ALAFCO earns KD 22.3 million net profit for the first 9 months
(Al Watan
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29/07/2012)
ALAFCO announced a net profit of KD 22.3 million for the first nine months of its current fiscal year that ended June 30, 2012. The profit per share was 28.5 Kuwaiti fils. Company Chairman and CEO, Ahmad A. Alzabin, said that the results were in line
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Investcorp mulls sale of German insulation firm
(Reuters
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27/07/2012)
Investcorp, a Bahrain-based investment firm, is considering the sale of Armacell, a leading maker of insulation materials, aiming to capitalise on growing investor interest in energy-efficient products, people familiar with the situation said. A sale of
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Tamweel gets ‘AAsf’, outlook stable: Fitch
(Khaleej Times
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26/07/2012)
Tamweel on Wednesday announced that the ratings of the asset-backed securities of its landmark 2007 securitisation (Tamweel Residential ABS CI (1) Ltd) have been upgraded by Fitch Ratings, reflecting the substantial level of credit enhancement available
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Sico gets approval for UAE operations
(Trade Arabia
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23/07/2012)
Bahrain-based investment bank Securities & Investment Company (Sico) has received final approval from the Emirates Securities & Commodities Authority (ESCA) for its new UAE brokerage firm to commence operations. Located in Abu Dhabi, Securities &
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Commercial Facilities Company announces Ramadan timings
(AME Info
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18/07/2012)
Commercial Facilities Company (CFC) announced its new working hours during Ramadan. The CFC branches will open from 10:00 am to 3.30 pm, Sundays to Thursdays. CFC is all ready to receive clients' requests, facilitate their transactions and installments
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Investcorp buys 30% of Turkish Orka Group
(AME Info
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17/07/2012)
Investcorp's Gulf Opportunity Fund, the private equity fund of Investcorp for the MENA region including Turkey, and Orka Group, one of Turkey's leading and fastest growing menswear retailers, announced that they have signed a definitive agreement whereby
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GFH reaches Wakala facility debt restructuring accord
(Al Watan
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17/07/2012)
Gulf Finance House BSC (GFH), the Bahrain-based Islamic Investment Bank, announced today that it has successfully restructured the remaining debt on a syndicated Wakala facility amounting 100 million US dollars led by Bahrain-based Liquidity Management
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Finance House profit up in H1 as lending, deposits rise
(Khaleej Times
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17/07/2012)
Abu Dhabi’s Finance House earning in the first six months ended June 30 rose marginally to Dh51.1 million on double-digit growth in lending and deposits. The net profit grew six per cent to Dh51.2 million in the January-June period up against Dh48
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Gulf Finance House restructures $45m debt
(Reuters
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16/07/2012)
Bahrain-based Islamic investment bank Gulf Finance House (GFH) said on Monday it has restructured $45 million in debt which it will pay back over the next six years. The cash is part of a $100 million wakala-structured facility, compliant with Islamic
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Waha Capital invests positively in future of young Emirati leaders
(AME Info
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16/07/2012)
The 'Shababna wa Shebna' summer youth leadership camp, organised by Altaaat Leadership Development, concluded its activities last week. The camp was attended by a group of 12 young potential Emirati youth leaders and took place for five days on Sir Bani
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Global completes the exit of Al Rayan Holding Company
(AME Info
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14/07/2012)
The Private Equity asset management team at Global Investment House announced that it has completed the exit of two of its managed funds, the Private Equity Fund and Global Opportunistic Fund I, along with co-invested clients from Al Rayan Holding
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ALAFCO pledges to buy 20 B737 MAXs
(Saudi Gazette
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14/07/2012)
ALAFCO’s Chairman and CEO Ahmad Alzabin (right), and Ray Conner, president and CEO of Boeing Commercial Airplanes make the announcement at the 2012 Farnborough Airshow. BOEING and Kuwait airplane leasing company ALAFCO entered into a commitment at the
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Home loan price war takes toll on Tamweel
(The National
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12/07/2012)
A price war over home loans sapped second-quarter profits at Tamweel, as its mortgage book generated less income and fewer property deals materialised. The Dubai-based provider of Sharia-compliant mortgage loans reported net profit of Dh18.5 million
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Tamweel profits fall on declining revenues, costs
(Khaleej Times
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12/07/2012)
Islamic home finance provider Tamweel on Wednesday declared a 33 per cent drop in its second quarter profit on declining revenues and rising costs. Tamweel’s net profit fell to Dh18.6 million in the second quarter, compared to Dh27.7million in the same
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Boeing, ALAFCO announce commitment for 20 Boeing 737 MAXs
(AME Info
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11/07/2012)
Boeing and Kuwait airplane leasing company ALAFCO today announced a commitment at the 2012 Farnborough Airshow for 20 Boeing 737 MAX 8s valued at $1.9bn at current list prices. Boeing looks forward to finalizing the agreement, at which time the order
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ABG announces 33rd Symposium for the Islamic Economy
(CPI Financial
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10/07/2012)
Al Baraka will hold the symposium in Jeddah on 25-26 July (6-7 Ramadan 1433H) under the chairmanship of Sheikh Saleh Abdullah Kamel, Chairman of Al Baraka Banking Group. Among the topics under focus in this year’s symposium: Managing of fluctuations in
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Kuwait's Alafco to buy $1.9bn Boeing planes
(Trade Arabia
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10/07/2012)
Kuwait airplane leasing company Alafco has reached a deal with Boeing for the purchase of 20 737 MAX 8s valued at $1.9 billion at current list prices, said its top official at the ongoing Farnborough Airshow in UK. Confirming the deal, Alafco's chairman
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DFM foreign investment hits Dh32.2m
(Khaleej Times
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07/07/2012)
Net foreign investment on the Dubai Financial Market, or DFM, over the last week reached Dh32.2 million as aggregate buy. A DFM Press release said the value of shares bought by foreign investors, or non-UAE nationals, during the July 1-5 week stood at
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Tamweel postpones $235m sukuk sale
(Reuters
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04/07/2012)
Islamic mortgage lender Tamweel has decided to delay the sale of a $235 million sharia-compliant asset-backed securitisation after taking feedback from the market, the company said in on Wednesday. Investors and traders in the Gulf region said the deal
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Alijarah Holding Net Profit Up 10% to QR106.7 Million
(QNA
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04/07/2012)
Alijarah Holding has reported a net profit of QR 106.7 Million for the first half of 2012, an increase by 10% over QR 96.6 Million for the same period last year. The Earning Per Share (EPS) was marginally down to QR 2.61 as of June 30, 2012 compared to
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Markaz repays $100m upon maturity date
(AME Info
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04/07/2012)
Kuwait Financial Centre "Markaz" announced that it has repaid all of its $100m bonds issued in July 2007 on the specified maturity date which is today July 5th, 2012. Markaz issued these five-year bonds in 2007 with a Floating Rate Notes of 110 basis
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SHUAA Partners Fund posts 7.6% IRR returns
(Saudi Gazette
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04/07/2012)
SHUAA Capital, the leading regional financial services company, announced Monday that it has successfully closed its SHUAA Partners Fund 1, yielding significant returns despite the tough market conditions. During the Fund’s vintage period, from 2005 to
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GGICO signs debt restructuring deal
(Reuters
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03/07/2012)
Dubai-based Gulf General Investments Company (GGICO) reached a restructuring deal with 25 of its creditors to extend debt maturities, the company said on Tuesday, bringing an 18-month process to a conclusion. The firm, which has investments in
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SHUAA Partners Fund returns 7.6% IRR over its vintage period
(AME Info
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02/07/2012)
SHUAA Capital, the leading regional financial services company, announced that it has successfully closed its SHUAA Partners Fund 1, yielding significant returns despite the tough market conditions. During the Fund's vintage period, from 2005 to 2012,
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DFM launches summer training program for 18 UAE students
(AME Info
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02/07/2012)
Dubai Financial Market (DFM) today launched its Summer Training Program 2012, which offers 18 UAE school and university students practical training throughout the month of July for 6 hours per day from 8:00 am to 2:00 pm. Initiated in 2004, the DFM
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