Banking & Finance
June 25, 2013
“We salute UAE Government’s vision for the welfare of the employees in the UAE by implementing Wages Protection System (WPS).
France and Qatar launched a mixed Franco Qatari fund on Sunday to invest €300 million in small and medium sized French companies, in a bid to quash concerns raised by a previous Qatari plan to invest specifically in French suburbs.
NCB Capital has downgraded Sipchem and Sahara to Neutral while maintaining all other ratings, remaining Overweight on SABIC, SIIG, Yansab and APPC.
June 24, 2013
Emirates Islamic Bank announced today that it has been recognised as the Best Islamic Corporate Bank in the region, at the 2013 Banker Middle East Industry Awards.
A Kuwaiti sheikh is suing UBS AG for $21.4 million, alleging the Swiss bank failed to pay him for helping it become lead arranger on a $9 billion asset sale by the Kuwaiti telecommunications operator Zain, a Dubai court heard on Sunday.
Al Hilal Bank gave special attention to children this middle of ‘Shabaan’. the 15th day of the eighth month (Shabaan) of the Islamic lunar calendar, by observing the traditional Arabic practice of giving out Haq Al Lailah.
Standard Chartered, in partnership with VISA, celebrated the launch of the Standard Chartered VISA Infinite Credit Card.
Jordan Ahli Bank sponsored the Innovation Kitchen activity at Jordan’s second annual New Think Festival which was held on the 15th and 16th of June 2013 at Al Hussein National Park.
The Russian Direct Investment Fund (RDIF) and Mubadala Development Company (Mubadala), the Abu Dhabi-based investment and development company, have announced the launch of a $2 billion co-investment fund to pursue opportunities in Russia.
June 23, 2013
Egypt's central bank left its main overnight interest rates unchanged as expected on Thursday, as economic growth remains tepid more than two years after the uprising that ousted Hosni Mubarak.
First Gulf Bank (FGB) has signed an agreement to acquire Dubai First, the consumer financial services business, from Dubai Financial Group for AED 601 million in cash.
HSBC Bank Oman S.A.O.G. has recently rewarded lucky Mandoos Savings Scheme customers for the months of April and May.
One of the UAE’s leading financial institutions, Mashreq announced signing a Memorandum of Understanding with Emirates Group.
Doha Bank has been named the “Best Regional Commercial Bank in the Middle East 2013” at the Banker Middle East Industry Awards on 19th June 2013 at the Emirates Towers Hotel in Dubai, UAE.
NCB Capital believes that growth in the sector will remain driven by the broadband and corporate segments.