Banking & Finance

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 This time round, in contrast to previous bouts of weakness in the shekel in recent times, it looks as though the trend is here to stay for a while.
September 17, 2014 - 05:55 GMT
"The economy is slowing down sharply," Carmeli warns, "and when you combine this with the fact that Israel is part of the global picture, it's likely that the shekel will continue to weaken."

July 14, 2014

First Gulf Bank
09:20 GMT
(press release)

As part of its strategic expansion plan, FGB, one of the leading banks in the UAE, has set up a new representative office in Seoul, South Korea.

The Statistical Center of Iran put the inflation rate of the country's rural areas in the 12-month period to the third Iranian calendar month (ended on June 21) at 28.3 percent.
04:55 GMT

"Containing inflation is the main economic priority of the government," he said.

July 13, 2014

Saleem Khokhar, the Head of Equities at NBAD’s Asset Management Group receives the award from MENA Asset Management Conference and Awards representative
11:10 GMT

The National Bank of Abu Dhabi’s (NBAD) MENA Dividend Leader Fund has been voted Newcomer Fund of the Year 2013 by Zawya at the MENA Asset Management Conference and Awards 2014.

Faisal Aqil, Deputy CEO - Consumer Wealth Management, Emirates Islamic
10:11 GMT
(press release)

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced the launch of its special exchange rate offer spanning a selected range of currencies, for the summer travel season.

July 10, 2014

Head of Retail & Head of Payments at Mashreq
09:29 GMT
(press release)

Leading financial institution, Mashreq won the awards for The Best Debit Card and The Best mPayment Innovation at the annual Smart Card & Payments Awards, Middle East 2014, held recently in Dubai.

July 9, 2014

During the event
09:15 GMT
(press release)

Sharjah Islamic Bank is continuing to distribute Iftar meal packages at its annual Iftar tent located on King Faisal Mosque Square in Sharjah.

Mr. Hisham Al Rayes, Dr. Ahmed AlMutawa, Mr. Mohammed Al Habbai
08:49 GMT
(press release)

Gulf Finance House (GFH), announced that it has signed a land sale agreement with Dubai Properties Group (DPG) to establish a new mixed-use residential development in its DUBAILAND district.

July 8, 2014

The stock market is also down, with the Tel Aviv 25 Index currently off 0.58%.
19:43 GMT

The shekel has weakened against the dollar this morning, as the security situation in the south of Israel escalated overnight.

Dr. Yahya Alyahya, GIB CEO
11:59 GMT
(press release)

Gulf International Bank B.S.C. (GIB) has announced the launch of its trial phase for retail banking services to customers in the Kingdom of Saudi Arabia (KSA) under the brand name, ‘meem م’.

Adam did not expect additional financial assistance from Gulf countries in the next period.
04:55 GMT

Foreign reserves are now the lowest since the ouster of former president Mohamed Morsi in July 2013.

July 7, 2014

Dubai’s real estate market may also be overheating, as the country’s central bank issued a warning on the soaring property prices.
11:49 GMT

Gulf markets ended their worst quarter in many years, as almost all indices in the region ended the month on a negative note.

Shayne Nelson, Group CEO Emirates NBD
10:09 GMT
(press release)

Emirates NBD, the leading banking group in the region, has announced that its Investment Bank is ranked as the leading arranger of USD Sukuk globally.

The International Finance Corporation
10:05 GMT

ACWA Power today announced the signing of the subscription agreement by International Financial Corporation (IFC), a member of the World Bank Group.

Abdul-Aziz Al-Ghurair, CEO of Mashreq Bank
09:44 GMT
(press release)

Mashreq announced that its Internal Audit function had been assessed to be in “Conformance” with The IIA’s International Standards for the Professional Practice of Internal Auditing.

The tax on other alcoholic beverages, such as wine and spirits manufactured locally or imported from abroad, has been increased by 150%.
02:06 GMT

The resolution replaces old amendments to the Sales Tax Act, which were not implemented and were postponed after facing broad popular opposition.