Banking & Finance

Featured Story:

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

October 13, 2014

In August, the capital market rose to the 9,000 points for the first time since 2008.
04:55 GMT

Discussing the trade behaviour, EGX noted that foreign and Arab investors were directed towards selling while Egyptian sought to buy

October 12, 2014

David Marshall, Senior Executive Officer, Emirates NBD AM
11:25 GMT
(press release)

Emirates NBD Asset Management announced today the launch of eight new funds under the Emirates NBD SICAV platform in Luxembourg.

The Mashreq Novo Credit Card
11:00 GMT
(press release)

Mashreq announced the launch of UAE’s first 3-in-1 Cinema Credit Card, the Mashreq Novo Credit Card, co-branded with Novo Cinemas (previously Grand Cinemas) and powered by never-before loyalty benefits.

October 9, 2014

HE Saeed RashidAl Yateem,Assistant Undersecretary of Resources and Budget Affairs at MoF
11:12 GMT
(press release)

The Ministry of Finance (MoF), in collaboration with the National Bank of Abu Dhabi (NBAD), will be launching a range of e-Dirham smart applications during GITEX Technology Week 2014.

The total of the loan package has surged to $6.45 billion.
04:55 GMT

In May of last year, the Central Bank of Turkey paid the country's final loan installment, freeing Ankara of IMF debts for the first time in 19 years.

October 8, 2014

He added that the central bank will reimburse that sum in case the Qatari government requests the money back.Egypt's net international reserves inched up to $16.8 billion in August, but are expected to decline if Egypt returns the two deposits.
15:20 GMT

Qatar backed Egypt with $7.5 billion in deposits during the presidency of the Muslim Brotherhood's Mohamed Morsi,

The two parties met in court for the first time this week for a hearing to discuss costs incurred in relation to the abandoned application, among other issues.
13:07 GMT

Goldman Sachs has been ordered to pay the Libyan Investment Authority (LIA) 200,000 pounds ($321,820) in legal costs as part of a lawsuit brought by the fund over $1 billion in trades that ended up worthless.

Karol Piotr Ozimski (second from the left), winner of NBAD MasterCard International Spend Campaign
09:14 GMT

The National Bank of Abu Dhabi (NBAD) presented a 2014 Mercedes- Benz GL-Class luxury car to Mr. Karol Piotr Ozimski, the winner of this year’s NBAD MasterCard International Spend Campaign.

Sharjah City Centre branch opening
07:22 GMT
(press release)

Mashreq announced the opening of its latest branch located in Sharjah City Center, offering Evening Banking experience to customers for the first time in Sharjah.

Al Hilal Bank
05:52 GMT
(press release)

Al Hilal Bank, the progressive Islamic bank, has announced that it has been selected as a World Economic Forum (WEF) Global Growth Company (GGC) for 2014.

Mr. Y. Sudhir Kumar Shetty, COO, Global Operations, UAE Exchange, addressing the HR professionals at the Smart Pay HR Summit 2014 in Dubai
05:33 GMT

UAE Exchange Smart Pay organised the HR Summit 2014 recently in Dubai.

Abu Dhabi Commercial Bank
05:22 GMT
(press release)

Abu Dhabi Commercial Bank (“ADCB”) has received the accolade of ‘Best Cash Management Bank in the UAE’ from Euromoney for the 2nd time in a row , the leading international finance magazine.

October 7, 2014

Yousuf Ozair receiving the EU delegation
12:20 GMT

Experts from the European Commission hailed Dubai Customs exerted efforts in the field of intellectual property rights protection, as well as the department’s progressive development of systems and programs geared toward combating the smuggling and trafficking of counterfeit products.

The workshop brought together bank executives, representatives of international organisations and research centres as well as senior scholars
07:16 GMT
(press release)

Abu Dhabi Islamic Bank convened a high-level workshop in the United Arab Emirates last week to discuss the current status of the Islamic finance industry and how innovation can sustain its rapid growth.

October 2, 2014

Emaar Properties is now worth less than it was before the sale of 15 per cent of EMG in the IPO.
15:46 GMT

The DFM looks particularly overbought as one of the best performing stock markets in the world, up 50 per cent year-to-date, and could well be heading for a fall.