Please wait...
GulfBase Live Support
- Dubai: Eviction notices push some tenants to buy their home
- GCC grocery market shifts toward value-led retail: Oliver Wyman
- Dubai's luxury market soars with Dh3.68m Royal Atlantis rental deal
- Three Zakat, Tax, and Customs Authority employees arrested after receiving bribes: Nazaha
- The Fed has the proof it wants that inflation is slowing, but the next move is still up in the air
- EEC's capital optimization plan to shore up financial position and sustain growth: CEO
- CMA Chief unveils 3-year strategy to bolster Saudi capital market's global
- S&P revises Saudi Arabia's outlook to positive, affirms 'A/A-1' ratings
- Saudi Arabia's inflation rate hits 1.6% in August: GASTAT
- Saudi Arabia calls for regional cooperation to tackle environmental challenges
03/05/2009 00:00 AST
Kuwaiti Islamic asset manager Aayan Capital said it would be shut down as part of plans by its parent firm Aayan Leasing and Investment Co to cut costs by restructuring.
Aayan Capital had been in merger talks with two local investment companies late last year, but those talks failed, and Aayan Leasing now planned to liquidate the company, Aayan Capital Managing Director Mansour al-Mubarak said.
"The intention is to dissolve Aayan Capital in a very short while and will combine it with the (parent) company," Mubarak said in an interview on Thursday.
The Islamic investment firm also plans to merge two of its transportation leasing units as it strives to cut costs and restructure, Mubarak said, adding Aayan Leasing could post a loss in the first quarter after revaluing some assets.
"We might get into losses in the first quarter," he said.
Reuters
24/05/2011
Kuwait's leading Islamic firm Aayan Leasing and Investment Co yesterday signed a KD205 million ($743.6 million) debt restructuring agreement with its creditors. After signing the agreement at the She
Kuwait Times
27/07/2010
Aayan Saudi Leasing Company, the leading company in leasing and selling cars, has implemented a training program for operational leasing staff in all its branches Kingdom-wide to further improve thei
Saudi Gazette
05/05/2009
Kuwaiti investment firm Aayan Leasing and Investment Co said on Monday it wants to merge its asset management unit with the parent firm but had not taken a final decision yet.
The statemen
Reuters
14/09/2024
RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <
Saudi Gazette
12/09/2024
Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces
Arab News
04/05/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia