Business Blog

General Assembly of Arab Orient Takaful Insurance Company approved to surge its capital to become EGP77.330 million, through pumping EGP12.330 million which started from April17 2014, Mohamed Akef, deputy executive director of financial and administrative affairs said.

trong recovery in asset prices, particularly the real estate prices and the prices of locally listed stocks combined with nearly 5 per cent GDP growth fuelled by the non-oil sectors is boosting investor confidence in Dubai and is likely to boost government borrowing, according to analysts.

Kuwaiti firm Al Madina for Finance and Investment Co said it hoped to sign an agreement with creditors which could have a positive impact on its financial statements in 2014.

Saudi-based Tharawat Holding Company is acquiring a majority stake ) in Islamic investment bank Quantum Investment Bank Limited.

By Bernardo VizcainoApril 24 (Reuters) - Pakistani conglomerate Engro CorpEGCH.KA , a former unit of Exxon Mobil Corp XOM.N , plans to raise as much as 4 billion rupees ($40.9 million) through listed sukuk (Islamic bonds), Pakistan Credit Rating Agency Limited said.The proposed sukuk would be secured and offered in two tenors: a three-year 3 billion rupee tranche with a 13 percent profit rate, and

The UK's much anticipated issue of a £200mn Islamic bond, or sukuk, is likely to attract interest from both Muslim and non-Muslim investors, according to the Lord Mayor of the City of London, Alderman Fiona Woolf.