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The move has been a long time coming. Saudi authorities have slowly unrolled a plan to liberalise the market spanning a decade, and pursued a long- term reform agenda.
September 22, 2014 - 04:55 GMT
reign investors are salivating at the prospect of investing in Saudi Arabia’s well developed but frontier market with a string of world-class companies that have remained largely out of the portfolio of global fund managers.

August 15, 2013

EastNets
08:01 GMT
(press release)

The EURO zone, group of 17 countries in the Europe using EURO as domestic currency has to complete the migration by February 2014.

August 14, 2013

The non-financial sector (NFS) saw issuance increase threefold in 1H13, jumping $6.7 billion to $10.1 billion, its highest level ever.
12:44 GMT

The stock of GCC bonds (both conventional and Sukuk) increased healthily during the first six months of the year. The private sector issuance maintained a strong pace and dominated the GCC’s fixed income activity.

MasterCard Executives at Ramadan Iftar in Intercontinental Amman
07:26 GMT
(press release)

MasterCard recently hosted an Iftar evening in Amman to celebrate the spirit of the Holy Month of Ramadan with its customer financial institutions and other key stakeholders in Jordan.

August 13, 2013

Established in 1999, Rainbow Hospitals is India’s largest specialised paediatric and maternity care company with four maternity, paediatric and neonatal intensive care units, and one outpatient clinic in Hyderabad.
13:55 GMT

Dubai-based private equity firm Abraaj Group on Tuesday said it has invested in Rainbow Hospitals, a 450-bed paediatric and maternity healthcare business based in the southern Indian state of Andhra Pradesh.

The bank's corporate banking, private banking and investment banking activities in the UAE are not part of the review, according to the sources.
13:17 GMT

Barclays is conducting a strategic review of its retail banking operations in the United Arab Emirates which could lead to a sale of the business, according to two sources familiar with the matter.

August 12, 2013

Burgan Bank
12:27 GMT
(press release)

Burgan Bank Group announced today its second quarter & first half results for the financial year 2013.

Michael Austin, NBAD’s Group Chief Information Officer
11:01 GMT

The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has appointed Michael Austin as the Bank’s Group Chief Information Officer.

The recent rush by UAE banks to lend at lower interest rates to corporate borrowers has been criticized as ‘irrational exuberance’.
10:17 GMT

After taking advantage of a recovery in UAE bond prices to replace expensive debts with low cost bonds the corporate sector has also been in a position to elbow down the interest rates charged by UAE banks on local borrowings.

August 7, 2013

With the exception of Bank Audi, which posted a 21.78 percent increase in net loans, the loan portfolios of Byblos, BLOM, Bank of Beirut and BEMO contracted respectively by 0.48 percent, 0.67 percent, 1.37 percent and 4.39 percent.
12:54 GMT

Declining consumer and business confidence will negatively impact the profitability of Lebanese banks in the second half of 2013.

Syria’s economy has been hurt by depletion of foreign reserves that were estimated at around $16 billion to $18 billion before the conflict.under an article in the bloc’s regulations on Syria, “the release of frozen funds or economic resources may be authorized when this is necessary for humanitarian purposes.”
12:22 GMT

Syria is trying to tap frozen funds in foreign bank accounts to step up purchases of food stocks including wheat, as civil war and a deepening humanitarian crisis push President Bashar Assad to seek new ways to feed his people.

Ahmed Al Marzouqi, General Manager, Retail Distribution, Emirates NBD
10:47 GMT
(press release)

Emirates NBD announced that Babul Hootha Abdul Vahab, who won the grand prize for the bank’s mega salary transfer campaign, would enjoy an all-expenses paid trip for two to the Seven Wonders of the World.

Mashreq's Ibn Battuta branch
08:20 GMT
(press release)

Taking the UAE’s first of its kind initiative closer to its customers; UAE’s leading financial institution Mashreq announced the expansion of its 3 E Cube retail concept to Ibn Battuta Mall branch.

August 6, 2013

The country has run through more than $20bn in reserves, borrowed billions from abroad and delayed payments to oil companies to support its currency since its popular uprising in early 2011 (Getty images).
11:36 GMT

The figure is the highest since November 2011, but it nonetheless shows that Egypt continues to bleed foreign currency to defend the Egyptian pound.

During the event
10:43 GMT
(press release)

Within a unique initiative set to draw smiles on orphan’s faces, Jordan Ahli Bank hosted for the first time a “Happy Day” Iftar banquet. Commemorating the festive spirit of the Holy Month.

ADIB's Exhibition - The Road from Jerusalem to Mecca and Medina
08:52 GMT
(press release)

After a successful run during Ramadan, ADIB is extending its unique historical exhibition through Eid Al Fitr.