Global offers equity in new $1.73bn restructuring
(Gulf Times
-
29/02/2012)
Kuwait’s Global Investment House is proposing to hand its bank creditors greater control over the company and its assets as it seeks to renegotiate repayment of $1.73bn of debt for the second time in three years. The company is proposing a form of
|
SICO registers operating income of $12.3 million
(Gulf Daily News
-
29/02/2012)
Bahrain-based regional investment bank, Securities & Investment Company (SICO), earned an operating income of BD4.63 million ($12.28m) last year compared to BD7.85m in 2010. Net profit declined to BD488,000 from BD3.785m and basic earnings per share fell
|
UGB Boosts Balance Sheet
(Gulf Daily News
-
29/02/2012)
United Gulf Bank (UGB), the investment banking and asset management subsidiary of Kipco Group, managed to strengthen its balance sheet last year despite testing times for the sector. The bank retained a strong balance sheet with total equity of $603.2
|
Bank Bounces Back
(Gulf Daily News
-
29/02/2012)
Ithmaar Bank managed to cut its net loss last year to $61.9 million compared with $140m for 2010. The 2011 results include a consolidated fourth-quarter loss of $68.6m compared with a loss of $153.4m for the same period last year. "I am pleased to report
|
SICO’s profits fall sharply
(CPI Financial
-
28/02/2012)
Bahrain-based regional investment bank, Securities & Investment Company (SICO) has seen its net profits fall to BHD 488,000 from BHD 3.785 million in 2010. Basic earnings per share fell to 1.145 fils versus 8.9 fils in 2010. The operating income was BHD
|
Investcorp plans US property investments
(The National
-
27/02/2012)
Investcorp, a Bahraini investment company, plans to spend up to US$250 million (Dh917.9m) in the US property market this year. The asset management firm said improving economic conditions in the US and limited growth in supply were creating attractive
|
DFM posts Dh8m profit In 2011
(Khaleej Times
-
27/02/2012)
The Dubai Financial Market, or DFM, on Sunday said it recorded a net profit of Dh8 million for the year 2011 compared to a net profit of Dh89.9 million in 2010. In a statement, the bourse operator said the DFM Group, which also includes its subsidiary
|
KIPCO posts KD 30 mln profit for 2011
(Arab Times
-
25/02/2012)
KIPCO - the Kuwait Projects Company - has announced a net profit of KD 30 million ($107.7 million) for the year ended Dec 31, 2011, - its twentieth consecutive year of profitability and tenth consecutive year of paying shareholder dividends. KIPCO’s
|
ABG net income surges 10 per cent to $212m
(Gulf Daily News
-
24/02/2012)
Al Baraka Banking Group (ABG) managed to weather the storm of both international and regional turmoil to move ahead last year. And the Bahrain-based Islamic bank is now looking to expand its operations into Indonesia, China and India as part of its
|
KAMCO continues to invest in its employees
(Al Watan
-
23/02/2012)
Kuwait Projects Company (KIPCO) Asset Management Company (KAMCO), in cooperation with Forte Business Consult (and sponsored by the Kuwait Foundation for the Advancement of Sciences), have provided a four-day in house training course with the
|
The Investment Dar responds to delisting its shares in KSE
(Al Watan
-
19/02/2012)
The Investment Dar Co K.S.C.C. (TID) issued a statement on Saturday, in which it expressed its astonishment at the announcement of the Capital Markets Authority's (CMA) decision to delist the company's shares in the Kuwait Stock Exchange (KSE). The
|
Commercial Facilities Company offers valuable services for SMEs
(Al Watan
-
17/02/2012)
In a testament to its commitment to entrepreneurs, Commercial Facilities Company (CFC) continues to offer a range of commercial services to Entrepreneurs across Kuwait. These services come at competitive interest rates with quick procedures and easy
|
ALAFCO orders 35 more A320neo jets
(AFP
-
15/02/2012)
A Kuwait-based leasing firm has ordered 35 more Airbus A320neo planes for $3.4 billion based on catalogue prices, the European aircraft maker said yesterday. The purchase will be in addition to 50 A320neo aircraft ordered by the Aviation Lease and
|
Jobs at risk again at Dubai's Shuaa Capital after latest losses
(The National
-
14/02/2012)
Shuaa Capital reported its fourth consecutive year of losses and announced a further round of layoffs as its withdrew from retail brokerage operations around the Middle East. The Dubai-based investment bank's loss for the full year was Dh293.8m, widening
|
Al Omaniya board proposes 25% dividend
(Times of Oman
-
14/02/2012)
The board of Al Omaniya Financial Services yesterday recommended a dividend of 25 per cent – 20 per cent cash and five per cent stock dividend - for 2011. The dividend proposal is subject to the approval of the Central Bank of Oman and shareholders, said
|
Investcorp takings fall 90%
(The National
-
14/02/2012)
Falling hedge-und revenue triggered a 90 per cent decline in half-year profit at Investcorp Bank, a buyout company based in Bahrain that manages more than US$11 billion (Dh40.4bn). Net income reached $5.3 million in the second half of last year compared
|
Shuaa earnings hit by unit restructuring
(Khaleej Times
-
14/02/2012)
Investment bank Shuaa Capital on Monday declared a net loss of Dh294 million for 2011 mainly because of a restructuring in its brokerage business. The majority of the loss, Dh129.9 million, is directly attributable to brokerage that includes one-off
|
SHUAA Capital reports 2011 year - end results
(Press Release
-
13/02/2012)
SHUAA Capital today reported results for the fourth quarter and year ended 2011. Revenues in the fourth quarter 2011 were AED 20.1 million (FY 2010: AED 42.8 million) and the Company reported a net loss of AED 111.8 million (FY 2010: net loss AED 186.7 m
|
Jobs at risk again at Dubai's Shuaa Capital after latest losses
(The National
-
13/02/2012)
Shuaa Capital reported its fourth consecutive year of losses and announced a further round of layoffs as its withdrew from retail brokerage operations around the Middle East. The Dubai-based investment bank's loss for the full year was Dh293.8m, widening
|
Al Omaniya Financial 2011 net jumps 16.94pc
(Oman Daily Observer
-
13/02/2012)
Al Omaniya Financial Services, the Sultanate’s largest non-banking financial company (NBFC), declared its audited results for the year 2011 showing a Net Profit of RO 4.831 million for the year ended December 31, 2011, an increase of 16.94 per cent over
|
$50 million profit drop for Bahrain's Investcorp
(The National
-
13/02/2012)
Investcorp, an alternative investment manager based in Bahrain, said profit for the six months ended December slumped to $5.3 million, compared with $56.2 million in the year earlier because of "negative returns from hedge funds." "Asset-based income
|
ALAFCO earned net profit of KD15m for the first quarter
(AME Info
-
12/02/2012)
The Chairman & CEO, Ahmad A. Alzabin announced that ALAFCO has achieved a net profit of KD15m and earnings per share of Fils 19 for the first quarter ended December 31, 2011. He said that the net profit includes exceptional gains realized through the
|
Ithmaar opens new branch
(Gulf Daily News
-
10/02/2012)
Ithmaar Bank yesterday officially opened its Busaiteen branch in its fast growing retail banking network. The ceremony marks the fifth branch to be inaugurated since last March, when Ithmaar pledged to demonstrate its commitment to becoming the Islamic
|
Waha eyeing maritime push
(Gulf Daily News
-
09/02/2012)
Abu Dhabi's Waha Capital is considering to invest in the regional maritime and oil and gas sectors, as it aims to rely on its strong financing to double its assets over five years. "By 2017 we should double our assets," chief executive Salem Rashid Al
|
Waha plans oil and gas sector move
(The National
-
02/02/2012)
Waha Capital plans to switch focus to the oil and gas services sector after fourth-quarter profits fell by almost half. Abu Dhabi's Waha, which is best known for its aircraft leasing business, is aiming to acquire further assets in the hydrocarbons
|