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 16, 2013

Anil Kapur, Baha Kamal & Prrasad Katta
08:44 GMT
(press release)

Western Union Business Solutions and Kamal Exchange are celebrating a successful first year of operations in Jordan of Western Union Business Solutions’ cross-border business-to-business payment service for Small and Medium Enterprises.

Dubai Islamic Bank
07:13 GMT

Deutsche Bank and DIB announced the signing of a MoU which will allow DIB to utilise the Bank’s euro cross-border payment clearing solutions and its European trade expertise to facilitate letters of credit into Europe.

NCB Capital
05:42 GMT
(press release)

NCB Capital continues to believe that the banking sector offers a compelling investment opportunity due to a strong loan growth outlook, coupled with the bottoming out of NIMs contraction.

September 15, 2013

“Wall Street continues to focus on increasing its market share and expanding its presence across the UAE, said Sultan bin Kharsham.
09:49 GMT

Located inside the Jumeirah Post Office on Al Wasl Road, the new branch complements Wall Street’s ongoing efforts to strengthen its presence in high potential markets

September 12, 2013

As the economy has improved and various sectors such as retail, tourism and real estate have shown significant improvements, banks in the UAE, including Mashreq, have experienced 20 per cent growth in the first six months."
12:20 GMT

Banks in the country are in an upswing , with financial institutions posting a strong growth in their earnings during the first half of the year, a top official said.

Art by Thajba Najeeb
09:15 GMT
(press release)

Thajba Najeeb will offer a colourful and fascinating glimpse of the soul and splendor of Lahore.

Free Styler wows the visitors by performing soccer tricks at the UAB stand organised for the bank's alliance with FC Barcelona
05:50 GMT

United Arab Bank’s promotion at Mirdif City Centre has been in full swing this week attracting many Barca fans to their large activity area.

September 11, 2013

Qatar sent Egypt $3 billion in May of which it converted $1 billion into three-year bonds
13:03 GMT

Qatar agreed to convert a $2 billion deposit with Egypt’s central bank into bonds within a week, Youm 7 quoted central bank governor Hisham Ramez as saying.

Jadawel used the projected income to secure a $900 million syndicated loan from Barclays and other lenders in 2001.
13:02 GMT

According to the Financial Times, the businessman alleges that Barclays actions “amounted to . . . bribery”.

The winners
06:04 GMT
(press release)

Doha Bank, the leading private commercial bank in Qatar, recently hosted a quiz competition for members of its staff.

September 10, 2013

The bank will cut nearly 80 jobs at its bancassurance division and about 120 jobs at its credit card business, Reuters quoted one banking source familiar with the plan as saying.
14:17 GMT

.First Gulf Bank (FGB) is reportedly cutting around 10 per cent of its workforce as part of a restructuring, according to sources cited by Reuters

Saif Al Mansoori, Deputy Head, Group Marketing & Branding, Emirates NBD
12:45 GMT
(press release)

Emirates NBD, a leading bank in the region, revealed an extraordinary growth in its social media network and the positive impact on customer relations.

NCB Capital
06:36 GMT
(press release)

NCB Capital offers investors all the tools they need to make smarter stock market trading decisions that best suit their needs in the Saudi Stock Market.

September 9, 2013

US Secretary of State John Kerry said that there is “only a political solution to Syria’s war, not a military one”.
14:16 GMT

Analysts in Dubai said the nervousness over an imminent US attack on Syria seemed to have subsided following a statement on Sunday by Kerry.

United Arab Bank CEO Paul Trowbridge described the undisclosed deal as “priceless”.
13:10 GMT

The agreement with the Sharjah-based bank — who recently posted record half-year profits of Dh260 million, representing a 35 per cent year-on-year increase — follows similar Barcelona Middle East tie-ups with telecommunications firm Etisalat and Qatar Airways.