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.

September 30, 2013

Mark Watts, General Manager, Head and CIO of NBAD’s Asset Management Group
09:46 GMT

The National Bank of Abu Dhabi’s Cautious Income Fund will pay to its investors a semi-annual distribution equal to 3.34% of the unit net asset value of US$5.3256 being the NAV as on September 26th, 2013.

Rohit Garg, Head of Business Banking, Mashreq
09:28 GMT

Mashreq has extended its full fledged support to the 4th Annual Middle East SME Forum 2013.

The Global Islamic Economy Summit will initiate a critical dialogue on the development of the integrated sectors covering Islamic financial services, Halal manufacturing and related lifestyle sectors (Photo credit: Shutter Stock).
08:57 GMT

According to Howarth, over the next 30 years, 70 per cent of global population growth will be in Muslim countries as the Muslim population of 1.6 billion is growing at twice the rate of the global population thus representing the fastest growing consumer segment in the world.

NCB Capital
05:41 GMT
(press release)

NCB Capital, the GCC’s leading wealth manager and the Kingdom’s largest asset manager, believes that growth in the sector will remain driven by the broadband and corporate segments.

September 29, 2013

“It (debt) will not restrain business in the region as debts are a part of a business, but it will definitely affect the confidence of the firms,” said Belindo.
15:29 GMT

In a recent report, the International Monetary Fund estimated that Dubai’s total debt stands at $142 billion, or around 102 per cent of its GDP, with $35 billion of that amount in government and government-guaranteed debt.

Al Marzouqi with Al Marri at the signing ceremony
12:50 GMT
(press release)

Emirates NBD announced the renewal of its partnership agreement with Mohammed Bin Rashid Housing Establishment for the third year running.

Emirates Islamic Bank hosts children’s day out
12:17 GMT
(press release)

Emirates Islamic Bank hosted a special “Back to School” day out for orphans and children from low income families in Dubai.

“Remittances are key for expats in the UAE. A lot of them come here to support families back home,” said one commercial banker.
05:30 GMT

The UAE is considering whether to impose a tax on the billions of dollars which foreign guest workers send back to their home countries every year, government and banking sources said.

September 26, 2013

David Marshall, Senior Executive Officer, Emirates NBD Asset Management
12:08 GMT
(press release)

Emirates NBD Asset Management announced that it has been named "Best Asset Management Company," at the annual Arab Achievement Awards 2013.

"We have pretty much the same strategy for the next financial year as this year. It's going to be a diversified structure," Brian Jeffery, senior vice president for corporate treasury at Emirates said in an interview.
10:20 GMT

The airline company has to raise $22 billion over the next four years to finance its aircraft deliveries, an average of $5.5 billion a year.

September 25, 2013

H.H. Sheikh Hamed bin Zayed Al Nahyan, Chairman of Abu Dhabi Crown Prince's Court presents the award to H.E. Nasser Ahmed Khalifa Alsowaidi, the Chairman of the NBAD Board
13:01 GMT

The National Bank of Abu Dhabi (NBAD), has won the highly prestigious Sheikh Khalifa Excellence Award- Diamond Category confirming the Bank’s position as a leader in the financial industry.

Raja Easa Al Gurg, President, DBWC, and Ann Cairns, President, International Markets, MasterCard announcing partnership
11:24 GMT
(press release)

MasterCard and the Dubai Business Women Council announced a collaboration to drive entrepreneurship among women in the Emirate.

 The debt comprises $10 billion from the UAE Central Bank, which is due to mature in February 2014 and $5 billion each from two state-owned banks in Abu Dhabi — National Bank of Abu Dhabi and Al Hilal Bank — maturing in November 2014.
10:44 GMT

Dubai is not in negotiations with Abu Dhabi to refinance a $20 billion debt that will be due next year, a top government official said on Tuesday.

Standard Chartered Bank
10:07 GMT
(press release)

Stanford Asia Holding Company (“SAHC”) is pleased to announce the signing of a USD 300 million 5 year syndicated facility.

September 24, 2013

The UAE is among those economies most rapidly moving away from being predominantly cash-based society.
14:05 GMT

UAE is among the faster changing payments ecosystems.