Banking & Finance

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CEO of Emirates NBD, Shayne Nelson, said in-market mergers  work better monetarily (File/AFP)
August 26, 2014 - 07:31 GMT
It's getting too crowded in the UAE banking sector with too many lenders competing with one another to please a small population, according to a senior banker.

August 28, 2014

Petrochemicals supported the uptrend of the kingdom's stock market (File/AFP)
11:33 GMT

The Tadawul All-Share Index breached 11,000-mark with a six-year high. Strong global demand for petrochemicals supported the increase.

Nimish Dwivedi, Head of Payments, Mashreq
09:29 GMT
(press release)

Mashreq has launched a special offer for their cardholders’ convenience by allowing them to pay for school fees using their credit card and to make repayments in easy installments of up to 12 months with absolutely zero interest.

August 27, 2014

Prince Faisal bin Salman praised the holy city for its efforts to encourage young people into business (File/AFP)
09:54 GMT

Prince Faisal bin Salman said Medina is an investment-friendly province and called for young people to put their ideas into viable projects.

A Kuwaiti man withdraws cash from an ATM machine (File/AFP)
06:55 GMT

Bahrain's Gulf Finance House Wednesday signed a $105 million deal with Kuwait Finance House in the wake of the global finance crisis, which hit the Middle East.

August 25, 2014

Suvo Sarkar, General Manager – Retail Banking and Wealth Management, Emirates NBD
09:39 GMT
(press release)

Emirates NBD, a leading bank in the region, announced today the launch of a dual value-added offer for customers making school and university fee payments via credit cards.

During the event
05:25 GMT
(press release)

The Institute of Directors, Tamil Nadu State Chapter hosted the Global Summit 2014 on Business Excellence on August 22 and 23, 2014 at ITC Grand Chola, Chennai – India.

August 24, 2014


The STRs are designed to flag questionable financial activity and 354 were registered between January and June this year compared with just 237 in the first six months of last year.
21:28 GMT

A spike in the number of suspicious transactions related to money laundering and terrorism financing has been recorded in Bahrain in the first half of this year, a report said.

Garry Lyons, MasterCard’s Chief Innovation Officer
08:51 GMT
(press release)

MasterCard has been featured on the Forbes Most Innovative Companies list.

Five more luxury sedans to be won under bank’s annual savings promotion
06:12 GMT
(press release)

Al Hilal Bank awarded the first of six 2015 Audi A8 luxury sedans it is giving away for free to its patrons under its annual Savings Promotion which runs from July 15, 2014 to January 15, 2015.

A new schedule will be prepared for paying outstanding dues to foreign partners in the petroleum sector,
04:55 GMT

The government is the reason behind the continued inability of the petroleum sector to repay dues to foreign partners in return for oil and gas received monthly, said an official at the Ministry of Petroleum

August 21, 2014

 In November 2008 Bank Sarasin made margin calls which the claimants did not meet. Bank Sarasin closed out the investments; with the consequence that the Khorafis suffered substantial losses.
23:28 GMT

The case dates back to 2007 and early 2008, when on the introduction of Sarasin-Alpen, the Khorafis purchased structured financial products from Bank Sarasin.

Saleem Khokhar, the Head of Equities at NBAD’s Asset Management Group
11:10 GMT

The National Bank of Abu Dhabi (NBAD) distributed 2.40% dividend to NBAD MENA Income and Growth Fund investors with the option to reinvest the dividend in lieu of a cash payout.

August 20, 2014

This new service gives customers the ability to withdraw cash and send money to their friends, family or anyone in the UAE instantly using their mobile phone, even if the recipient does not have a bank account.
20:23 GMT

This new service gives customers the ability to withdraw cash and send money to their friends, family or anyone in the UAE instantly using their mobile phone, even if the recipient does not have a bank account.

Standard Chartered Bank
13:54 GMT
(press release)

Standard Chartered Private Equity announced the acquisition of a minority stake in Topaz Energy and Marine, one of the world’s leading offshore support vessel operators, through an equity investment of US$ 75 million.

August 19, 2014

FGB's new Head of Corporate Finance Advisory, Michael Aissaoui
11:44 GMT
(press release)

FGB, one of the leading banks in the UAE, has announced the appointment of corporate finance specialist, Michael Aissaoui.