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QIIB shareholders approve amendment of provisions of Articles of Association

QIIB shareholders approve amendment of provisions of Articles of Association

QIIB shareholders at their extraordinary general assembly meeting on Monday night approved amendment of some of the provisions of the Articles of Association in order to comply..

Islamic finance feels heat from $700mn Dana saga

Islamic finance feels heat from $700mn Dana saga

Islamic finance operators are scrambling to tighten the industry’s rules in order to make sure other companies cannot take the same path as Dana Gas, which recently forced a $700mn debt restructuring.

Uzbekistan set to develop Islamic banking system

Uzbekistan set to develop Islamic banking system

Uzbekistan is joining the rising number of Central Asian nations to develop a Shariah-compliant banking system given its large Muslim population and rising demand for financial services aligned to Islamic beliefs.

Emirates NBD buys Denizbank for $3.2bn from Sberbank

Emirates NBD buys Denizbank for $3.2bn from Sberbank

Emirates NBD has agreed to buy Turkey’s Denizbank from Russia’s state-owned Sberbank for $3.2bn to help establish itself as a leading bank in the Middle East, North Africa and Turkey.

Europe stocks extend gains as trade war tensions ease

Europe stocks extend gains as trade war tensions ease

European stocks rose yesterday, with London hitting a new high on upbeat global sentiment and easing Italian political worries, dealers said.

Zuckerberg apologises to EU lawmakers over data leak

Zuckerberg apologises to EU lawmakers over data leak

Facebook boss Mark Zuckerberg apologised to European Union lawmakers yesterday for a massive data leak, in his latest attempt to draw a line under a scandal that has rocked the world’s biggest social media network.

‘Big number’ on Dodd-Frank is not as big as Republicans wanted

‘Big number’ on Dodd-Frank is not as big as Republicans wanted

US lawmakers are set to give President Donald Trump a chance to make good on his vow to “do a big number” on the Dodd-Frank Act.

‘German firms can’t be entirely shielded from US move on Iran’

‘German firms can’t be entirely shielded from US move on Iran’

Germany’s government will help German firms with business in Iran where it can, but cannot entirely shield them from the US decision to quit the Iran nuclear deal and reimpose sanctions against Tehran, the economy minister told a newspaper.

‘Govt not to sell Air India, if bids are below minimum floor price’

‘Govt not to sell Air India, if bids are below minimum floor price’

The central government might not sell its stake in the ongoing divestment process of the national passenger carrier Air India, if bids do not meet a minimum threshold value or floor price estimated for the airline.

Sony in $2.3bn deal for EMI, becomes world’s biggest music publisher

Sony in $2.3bn deal for EMI, becomes world’s biggest music publisher

Sony Corp said yesterday it would pay about $2.3bn to gain control of EMI, becoming the world’s largest music publisher in an industry that has found new life on the back of streaming services.

HNA exploring Ingram Micro sale; China Huarong held talks

HNA exploring Ingram Micro sale; China Huarong held talks

Several Chinese groups, including Huarong Asset Management, have been in discussions this year to buy Ingram Micro from HNA Group as the once-acquisitive conglomerate continues its efforts to retrench, according to sources with knowledge of the talks.

Westpac pushed pie shop owner to repay loan

Westpac pushed pie shop owner to repay loan

Australia’s Westpac Banking Corp repeatedly phoned and texted the owner of a failed pie shop to demand repayment of a loan, the shop owner said yesterday, as a financial inquiry focused on abuses in small business lending.

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