Business Blog

Allfunds Bank will expand its presence in Asia and the Middle East, widening the reach of its intermediation platform while adding more Islamic mutual funds to its product range.

Fawaz Abdulaziz Alhokair Co. has completed a SAR 500 million (USD 133 million), five-year sukuk issue, the company said.

National Bonds Corporation (NBC), the leading sharia-compliant savings and investments company in the UAE,has appointed new members to the Fatwa and Sharia Supervisory Board as part of its priority to ensure the effective compliance of its products, financial services and investments to Sharia principles.The Sharia board will also review and evaluate NBC's contracts, agreement

Senior sources in Mobile Phone operators asserted that the decision of Central bank of Egypt to stop some products including 'Gamayah' which has recently launched by Vodafone Egypt will not affect on mobile payment service in general.

Egypt's leading construction firm, Arab Contractors Company (AC) is running projects worth around US$500 million in Equatorial Guinea, said head of African sector Ashraf Rateb.

The Oman Tourism Development Company (Omran) held a meeting of its newly appointed board of directors (BoD), headed by Dr Ali bin Masoud bin Ali Al Sunaidi, minister of commerce and industry.