Takaful premium rose 19 percent to $8.3bn led by GCC countries

The global Takaful contributions grew by 19 per cent to $8.3 billion in 2010 and of these, the Gulf Cooperation Council (GCC) contributed $5.68 billion and South East Asia contributions were $2 billion, according to the 5th edition of Ernst & Young’s World Takaful Report 2012 report. In 2010, growth in the GCC slowed to […]

Libyan premier in Doha talks

HE the Prime Minister and Foreign Minister Sheikh Hamad bin Jassim bin Jabor al-Thani yesterday held official talks with Abdel Rahim al-Kib, the premier of Libya’s transitional government. Discussions explored “ways of expanding co-operation in various sectors and focused on the latest developments in Libya as well as ways of realising the aspirations of the […]

Qatar buys into Libyan bank

Qatar’s top bank has purchased a major stake in one of Libya’s leading privately held financial institutions. The deal strengthens the commercial ties between two countries already bound together politically in the wake of the Arab Spring uprisings. Following months of negotiations, Qatar National Bank, the energy-rich Arabian Peninsula kingdom’s largest financial institution, paid an […]

Investment and maritime services top agenda in Libya visit

  On the margins of the business delegation to Libya, organised by Malta Enterprise with a specific focus on the maritime and port sectors, Finance Minister Tonio Fenech Minister and Minister for Fair Competition, Small Businesses and Consumers Jason Azzopardi yesterday met Yousef Al Wehishi, Minister of Communications and Transport, Rajab Khalil, the deputy Minister […]

Tatneft 2011 Net Profit Rises 31.7% to $2.06 Bln

Tatneft, Russia’s sixth largest crude oil producer, saw 2011 net profit jump 31.7 percent year-on-year to 61.428 billion rubles ($2.06 billion) to US GAAP, the company said in a statement on Monday. Revenue rose 31.6 percent in 2011 to 615.867 billion rubles, while pre-tax profit grew 33 percent to 85.909 billion rubles. The company’s short-term […]

Jordan says Libya owes $140 mln in medical bills

Jordan’s Private Hospitals Association said today Amman is demanding Tripoli pay around 100 million dinars ($140 million) in bills for tens of thousands of Libyans hospitalized in the kingdom. “Jordan wants 100 million dinars from Libya, for treating its nationals in the country’s hospitals,” Awni Bashir, head of the association, told AFP. “Libya has paid […]

Abu Dhabi fund to take 2 seats on UniCredit board

Abu Dhabi investment vehicle Aabar, UniCredit’s biggest single shareholder, will have two seats in the Italian bank’s new, slimmed-down board, according to a list of board nominees presented on Monday. The new board will have 19 members, down from 23. Aabar, which has a 6.5 percent stake in UniCredit, said its chairman, Kadem Abdulla al-Qubaisi, […]