Banking & Finance

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United Arab Bank (UAB)
January 19, 2015 - 14:25 GMT
United Arab Bank, UAB, has made a contribution of AED250,000 to Al Thiqah Club for the Handicapped, another milestone in the Bank’s long-standing relationship with an organisation that provides invaluable support for people with special needs in the UAE.

January 12, 2015

Nimish Dwivedi launches the card
08:55 GMT
(press release)

Mashreq, today announced the launch of the Mashreq sMiles Credit Card – the first miles card in the UAE that allows customers to fly for free, instantly, with over 300 airlines including all domestic carriers of the UAE.

Omar Mehanna, Managing Director and Global Head of Merchant Banking at NBAD
04:54 GMT

The National Bank of Abu Dhabi (NBAD) has appointed Omar Mehanna as Managing Director and Global Head of Merchant Banking.

January 9, 2015

The decline of international oil prices will have a positive short-term impact on FY 2014/2015 real economy, fiscal accounts and price levels.
23:34 GMT

Annual urban inflation has hiked to register 9.8% in December, up from 8.5% in November.

In another step that could cut costs and attract business, the ADGM said it would introduce a new type of firm with lighter disclosure and compliance requirements.
13:40 GMT

Abu Dhabi’s new financial free zone plans to base its rules on English common law, in a decision that could reduce costs and help the emirate develop stronger banking and securities market ties with neighboring Dubai.

January 8, 2015

The Abu Dhabi and Dubai stock markets have dropped sharply in the past several months as the slide in global oil prices has burst speculative bubbles in equities.
11:41 GMT

Several companies in the United Arab Emirates have decided to hold off on initial public offers of shares because of the weakness of stock markets.

January 7, 2015

“The value of Egyptian expatriates’ remittances doubled more than once over four or five years, and is estimated at about $20bn.”
23:20 GMT

The size of expatriate remittances worldwide is about $80bn annually, according to the Director of the Migration and Remittances Unit at the World Bank (WB), Dilip Ratha

Mohammad Al Mazrouei, Director, UAE Red Crescent - Dubai and Mohammad Ali Al Ansari, Chairman and Managing Director, Al Ansari Exchange
10:05 GMT
(press release)

Al Ansari Exchange, a UAE-based foreign exchange and worldwide money transfer company, has announced that it has donated AED 1 million to support the ‘Show Compassion’ campaign.

During the event
09:29 GMT
(press release)

FGB, one of the leading banks in the UAE, finished 2014 with double honors from industry publication Cash Management Matters (CMM).

Julio De Quesada, Head of Corporate & Investment Banking Group, Mashreq
08:46 GMT
(press release)

Mashreq has been awarded with the “Pan-Middle East - Best Regional Investment Bank”, “Best Loan House in the UAE” and “Best Local Bank in the UAE” awards by the EMEA Finance Awards 2014.

January 6, 2015

However, the oil price crash and surging US dollar are a toxic combination for 2015.
11:50 GMT

In the past two it is the Dubai Financial Market that has slumped the most in the world with a decline of more than seven per cent.

Chaouki Daher, DGM and Head of Private Banking at ibq
06:14 GMT

International Bank of Qatar, (ibq), has been recognised by Banker Middle East with the prestigious ‘Best Private Banking Service’ accolade in its Banking Product Awards for 2014.

Iraq plans to boost crude exports to a record this month, the Oil Ministry said. Russia’s output rose to a post-Soviet high in December.
04:55 GMT

Gulf stock markets extended their decline on Monday after the price of Brent crude fell below $56 per barrel.

January 5, 2015

During the event
10:07 GMT
(press release)

Jordan Ahli Bank's SME Academy Unit continued its long-term training programs throughout the year, holding three consecutive workshops that tackled working with budgets, developing sales skills and market positioning.

CBJ Deputy Governor Adel Sharkas indicated on Sunday that the amount would range between JD400 and JD500 million (500 to 600 USD).
04:55 GMT

"The decision to issue Islamic sukuk to finance part of the accumulated deficit in the government."

January 4, 2015

Salem, together with ousted president Hosni Mubarak, was acquitted on illicit gains charges of exporting Egyptian natural gas to Israel at below market rates.
23:17 GMT

Business tycoon Hussein Salem has submitted a request to the Illicit Gain Authority for reconciliation with the Egyptian government and the unfreezing of his assets.