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 14, 2015

The minister previously announced that the issuance of the bonds will occur during the first quarter of 2015.
04:55 GMT

The collection of $1.5bn through the issuance of international bonds is expected by April.

January 13, 2015

Qatar National Bank head office
12:27 GMT
(press release)

QNB Group continued to record robust growth in profitability, with Net Profit for 2014 amounting to QR10.5 billion (USD2.9 billion), up by 10.3% compared to 2013.

During the event
05:40 GMT
(press release)

Doha Bank organized a SME customer meet related to the projects financed under AL Dhameen Guarantee program of Qatar Development Bank. (QDB)

Jabra Ghandour, ibq Managing Director
04:54 GMT

International Bank of Qatar, (ibq), has won Banker Middle East’s award, for “Best Retail Customer Service” in Qatar within the Banking Products Awards 2014.

Wynce Low, Head of Debt Origination & Distribution at NBAD-South East Asia
04:40 GMT

The National Bank of Abu Dhabi (NBAD) has appointed Wynce Low as Executive Director, Head of Debt Origination & Distribution South East Asia.

January 12, 2015

The new restructuring plan involves full, early repayment of 2015 maturities totalling $2.92 billion.
17:01 GMT

Dubai World has reached formal agreement with a substantial majority of creditors on its proposal to amend and extend the terms of its outstanding debt totalling $14.6 billion.

During the event
11:44 GMT
(press release)

Gulf Bank announced Mrs. Madiha Abdulla Bouftainas the 2014 Al Danah Millionaire at the climax of an evening of festivity, marked with excitement and anticipation.

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).