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Monday, 15 September 2014

Global Investment appoints chairman and vice-chairman | 15 September 2014 | Stock Market Wire

Global Investment appoints chairman and vice-chairman | 15 September 2014 | Stock Market Wire:



"StockMarketWire.com - Global Investment House's board has elected Ibrahim Saad as chairman and Hamad T. Alhomaizi as vice-chairman.



This followed the resignations of chairman Maha Al Ghunaim and vice-chairman Hisham A. Al-Razzuqi.



The board also proposed the names of Emad Al Monayea and Arul Kandasamy as the replacements for the resigning directors subject to requisite regulatory approvals.



Story provided by StockMarketWire.com"



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Change at #GlobalInvestmentHouse #Kuwait - arabic

http://alwatan.kuwait.tt/mobile/marticledetails.aspx?id=385454

Russia's Ruble Falls Further as Sanctions Darken Mood | News | The Moscow Times

Russia's Ruble Falls Further as Sanctions Darken Mood | News | The Moscow Times:



"The Russian ruble hit more historic lows against the dollar on Monday, falling to 38 rubles per dollar, as investors were concerned about Moscow's response to a new wave of Western sanctions over the Ukraine crisis.



Just after 10 a.m., the ruble weakened by 0.6 percent against the dollar from Friday's close to reach 38.02 and also lost 0.6 percent to trade at 49.24 versus the euro.



Russian assets took a beating last week after new sanctions by the United States and European Union further limited access to foreign capital for some of Russia's key oil companies and state-owned banks."



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ADIB offers investors global Sharia-compliant stocks | GulfNews.com

ADIB offers investors global Sharia-compliant stocks | GulfNews.com:



"Abu Dhabi Islamic Bank (ADIB) said on Sunday it is offering investors low-risk exposure to global Sharia-compliant stocks, to help investors diversify their portfolios. The 100 per cent capital-protected note will track the Dow Jones Islamic Market Titans 100 index, which has given 6.01 per cent annualiased return over the past 10 years and just over 21 per cent in 2013. The notes, which provide 100 per cent capital protection at maturity for a minimum investment of $30,000 (Dh110,190), are open for subscription until September 24."



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DFSA releases findings of corporate governance review in DIFC | GulfNews.com

DFSA releases findings of corporate governance review in DIFC | GulfNews.com:



"The Dubai Financial Services Authority (DFSA) recently concluded a thematic review of the corporate governance of firms licensed to provide financial services in the Dubai International Financial Centre (DIFC). The review focused on twelve themes fundamental to good corporate governance, including management structures and practices, systems and controls, internal audit and management information flows.



A significant finding of the review, documented in the report, was that firms often did not carry out structured, periodic reviews of their governing bodies and their committees, or their effectiveness. The governing body is generally a company’s board of directors."



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Savola Said to Hire JPMorgan for $4 Billion Americana Bid - Bloomberg

Savola Said to Hire JPMorgan for $4 Billion Americana Bid - Bloomberg:



"Savola (SAVOLA) Group, a Saudi Arabian food producer, hired JPMorgan Chase & Co (JPM) to advise on a potential bid for the operator of KFC restaurants in the Middle East and North Africa, according to four people with knowledge of the matter.



Non-binding bids for the $4.3 billion Kuwait Food business, known as Americana, are due next month, the people said, asking not to be identified as the information is private.



KKR & Co. (KKR) and CVC Capital Partners Ltd. have submitted a joint offer while TPG Capital Management LP is also bidding, the people said. Advent International Corp., which participated in the first round of bidding, has dropped out, they said. International banks are lining up financing of between $1 billion to $3 billion for the firms, according to the people."



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