JEDDAH/DUBAI: Middle East markets rebounded on Monday, with Egypt recouping most of its previous day’s losses, but volumes were thin as investors remained on the sidelines in the absence of significant
KUWAIT CITY: The Central Bank of Kuwait (CBK) on Monday cut its one-week and one-month repurchase rates by 25 basis points each in a bid to expand money supply, a day after reducing the benchmark discount
TOKYO/DETROIT: Japanese carmaker Toyota Motor Corp. said it was preparing a global recall of its new Prius model, risking a fresh dent to its battered reputation for quality and reliability. As
RIYADH: A US dollar-denominated, open-ended, Shariah-compliant fund was launched Monday in Riyadh by NCB Capital, the investment banking arm of National Commercial Bank (NCB), the largest commercial
JEDDAH: Jadwa Investment has won the “Best Saudi Equity Fund” award in Dubai, it was announced on Monday. The award was given to Jadwa for its Saudi Equity Fund performance in 2009 at a ceremony
RIYADH: The first meeting of the Gulf Central Bank will be held in March this year, said GCC Secretary General Abdul Rahman Al-Attiyah here on Monday. Al-Attiyah made the announcement during
MANAMA: Despite the recession, mergers and acquisition (M&A) activity in the high-tech sector worldwide made 365 deals worth $27.2 billion by September 2009, the highest total since December 2007,
JEDDAH: Fernvale Investments (Mauritius) Pte Ltd. is making a capital commitment of $75 million to Pan-African Investment Partners II Ltd. (the second Kingdom Zephyr fund, known as PAIP II). This was
NEW YORK: US and European stocks eked out gains on Monday, lifted by defensive shares, while the euro edged up from 8-1/2-month lows despite persistent worries about the fiscal health of highly indebted
DUBAI: The central bank of the United Arab Emirates forecast the country’s growth to be low in 2010 but better than the previous year, its governor told a media briefing on Monday, according to a source
PIF to pay 20% of firm’s capital JEDDAH: The Public Investment Fund (PIF) has issued its approval to contribute 20 percent of the new home finance company’s total capital of
