Banking & Finance

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Banks all over the world are being excessively cautious as regulators have been imposing huge fines that hit their bottom line.
October 29, 2014 - 04:55 GMT
One of the biggest problems facing small and medium enterprises starting a business in Dubai these days is opening a local bank account.

August 24, 2014

Five more luxury sedans to be won under bank’s annual savings promotion
06:12 GMT
(press release)

Al Hilal Bank awarded the first of six 2015 Audi A8 luxury sedans it is giving away for free to its patrons under its annual Savings Promotion which runs from July 15, 2014 to January 15, 2015.

A new schedule will be prepared for paying outstanding dues to foreign partners in the petroleum sector,
04:55 GMT

The government is the reason behind the continued inability of the petroleum sector to repay dues to foreign partners in return for oil and gas received monthly, said an official at the Ministry of Petroleum

August 21, 2014

 In November 2008 Bank Sarasin made margin calls which the claimants did not meet. Bank Sarasin closed out the investments; with the consequence that the Khorafis suffered substantial losses.
23:28 GMT

The case dates back to 2007 and early 2008, when on the introduction of Sarasin-Alpen, the Khorafis purchased structured financial products from Bank Sarasin.

Saleem Khokhar, the Head of Equities at NBAD’s Asset Management Group
11:10 GMT

The National Bank of Abu Dhabi (NBAD) distributed 2.40% dividend to NBAD MENA Income and Growth Fund investors with the option to reinvest the dividend in lieu of a cash payout.

August 20, 2014

This new service gives customers the ability to withdraw cash and send money to their friends, family or anyone in the UAE instantly using their mobile phone, even if the recipient does not have a bank account.
20:23 GMT

This new service gives customers the ability to withdraw cash and send money to their friends, family or anyone in the UAE instantly using their mobile phone, even if the recipient does not have a bank account.

Standard Chartered Bank
13:54 GMT
(press release)

Standard Chartered Private Equity announced the acquisition of a minority stake in Topaz Energy and Marine, one of the world’s leading offshore support vessel operators, through an equity investment of US$ 75 million.

August 19, 2014

FGB's new Head of Corporate Finance Advisory, Michael Aissaoui
11:44 GMT
(press release)

FGB, one of the leading banks in the UAE, has announced the appointment of corporate finance specialist, Michael Aissaoui.

Shayne Nelson, Group CEO, Emirates NBD
10:31 GMT
(press release)

Emirates NBD, a leading bank in the region, was honoured at the Global Brand Excellence Awards 2014 with five coveted awards across branding, marketing and customer experience categories.

Qamber Al Mulla, the Senior Managing Director & CEO of Gulf & International of NBAD
06:16 GMT

The National Bank of Abu Dhabi (NBAD) has renamed its wholly-owned subsidiary in the Americas to NBAD Americas N.V.

“Petrochemicals stocks are very promising - SABIC is probably the cheapest global petrochemical producer and I expect it will be one of the first stocks to be allowed direct foreign ownership,” said Chawdhry.
01:04 GMT

The Saudi Tadawul All Share Index rose 0.48 percent to close at 10,639.04 points, its highest finish since January 2008 and its 13th gain in the 15 sessions since authorities announced plans to allow direct foreign ownership of shares early next year.

August 18, 2014

Best Commercial Bank in the Middle East 2014 certificate
10:46 GMT
(press release)

Doha Bank, the leading private commercial bank in Qatar, has been voted as the ‘Best Commercial Bank in the Middle East 2014’ by the Global Banking and Finance Review Awards.

During the event
08:58 GMT
(press release)

Jordan Ahli Bank's SME Academy Unit held a new training workshop on the principles of effective communication in the workplace, which took place at the Sheraton Hotel under the guidance of certified instructor Sereen Abu Maizar.

But taking into account the depreciation of the Syrian pound against the U.S. dollar, the results show a steeper decline of nearly 77 percent.
04:55 GMT

The combined net profits of six out of seven Lebanese banks operating in Syria dropped 54 percent in the first half of 2014.

August 17, 2014

Caetano Fernandes, Senior Vice President and Head of Mashreq Gold, Mashreq
10:11 GMT
(press release)

Mashreq, one of the UAE’s leading financial institutions, announced yet another innovative solution to provide unprecedented benefits to its customers.

The winners
09:16 GMT
(press release)

Jordan Ahli Bank recently announced and congratulated Ms. Joel Raed Ezzat Taama the winner of the Goushan Al Omor Dream Villa in Greenland.