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Deutsche Bank to become a shareholder in Bahrain's GFH
Source: BI-ME and Bloomberg , Author: BI-ME staff
Posted: Tue November 24, 2009 10:48 pm
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BAHRAIN. Gulf Finance House (GFH) said Deutsche Bank AG decided to convert part of an Islamic financing extended to the Bahrain-based investment bank into shares, according to a statement on the Dubai bourse Web site today.

Deutsche Bank will receive 78.95 million Gulf Finance House shares worth US$30 million, said the Bahraini bank. This sum is part of a US$100 million convertible Murabahah facility received from Deutsche Bank, it said.

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: September 2, 2010
INTERNATIONAL. The triangle pattern has taken nearly 9 months so far, and a move over US$19.50 could start a multi-month run targeting US$26-US$29 per ounce for starters before a broad pullback.
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UAE. Given the recent developments in Saudi Arabia and India, there is now a greater level of hope that the TRA and RIM will reach an agreement about the manner in which BB Messenger services are provided.
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UAE. GCC Telecom markets are on the verge of saturation, while prices decline due to increasing competition, resulting in telcos profits being under very high pressure.