Business Blog

Bahrain-based Islamic investment firm Arcapita has completed a $100 million fundraising from new and existing shareholders in the Gulf just over a year after it emerged from Chapter 11 bankruptcy.

(The following statement was released by the rating agency)SINGAPORE/HONG KONG, November 17 (Fitch) Fitch Ratings has affirmed Malaysia-based Etiqa Takaful Berhad&aposs (ETB) Insurer Financial Strength (IFS) rating at &aposA&apos with Stable Outlook.KEY RATING DRIVERSThe rating reflects ETB&aposs improvement in capitalisation, sustained operating profitability and dominant market position in Malay

Bahrain-based International Islamic Financial Market has launched a standard contract template for collateralised murabaha transactions.

Bahrain-based International Islamic Financial Market has launched a standard contract template for collateralised murabaha transactions.

Dubai construction firm Arabtec may come under pressure after missing third-quarter profit estimates, while its smaller competitor Drake and Scull beat analysts' forecasts.

DUBAI, Nov 16 (Reuters) - Dubai&aposs Drake & Scull DSI.DU (DSI) reported a 10 percent drop in third-quarter profit on Sunday, beating analyst estimates as revenue increased.The contractors made a net profit attributable to shareholders of 21.4 million dirhams ($5.83 million) in the three months to Sept. 30, down from 23.8 million dirhams in the year-earlier period, according to a statement to Dub