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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.

August 20, 2013

Emirates Islamic Bank
09:44 GMT
(press release)

Emirates Islamic Bank announced the successful completion of its foreign currency bank note exchange campaign.

August 19, 2013

09:29 GMT
(press release)

In line with its Corporate Social Responsibility, UAE’s leading financial institution Mashreq recently held initiatives to mark ‘Zayed Humanitarian Work Day’.

During the event
08:01 GMT
(press release)

HSBC Middle East have renewed their partnership for the second year in a row to empower 200 orphans and underprivileged youngsters.

August 18, 2013

The formal framework of the Central Bank’s policy remains unchanged with the exchange rate fixed at QAR 3.64/$1.
15:47 GMT

"The riyal's (QAR) peg to the dollar is the cornerstone of the country's monetary policy," The Peninsula newspaper reports the Qatar Central Bank (QCB) as stating.

Syrians will be able to buy dollars at 175 Syrian pounds, higher than the official rate but still cheaper than the black market – where the rate often reaches 200.
11:05 GMT

Syrian authorities have shut down a money exchange office in Damascus and made several arrests as a part of a campaign to curb illegal currency trading.

The TEPIX surpassed 60,000 on Saturday.
09:10 GMT

The total value of Iran’s capital market is half of the gross domestic product (GDP).

August 15, 2013

The stock exchange will resume trading next week, the exchange said.
11:15 GMT

Egypt's stock exchange and banks will not open [Thursday] following violence sweeping the country, a bourse statement and an official at the central bank said.

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.