Business Blog

Karachi-based Jubilee General Insurance Co JGIC.KA will seek shareholder approval to offer Islamic insurance (takaful), the latest firm to enter the sector after conventional firms were allowed to offer sharia-compliant products earlier this year.

Karachi-based Jubilee General Insurance Co JGIC.KA will seek shareholder approval to offer Islamic insurance (takaful), the latest firm to enter the sector after conventional firms were allowed to offer sharia-compliant products earlier this year.

Malaysia's Bank Islam, wholly-owned by BIMB Holdings Bhd BIMB.KL , has set up a 1 billion ringgit (USD 307 million) subordinated Islamic bond programme, the latest Asian bank to use the structure to boost regulatory capital.

Malaysia's Bank Islam, wholly-owned by BIMB Holdings Bhd BIMB.KL , has set up a 1 billion ringgit (USD 307 million) subordinated Islamic bond programme, the latest Asian bank to use the structure to boost regulatory capital.

Malaysia's Bank Islam, wholly-owned by BIMB Holdings Bhd BIMB.KL , has set up a 1 billion ringgit (USD 307 million) subordinated Islamic bond programme, the latest Asian bank to use the structure to boost regulatory capital.

* Wall St indices drop 2 percent* Treasuries yields touch recent record lows* Brent oil at two-year lows under $90 a barrel* Gold up for fourth day(Adds closing New York prices, quotes)By Michael ConnorNEW YORK, Oct 9 (Reuters) - Wall Street stocks slumped 2 percent on Thursday as anxieties about global economic growth smothered a short-lived rally in equity markets around the world that was spark