Banking & Finance

Featured Story:

 This time round, in contrast to previous bouts of weakness in the shekel in recent times, it looks as though the trend is here to stay for a while.
"The economy is slowing down sharply," Carmeli warns, "and when you combine this with the fact that Israel is part of the global picture, it's likely that the shekel will continue to weaken."

August 4, 2014

Interactive Intelligence founder and CEO Dr. Donald E. Brown
05:25 GMT
(press release)

Interactive Intelligence Group reported record attendance at its global INTERACTIONS 2014 customer and partner conference, which drew 2,200-plus attendees from 42 countries.

The conglomerate, in which sovereign fund Investment Corp of Dubai owns an 11.5 per cent stake, posted a net profit of Dhs805 million ($219.2 million).
04:55 GMT

Dubai Investments said on Sunday that its net profit for the first six months of the year more than doubled, on the back of gains from the divestment of one of its assets.

August 3, 2014

Investment Dar was one of several local financial firms which struggled to refinance debt in the aftermath of the global economic crisis.
18:57 GMT

Investment Dar has been embroiled in a long-running legal battle with Commercial Bank of Kuwait over a stake in Kuwaiti Islamic lender Boubyan Bank.

Foreign investors were net buyers of LE609.1 million worth of shares, however the Egyptians were net sellers with LE603.7 million.
13:50 GMT

Egypt's stocks hit a whopping rise on Thursday in the first trading following Eid Al-Fitr holiday, as the main index registered its highest increase in six years.

Burgan Bank
12:24 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.

Faisal Aqil, Deputy CEO - Consumer Wealth Management, Emirates Islamic
11:18 GMT
(press release)

Emirates Islamic launched an exclusive campaign in collaboration with MasterCard, to encourage debit card use by customers travelling abroad, with the chance for one lucky customer to win a Mercedes-Benz SLK200 roadster.

During the event
06:24 GMT
(press release)

Jordan Ahli Bank recently inaugurated its 55th branch in Irbid’s Industrial Zone.

During the event
05:55 GMT
(press release)

Al Hilal Bank, the progressive Islamic bank, once again celebrated Ramadan with a special campaign called ‘Jood Bil Khair’ (‘do good’) which eventually donated AED 1 million to over 10 charities across the UAE.

July 31, 2014

Exchange houses recorded a significant increase in remittances from the UAE during Ramadan as expatriates sent additional money to their home countries for Eid spending.
04:55 GMT

“There was an increasing trend of expatriates starting to save and send back more money from June onwards, to set the festive mood and bring smiles to their families and friends back home.”

July 30, 2014

The line provides reassurance about Morocco's economic policies to foreign lenders, investors and rating agencies, allowing it to tap international capital markets at favorable borrowing terms.
04:55 GMT

The International Monetary Fund said on Monday it will provide Morocco a $5 billion credit line to help the North African country pursue a reform agenda to achieve rapid and more inclusive economic growth.

July 29, 2014

Gulf International Bank
10:14 GMT
(press release)

Gulf International Bank B.S.C. (GIB) reported consolidated net income after tax of US$50.2 million for the six months ended 30th June 2014, compared to US $60.6 million in the prior year period. Net income after tax in the second quarter was US$21.1 million.

July 27, 2014

09:43 GMT
(press release)

The Chartered Institute of Management Accountants (CIMA) has announced several new opportunities for students and professionals across the GCC to acquire the globally certified qualification at special rates if enrolled before 31 July 2014.

During the event
05:52 GMT
(press release)

Gulf Bank is welcoming its third batch of eager young adults that will be undergoing a 5 week Internship Program via ‘Lothan Youth Achievement Center’ (LOYAC) which specializes in preparing youth in Kuwait to assume leadership roles in their future careers.

July 24, 2014

Emirates NBD profits were helped by revenue growth in Retail Banking & Wealth Management, along with the Islamic banking subsidiary, Emirates Islamic (File/AFP)
13:55 GMT

The UAE's largest bank, Emirates NBD, reported a net profit growth of 30 percent for the first half of the year.

KIPCO is Kuwait's largest privately owned investment company (Image: URC)
12:22 GMT

Kuwait's largest privately owned investment company said it was on track to meet the target of a double-digit rise in revenue this year.