Banking & Finance

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Gulf entities have provided at least $30 billion of funding, at current prices, for African infrastructure over the last decade.
November 24, 2014 - 00:30 GMT
In the year 2000, The Economist magazine famously described Africa as “the hopeless continent” on its cover.

October 27, 2014

Arab Bank Group said it had begun legal steps to appeal a US jury ruling which found it liable for financing Islamic group Hamas.
04:55 GMT

The US civil lawsuit brought against the Jordan-based bank has been described by lawyers as the first of its kind to reach trial

But it is not in Aabar’s interests to derail the deal as a failed merger could drive down shares in the stock market.
04:55 GMT

Aabar Investments is demanding a hefty premium for its minority stake in Malaysia’s No.4 bank.

October 26, 2014

Political instability has scared off wealthy Gulf Arab tourists and some investors.
13:20 GMT

The stimulus packages have comprised low borrowing rates for housing and new projects, including renewable energy.

Emirates NBD Manchester United Cards
10:51 GMT
(press release)

Emirates NBD announced that the Emirates NBD-Manchester United partnership was awarded the ’Best Co-brand Programme‘ at the MasterCard Innovation Forum 2014 recently held in Singapore.

Burgan Bank Yawmi account
10:23 GMT
(press release)

Burgan Bank announced today the names of the lucky winners of its Yawmi account draw, each taking home a prize of KD 5,000.

UAE Exchange
06:57 GMT

UAE Exchange, the leading global money transfer, foreign exchange and payment solutions brand, said, it currently handles 7.9 million customers.

During the event
06:55 GMT
(press release)

Doha Bank, a leading private commercial bank in Qatar and GCC, has been named Retail Bank of the Year at the Inaugural Enterprise Agility Awards held recently in Doha.

Arab Bank
06:34 GMT
(press release)

Arab Bank Group reported net profit after tax and provisions for the nine months period ending 30 September 2014 of USD 614.2 million, up by 10% from USD 559.1 million in the same period last year.

Tooran Asif with the speaker
04:26 GMT
(press release)

Mashreq launched a ‘Partners Forum’ through its Mashreq @ Work team which aims to create a platform amongst professionals across several industries to meet and share best managerial practices.

October 23, 2014

Jamal Bin Ghalaita, Chief Executive Officer of Emirates Islamic
11:51 GMT

Emirates Islamic, one of the leading Islamic financial institutions in the region, announced today an 83 per cent increase in net profit for the YTD third quarter of 2014.

October 22, 2014

One-year dollar/Saudi riyal forwards jumped to 90.0 points, their highest level since a peak of 91.50 points hit in March 2011.
11:44 GMT

The dollar demand had pushed the Saudi riyal’s spot rate unusually far beyond its peg of 3.75 against the dollar.

Sharjah Islamic Bank
09:56 GMT
(press release)

Sharjah Islamic Bank announced its nine month of 2014 results with Net Profits reaching AED 295 million, compared to 221 million achieved in the same period last year, a 33.5% growth rate.

October 21, 2014

Those affected by Standard Chartered's exit have an annual sales turnover of between $1 million and $35 million, it added.
11:16 GMT

Standard Chartered has notified thousands of UAE small and medium enterprise customers it is closing their accounts as it responds to pressure from US regulators

NCB Capital
09:06 GMT
(press release)

NCB Capital believes the growing data segment and ongoing cost-cutting initiatives are the telecom sector’s near-term drivers while the attractive dividends yield of 4.3% is the sector’s key attraction.

ibq and Ritz-Carlton Teams at the event
06:02 GMT

International Bank of Qatar (ibq) sponsored the Pink Ribbon Zumbathon held at The Ritz-Carlton, Doha within the breast cancer awareness campaign on Sunday October 19, 2014.