Since US GDP was revised down and the political impasse over debt ceiling talks in the US, the financial markets have been particularly volatile. Asset classes that ordinarily would exhibit low volatility have been exhibiting extreme volatility including foreign exchange rates, commodities and government bond markets. Correlations between asset prices have also moved to an extremely high level, making optimal investment decisions difficult. The markets move from one extreme to another; from hope of a resolution to the Greek debt question and Eurozone exit and hope of further stimulus in the form of QE on the one hand to fears of global recession and deflation on the other. “Notable this year has been the dramatic falls in European equities as compared to US equities; the S&P 500 is currently down about 9% whilst the German DAX is down 18% for 2011. The reason for this is that investors believe that Eurozone issues are more of a drag on Europe's economic outlook than that of the US. Emerging market equities have already reflected to some extent a slow-down in China, and significant falls have been registered in Russia, Brazil, Hong Kong and other emerging markets. The risks to the equity market remain to the downside in the near-term and until there is some resolution or finality to the Greek and Eurozone question. Investors who wish to retain equity exposure would be well advised to stick with the “ultra-defensive” stocks rather than high dividend yield stocks per se. Ultra-defensives include some large-cap consumer staple stocks and some pharmaceuticals as well as a select few utilities,” he said.
Taib Bank is pleased to announce the appointment of three new Non-executive Directors representing the interests of its majority shareholder, Dubai Financial Group part of Dubai Holding. Taib Bank Management team, lead by Mr. Sohail Sultan, has been engaged in a comprehensive plan to restructure and refocus the Bank over the last several months.
The Bahrain Financial Exchange (BFX), the first multi-asset exchange in the Middle East and North Africa (MENA) region, is pleased to announce that Taib Bank, a rapidly growing regional investment bank, has become a Trading Member of the BFX.
The membership will enable Taib Bank to trade cash instruments, derivatives, structured products and Shariah compliant financial instruments in a secure environment regulated by the Central Bank of Bahrain on behalf of its institutional and high net-worth individual client base.
TAIB Bank is pleased to announce that as part of its restructuring strategy, Mr Khaldoon Bin Latif has been appointed as General Manager of TAIB Securities. Before joining TAIB, Mr Bin Latif was head of the International equity sales desk at AKD Securities, one of the leading securities firms in Pakistan and has extensive experience in trading equities from both a Buy and Sell Side perspective. Prior to his role at AKD Securities, Mr Bin Latif was Head of Research with responsibilities for the management of an energy fund at PICIC Asset Management, part of Temasek Holdings, an Asian investment house headquartered in Singapore with Singapore $193 billion under management.Mr Bin Latif has a degree in economics from Lahore University of Management Services
Taib Bank, is pleased to announce that, as part of its restructuring strategy and with the ongoing support of its Shareholders and the Central Bank Of Bahrain, a new Board has been appointed post the Company's Shareholder General Meeting held on August 10th.Under the leadership of its new CEO, Sohail Sultan and his management team, significant progress has been made over the last eight months with the bank's liquidity and capital positions restored. An ongoing restructuring strategy has delivered significant financial and operational restructuring across the group with the current focus now on repositioning Taib as a strong regional bank via its established banking platforms in Bahrain, UAE, Turkey, India and Kazakhstan. This unique network now operates under a single unified structure and creates the foundations for significant growth across the MENA region for the group. The new Board, which is detailed below, will provide valuable guidance to the management team during this next phase in Taib's evolution and represents the interests of major shareholders from the UAE and Saudi Arabia. It is also supported by three independent directors approved by the Central Bank of Bahrain. The new appointments are Mr. Abdul Rahman Abdulla Mohamed, Mr. Abdulaziz Ahmed Abdulmalik, Mr. Adel A. AlMannai, Mr. Srinivasan Sridharan, Mr. Ramzi K. Y. Abukhadra, a senior partner of Gulfmerger representing the interests of Saudi based Mr. Abdulaziz AlRashid.Mr. Avinash Pangarkar . TAIB Bank B.S.C. (c), a Bahrain based bank, was established in 1979 and is regulated by the Central Bank of Bahrain. It listed on the Bahrain Stock Exchange in 1994
TAIB Bank, announce that, as part of its restructuring strategy and with the ongoing support of its Shareholders and the Central Bank Of Bahrain, a new Board has been appointed post the Company's Shareholder General Meeting. Under the leadership of its new CEO, Sohail Sultan and his management team, significant progress has been made over the last eight months with the bank's liquidity and capital positions restored.
As part of its restructuring strategy TAIB Bank has appointed a new board following its shareholder general meeting. Under the leadership of its new chief executive officer Sohail Sultan and his management team, significant progress has been made over the last eight months with the bank's liquidity and capital positions restored. An ongoing restructuring strategy has delivered significant financial and operational change across the group with the current focus now on repositioning TAIB as a strong regional bank through its established banking platforms in Bahrain, the UAE, Turkey, India and Kazakhstan. The independent directors, all experienced bankers, are former National Bank of Bahrain senior executive Abdul Rahman Abdulla Mohamed, BMB Investment Bank former senior executive Abdulaziz Ahmed Abdulmalik and The Arab Investment Company former Bahrain branch executive Adel Al Mannai. The non-executive directors are Dubai Group senior executive Srinivasan Sridharan, representing the interests of Dubai Financial Group, Gulfmerger senior partner Ramzi K Y Abukhadra, representing the interests of Saudi-based Abdulaziz Al Rashid and Dubai Holdings senior executive Avinash Pangarkar, representing the interests of Dubai Financial Group.
