Al Omaniya gets board approval for bond sale
(Times of Oman
-
30/09/2009)
The board of directors of Al Omaniya Financial Services has approved a proposal to raise up to RO20 million bond issue through private placement subject to the approvals from the regulatory authorities. The bond would be raised through a book building
|
Al Baraka unit is planning to boost capital
(Gulf Daily News
-
29/09/2009)
Banque Al Baraka DAlgerie plans to increase its capital from $105m to $140m. The subsidiary banking unit of Bahrain-based Al Baraka Banking Group has already received approval for the move from shareholders and the Central Bank of Algeria. The bank
|
Moody's downgrades Investcorp Bahrain to Ba2/NP/D; outlook negative
(AME Info
-
29/09/2009)
Moodys Investors Service has today downgraded the long-term deposit ratings of Investcorp Bank B.S.C. (Investcorp) to Ba2 from Ba1 and its bank financial strength rating (BFSR) to D from D+. The ratings of its subsidiary, Investcorp S.A., were downgraded
|
Gulf Investment, Three Creditors Agree to Debt Rescheduling
(Bloomberg
-
29/09/2009)
Gulf Investment House, a Kuwait- based Islamic bank, has reached an agreement with three of its six creditors to reschedule debt. Gulf Investment has paid 4 million dinars ($13.9 million) out of 17.8 million dinars in debt, the bank said in a statement
|
Reprieve for Investment Dar
(Gulf Daily News
-
28/09/2009)
The Kuwaiti Islamic investment firm that owns half of British luxury car marker Aston Martin said yestreday it has agreed with its lenders to suspend their claims while it looks to restructure its debt. The Investment Dar is one of several Kuwaiti banks
|
Investment Dar Signs ‘Standstill Agreement’ With Investors
(Bloomberg
-
27/09/2009)
Investment Dar Co., the owner of half of carmaker Aston Martin Lagonda Ltd., entered into a “standstill agreement” with its banks and investors as part of its debt restructuring process. As part of the agreement the company will appoint a chief
|
Gulf Finance House CEO to consult with shareholders in Kuwait
(Al Watan
-
27/09/2009)
Ahmed Fahour, Chief Executive Officer (CEO) of leading Middle Eastern Islamic investment Bank Gulf Finance House (GFH) will travel to Kuwait on Wednesday Sept. 30 for an open meeting with shareholders in the Bank. The event, taking place in the Diamond
|
Aref Investment Group Soars to 3-Week High on Debt Agreement
(Bloomberg
-
27/09/2009)
Aref Investment Group, a Kuwaiti investment company, soared the most in almost three weeks after Kuwait Finance House agreed to reschedule its debts of 132 million dinars ($461 million). Aref shares climbed 5.8 percent to 182 fils at 9:13 a.m. in Kuwait
|
Fitch downgrades Taib Bank to 'BBB-' on weaker shareholder support
(AME Info
-
26/09/2009)
Fitch Ratings has downgraded Bahrain-based Taib Banks Long-term Issuer Default Rating (IDR) to BBB- from BBB. The Outlook is Negative. The banks other ratings have been affirmed at Short-term IDR F3, Individual C/D and Support 2. The downgrade reflects
|
GFH official sees 'exciting' opportunities in Gulf
(Kuwait Times
-
24/09/2009)
In order for the global financial infrastructure to come out of the current quagmire and to revive the confidence of the various stakeholders, there is a need for transparency and a manifold toolkit that involves all the participants. Reengaging with the
|
Investcorp sponsors 'Banks in Bahrain' reception
(AME Info
-
20/09/2009)
Investcorp, the asset management firm specializing in alternative investments, today announced its sponsorship of the Banks in Bahrain reception taking place on October 6-7, 2009 in Istanbul, Turkey in conjunction with the Annual Meetings of the
|
Al Baraka to sell 3.5m shares in Syrian IPO
(Reuters
-
19/09/2009)
Bahrain-based Islamic lender Al Baraka plans to sell 3.5 million shares in its Syrian unit for 1.75 billion Syrian pounds ($38 million), or 500 pounds per share, in its planned Initial Public Offer (IPO), it said on Thursday. The offer period for the IPO
|
GFH shareholders praised
(Gulf Daily News
-
13/09/2009)
Gulf Finance House (GFH) chairman Dr Esam Janahi has hailed a move by shareholders to back plans to recapitalise Bahrains leading investment bank. At an ordinary and extraordinary general meeting, shareholders of the the leading Middle Eastern Islamic
|
GFH to raise $300m in new capital
(Trade Arabia
-
12/09/2009)
Gulf Finance House (GFH) shareholders have approved the raising of a further $300 million in new capital, aimed at strengthening the Islamic banks balance sheet. They also agreed to the issuing of a second $100m convertible murabaha at a meeting at the
|
Gulf Finance House sees H2 operating breakeven: CEO
(Reuters
-
12/09/2009)
Bahrain-based Islamic lender Gulf Finance House, which has had three consecutive quarterly losses, will see earnings recover in the second half of the year, its chief executive said on Thursday. "The objective is, on a pre-provision base, to break even,
|
Ithmaar to sponsor stock prices screen
(Gulf Daily News
-
10/09/2009)
Ithmaar Bank is to sponsor an electronic display screen showing stock prices at the Bahrain Stock Exchanges (BSE) new trading floor at the Bahrain Financial Harbour. The agreement to sponsor the screen was signed by exchange chairman and Central Bank of
|
KAMCO, TNI plan $150m Islamic fund
(Reuters
-
08/09/2009)
Management Co (KAMCO) plan to set up a $150 million Islamic fund, in a sign that private equity activity in the Gulf region is picking up. The shariah-compliant fund is expected to be launched within three months and will make six to seven investments
|
Key Investment Dar debt monitor named
(Gulf Daily News
-
08/09/2009)
Kuwaits central bank appointed a temporary supervisor to monitor debt restructuring and compilation of financial results at Islamic firm Investment Dar, reports said yesterday. The decision to appoint a monitor was due to a request from a committee of
|
Shuaa board members are named
(Gulf Daily News
-
06/09/2009)
Dubai-based investment bank Shuaa Capital yesterday appointed two new board members. Incoming chief executive Sameer Al Ansari and non-executive director Martin Angle will replace Hussein Al Nouwais and Shaikha Hanadi bint Nasser bin Khaled Al Thani, who
|
DI picks Blue Coat for WAN optimisation
(Trade Arabia
-
03/09/2009)
Dubai Investments (DI), a leading investment company, has selected Blue Coat ProxySG appliances from Blue Coat Systems, the technology leader in application delivery networking, to achieve WAN optimisation, security and network cost reduction. DI will
|
United Gulf Bank ratings confirmed by Moody's
(Gulf Daily News
-
02/09/2009)
Moodys Investors Service yesterday confirmed the Baa3/Prime-3 deposit ratings, Ba1 subordinated debt rating and D+ bank financial strength rating (BFSR) of United Gulf Bank (UGB), with a negative outlook. This action concludes Moodys review of the banks
|
Hussain named Ithmaar Bank chief executive
(Gulf Daily News
-
01/09/2009)
Ithmaar Bank has appointed Mohamed Hussain as its new chief executive officer with effect from today. Mr Hussain was previously the banks co-chief executive officer and board member and he takes over from Michael P Lee, who is leaving to take up a new
|
Investment plan
(Gulf Daily News
-
01/09/2009)
Gulf Finance House (GFH) is planning to invest billions of dollars in infrastructure development projects as part of its strategy to diversify income resources and expand regional operations, said a report in our sister paper Akhbar Al Khaleej. The bank
|
Capital Intelligence affirms International Finance Company ratings
(AME Info
-
01/09/2009)
Capital Intelligence (CI), the international credit rating agency, announced that it has affirmed International Finance Companys (IFC) KD15m secured bond rating of BBB-. A Negative outlook is however assigned to reflect the challenging operating
|