions Show Shell Company Risk, Judge Says
A lawsuit over the estate of a deceased Saudi diplomat shows the risks of wealthy people using shell companies and…
Opportunities for insurance distribution innovation in Gulf increasing, says expert
FOCUS: Opportunities for innovative models of insurance distribution in the Gulf region have been quite limited to date - but…
Nakheel Repays $1.2 Billion Bond, Ending Dubai Debt Saga
Nakheel PJSC, the developer of Dubai’s palm-shaped islands, has repaid an Islamic bond, bringing an end to a debt restructuring…
Trade Bank of Iraq wins JPMorgan award for efficient electronic payments
The ‘JPMorgan Quality Recognition Award’ is divided into two groups, each designated by a SWIFT message type and features two…
Al Hilal Bank’s new CIO looks to collaborate with fintechs
UAE-based Al Hilal Bank has got a new CIO, Gopi Krishnan. He is calling on fintech CEOs to get in…
Saudi Arabia is ‘1st foreign venue’ for Made in Qatar
Saudi Arabia has been chosen the first foreign venue for the ‘Made in Qatar’ exhibition due to its “very close…
UAE banks' deposits surge in July
The Central Bank announced that the Money Supply aggregate M1 decreased by 2.3 per cent month-on-month to Dh469.8 billion at…
Iran hints at ending rial’s dual exchange rate system
Iran’s central bank is signaling that it will loosen its grip on the rial in an effort to end a…