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Jeddah / Emirates Business The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, signed a US$75 million Syndicated Murabaha Financing agreement on Sunday, with the Government of Senegal, with Suneor (the major player in the Senegalese groundnut sector) as Executing Agency. . The signing ceremony took place at the headquarters of the ITFC ...

Colombo / AFP The Asian Development Bank on Tuesday announced over $2.0 billion in loans and equity to Sri Lanka, which is in negotiations with the International Monetary Fund for a bailout. ADB president Takehiko Nakao said the money would be used to finance expressways, railways, power generation and education. It covers 2016 through 2018 and compares with $1.5 billion ...

Manama / Emirates Business The 5th Euromoney GCC Financial Forum, co-hosted by Bahrain Economic Development Board (EDB), kicked off on Tuesday on a high note at Four Seasons Hotel, Kingdom of Bahrain, with an interactive format to encourage delegate participation. More than 500 leading international and regional financial experts from finance, investment, government, regulatory organisations, businesses and members of the ...

ANKARA / EMIRATES BUSINESS Kuwaiti investors will have a unique opportunity to discover Turkey’s diverse real estate landscape and meet with leading local and international developers and market experts at next month’s inaugural Cityscape Turkey exhibition, which will be held from 24-26 March, 2016 at the Istanbul Congress Center. The latest addition to the Cityscape portfolio of global events, the ...

Bloomberg Dream Office Real Estate Investment Trust, Canada’s biggest office REIT, jumped the most in more than seven years after it said it would sell about C$1.2 billion ($870 million) of property and reduce its payout to weather the energy downturn. Dream Office rallied as much as 14 percent to C$18.60 in Toronto, the most since December 2008. The REIT ...

ANKARA / EMIRATES BUSINESS Qatari investors will have a unique opportunity to discover Turkey’s diverse real estate landscape and meet with leading local and international developers and market experts at next month’s inaugural Cityscape Turkey exhibition, which will be held from 24-26 March, 2016 at the Istanbul Congress Center. The latest addition to the Cityscape portfolio of global events, the ...

Washington / AP U.S. home prices increased at a steady clip in December, helped by a healthy job market and low mortgage rates. The Standard & Poor’s/Case-Shiller 20-city home price index rose 5.7 percent from a year earlier, same as the annual increase in November. Prices rose 11.4 percent in Portland, Oregon; 10.3 percent in San Francisco and 10.2 percent ...

Atalanta / AP Home Depot reported better-than-expected profit and revenue in the fourth quarter and comparable-store sales jumped as the company continues to ride a sustained recovery in the housing market. The nation’s largest home improvement retailer also boosted its quarterly dividend by 17 percent. Solid job gains and low mortgage rates have fueled a rebound in home sales. Builders ...

DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower), has recorded a net profit of AED516 million for fiscal year ended December 2015, representing an impressive 27% increase over 2014. Total revenues for the year reached AED 1.66 billion, a 12% increase YoY. “Empower achieved an annual increase of 6.7% in its cooling capacity, to pass it over 1,115,000 Refrigeration ...

DUBAI / EMIRATES BUSINESS Dubai Courts’ Al Jawhara Women’s Council Women Council’s recently released ‘Annual Report 2015’ shows its last year’s accomplishments made possible through the implementation of its various strategic initiatives. The Council’s main focus included investments in human resources and improvement of women’s competencies to activate their leadership role and increase their participation in social, cultural and sports activities ...