Investcorp seeks $500 mln-plus refinancing - sources

The firm has done some high-profile deals in the past, including flotations of luxury brands Gucci and Tiffany & Co, but like other private equity houses in the region has been hit by unfavourable global market conditions.


Qatar's QIIB mulls sale of Islamic Bank of Britain

IBB confirmed it had received an approach by QIIB, which currently owns a controlling 88.41-percent stake, to take over the remaining shares with a view to a possible sale as it considers the strategic future of the UK bank.


Gold's tarnished safe haven status gets a polish

The dollar, US Treasuries and German Bunds have been the safe havens of choice in recent months, while gold has moved in tandem with riskier assets that are under increasing pressure from the euro zone crisis.


Ex-UBS CEO wants SNB to quit FX cap

The Swiss National Bank's franc cap of 1.20 per euro should go sooner rather than later to shield the economy, the former head of bank UBS said, while some Swiss parliamentarians called for capital controls to forestall an influx of safe-have flows f


China's ICBC wants to be major bullion market maker

The world's biggest bank by market value, ICBC is the top player by volume on China's gold and futures exchanges, but its participation in foreign markets is limited to over-the-counter trading, which reached a total $90 billion last year.


Turkey's gold reserves went up by 29.7 metric tonnes in April

In April, many countries decided to increase their gold reserves as gold averaged $1,649.74 an ounce, data on the IMF's website showed. Ukraine's reserves went up by 1.4 tonnes, Mexico's by 2.9 tonnes and Kazakhstan's by 2 tonnes.


Gold Poised to Regain Safe-Haven Status

In recent months, gold has traded broadly in line with industrial metals and equities as investors seek cash due to fears over the euro-zone debt crisis and slowing global growth.