Banking & Finance

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Saudi's Tadawul is currently dominated by local retail investors, but opening up to the international market will broaden horizons (File/AFP)
July 24, 2014 - 13:07 GMT
Saudi Arabia's decision to open its stock market to the outside world was a good choice and already garnered strong support across the MENA region.

May 11, 2014

“However, there’s still a majority of companies that do not plan to make any increases this year, waiting to see what happens in 2014,” Gomes told Gulf News.
03:55 GMT

Workers have been hoping for a relief from rising rents, which rose on average by 22 per cent last year, and increasing cost of commodities and services.

May 8, 2014

The signing of this agreement is based on the Foreign Account Tax Compliance Act (FATCA), which is expected to go into effect in two months
15:18 GMT

Former IRS senior district attorney Barbara Kaplan says US citizens who conceal funds in Israel could also face criminal charges.

During the event
10:31 GMT

The National Bank of Abu Dhabi (NBAD) has celebrated 120 employees who earned professional qualifications in various professional development programmes.

Caetano Fernandes, Senior Vice President  & Head of Mashreq Gold
08:33 GMT
(press release)

Mashreq has announced the launch of Home Equity Release solution, which enables clients to use the additional value in their home to generate cash flows, which can be used for further investments to generate wealth.

Egypt is currently trying to reduce a budget deficit which hit 14 percent in the 2012-2013 fiscal year, bringing it down to 11-12 percent by the end of the current fiscal year.
04:58 GMT

Supposedly, the exceptional measure is designed to answer calls for social justice raised during Egypt's 2011 revolution.

KIPCO’s first-quarter revenue rose 19 per cent to 137 million dinars.
00:59 GMT

Kuwait Projects Co (KIPCO), the Gulf state’s largest listed investment company, reported a 20 per cent rise in first-quarter profit on Wednesday.

May 7, 2014

NCB Capital Company
09:24 GMT
(press release)

NCB Capital has announced that it has successfully closed subscriptions to the AlAhli SEDCO Residential Development Fund after exceeding the Fund’s target of SR350 million.

Dubai Islamic Bank also contributed to the uptick, rising 5.5 percent to extend gains that started on Thursday when the lender posted a doubling of first-quarter net profit.
00:21 GMT

Emaar gained 6.3 percent to 10.45 dirhams – the level last seen in May 2008 – on increased volume and helped Dubai’s benchmark jump 3.3 percent, also the highest since 2008.

May 6, 2014

Vikram Krishna, Head, Group Marketing and Customer Experience, Emirates NBD
10:50 GMT
(press release)

Emirates NBD announced that it has been named “Social Brand of the Year,” at the recent MENA Digital Awards, in recognition of its integrated and dedicated presence on social media platforms.

Mashreq officials at Start Up Academy
07:34 GMT
(press release)

Mashreq has announced a unique partnership with Arabian Business StartUp Magazine, designed to offer aspiring entrepreneurs, start-up business founders or SME employees the tools to improve, expand or launch their ventures.

May 4, 2014

Andre Sayegh, CEO of FGB during the launch of the Global Wealth Management Service
11:48 GMT
(press release)

FGB, one of the leading banks in the UAE, is expanding its Consumer Banking Group services globally, and has announced that it is now offering its Global Wealth Management Service in Singapore.

Suvo Sarkar, General Manager – Retail Banking and Wealth Management, Emirates NBD
11:21 GMT
(press release)

Emirates NBD announced the launch of “DirectRemit,” a first-of-its-kind remittance service that allows Non-Resident Indian (NRI) customers to remit money to any HDFC Bank account in India in just 60 seconds.

Marcello Baricordi, General Manager UAE and Global Accounts Lead at Visa Inc. MENA
07:13 GMT
(press release)

Global payments’ technology company Visa Inc. will deliver a snapshot of the findings from its latest Affluent Study on the opening day (Monday 5 May) of the Arabian Travel Market 2014.

During the event
07:07 GMT

National Bank of Kuwait (NBK) honored Ibrahim Dabdoub, NBK Ex-Group Chief Executive Officer, for his 53 years of excellence at NBK.

During the event
05:59 GMT
(press release)

At the Asian Banker Awards ceremony, held on Wednesday April 30th, 2014 in Dubai, Abu Dhabi Commercial Bank (ADCB) received two prestigious awards.