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Project Blue, a firm owned by the Qatar Investment Authority, had used a type of Islamic finance that meant a bank actually owned the property.  (E-architect.co.uk)
May 29, 2016 - 09:00 GMT
A UK court has ruled that HM Revenue & Customs pursued the wrong party for taxes in the sale of Chelsea Barracks to Qatar Investment Authority in 2007.
Hussain Al Qemzi, CEO, Noor Bank
May 29, 2016 - 08:27 GMT
Noor Bank has successfully priced its debut perpetual US$ 500 million Tier 1 capital issuance.
The Hezbollah International Financing Prevention Act is a bill introduced in 2014 that sought to impose on institutions that facilitate transactions on behalf of Hezbollah or its agents. (File photo)
May 29, 2016 - 06:00 GMT
White House official Adam Szubin has said that recent sanctions and legislation have been effective in choking Hezbollah's finances.
Sharjah Islamic Bank
May 29, 2016 - 05:47 GMT
Sharjah Islamic Bank (SIB), a leading shariah compliant commercial bank in the UAE, has successfully repaid a USD 400 million sukuk.
A foreign ministry spokesman said the Swiss government had blocked about $650 million in the case of Egypt, and $61 million in the case of Tunisia. (Twitter)
May 26, 2016 - 13:26 GMT
A new law allowing Swiss authorities to seize and return illicitly-acquired funds from Swiss banks will come into effect in July.
Analysts had earlier predicted that Qatar's bond would only be valued at $5 billion. (File photo)
May 26, 2016 - 12:56 GMT
The sale will help to bridge Qatar's budget deficit, which is expected to reach $12.8B this year due to persistently low oil prices.
Movie ticket
May 26, 2016 - 11:58 GMT
Gulf Bank is announcing exclusive discounts for its red™ customers to watch the latest movies at all Cinescape for only KD 2 instead of the usual KD 3.5 rate seven days a week.
Tablet Banking App
May 26, 2016 - 08:52 GMT
RAKBANK is pleased to introduce a new and innovative approach for credit card sourcing by empowering its Direct Sales Agents (DSAs) with a Tablet PC preloaded with a bespoke App and an Emirates ID reader.
Mr. Hisham Alrayes, GFH Group CEO
May 26, 2016 - 06:29 GMT
GFH Financial Group conducted a presentation at the Dubai Financial Market on “GFH Future Prospects” which was attended by the shareholders, investors and the brokers.
Earlier this week, Reuters reported that the bank had cut 15 per cent of its workforce of 70 employees. (File photo)
May 26, 2016 - 05:00 GMT
The investment bank released a statement to insist that the slashed jobs do not have a significant impact on the firm's performance and balance sheet.
Doha Bank is the worst performing lender on the Qatar Exchange Index, having been hit by negative S&P ratings due to an expected further deterioration in its asset quality. (File photo)
May 25, 2016 - 12:00 GMT
Bank liquidity in the GCC has been hit by a more than 50 per cent slide in crude prices since mid-2014, forcing banks to redefine its business models.
SoftBank Robotics’ humanoid robot Pepper
May 25, 2016 - 09:14 GMT
MasterCard today unveiled the first commerce application for SoftBank Robotics’ humanoid robot Pepper.
The vote drew fire from BDS activists on Jordanian social media networks. (File photo)
May 25, 2016 - 04:58 GMT
As Jordan celebrates its Independence Day, a parliamentary vote to permit Israelis to support Jordanian governmental projects has generated controversy.
Noor Bank
May 24, 2016 - 11:21 GMT
Noor Bank has bagged industry-specific awards from the prestigious Global Finance and Euromoney magazines.
John Iossifidis, Head of Corporate & Investment Banking Group, Mashreq
May 24, 2016 - 10:38 GMT
Mashreq, one of the UAE’s leading financial institutions, is sponsoring the MEED Construction Leadership Summit (MCLS) and MEED Quality Awards for Projects 2016 for the fourth consecutive year.
The report did not disclose the names of the individuals or groups whose bank accounts were frozen, their nationalities, or amounts. (Shutterstock)
May 24, 2016 - 09:02 GMT
The latest report from Lebanon's Special Investigation Commission reveals the latest in a series of measures to combat terrorism financing and money laundering.