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Jamal bin Ghalaita, CEO of Emirates Islamic
April 19, 2015 - 10:26 GMT
Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has been named the ‘Best Islamic Bank in the UAE’ at the 2015 World Finance Awards.
In its rating action, Moody’s has also lowered Bahrain’s foreign currency bond ceiling to Baa 1 from A3 and the foreign-currency deposit ceiling to Baa 3 from Baa2.
April 19, 2015 - 06:55 GMT
Moody’s Investors Service said on Thursday it has downgraded Bahrain’s long-term government issuer rating to Baa 3 from Baa2 due to expected deterioration in the government’s finances.
The source further explained that Kuwait will be targeting between “5%-10% shares of large transactions” in Egypt.
April 19, 2015 - 04:55 GMT
Kuwait has completed the lengthy establishment of a company through which the state’s future investments in Egypt will be carried out.
Saudi Arabia announced last July that it would permit direct foreign purchases of shares in the first half of 2015 (image: on file).
April 16, 2015 - 19:35 GMT
Saudi Arabia will open its $532 billion stock market to direct foreign investment on June 15.
In 2013, the IMF’s projections for real GDP growth was 2.2% (image: on file).
April 16, 2015 - 08:45 GMT
Growth forecasts for Egypt’s real gross domestic product (GDP) were raised to 4% in 2015 and 4.4% in 2016, the International Monetary Fund (IMF) said in its World Economic Outlook report.
Neither the DFSA or Deutsche would disclose whether any action had been taken against individuals (image: on file).
April 15, 2015 - 22:39 GMT
Deutsche Bank must pay the largest ever fine levied by the regulator of Dubai's financial free zone for what the watchdog described as "serious contraventions"
Poster Salary April 2015
April 15, 2015 - 11:54 GMT
Gulf Bank announced that it has enhanced its salary offer for new salary customers who transfer their salaries to the bank.
During the event
April 15, 2015 - 08:52 GMT
World Finance magazine granted Bank Al Jazira the Best Bank award in Retail Banking in the KSA for 2014, during a ceremony held in the London Stock Exchange.
Nasser Al-Sayer, NBK Chairman
April 15, 2015 - 05:49 GMT
National Bank of Kuwait (NBK) reported net profits of USD 321.5 million (KD 96.5 million) for the first quarter of 2015 compared with USD 279.6 million (KD 83.9 million) for the same period in 2014, growing 15% year-on-year.
The bank’s past experience in integrating previous acquisitions will “ensure a smooth transition for the clients of this business,” he added.
April 14, 2015 - 18:06 GMT
Swiss private banking firm Union Bancaire Privee (UBP) is hoping to boost its Middle East operations following its recent acquisition of the overseas operations of Coutts from the Royal Bank of Scotland (RBS).
Erdogan has hardly helped investor sentiment, fulminating against high interest rates in comments which have raised concerns about the independence of the central bank.
April 14, 2015 - 17:07 GMT
Turkish President Recep Tayyip Erdogan dreams of transforming Istanbul into a financial hub that can rival Dubai or Singapore, but first he needs to win over would-be investors like Ali Bahcuvan.