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Oman’s bank Muscat second quarter profit up 19 percent

Q2 net profit 35 million rials, beats estimates; H1 profit 68.4 million rials; Impairments for H1 down slightly, at 25 mln rials

July 16, 2012 4:54

UAE: any inclusion of Yuan in reserves is long-term issue

Any decision by the United Arab Emirates to include the Chinese yuan into the UAE central bank's official foreign currency reserves would be the result of a long-term process, the bank's head said on Friday.

March 24, 2012 3:46

NCB Capital cuts Saudi Investment Bank, Arab National Bank

Saudi banks with significant exposure to the corporate sector may see their net interest margins shrink as competition increases, NCB Capital said, downgrading Saudi Investment Bank and Arab National Bank to "neutral" from "overweight."

March 14, 2012 1:59

French BNP Paribas to grow MidEast revenues

French lender BNP Paribas expects to grow its revenues from the oil-rich Gulf region this year despite a slight impact on its business as a result of the Arab Spring, the bank's Middle East head told Reuters in an interview on Tuesday.

March 14, 2012 1:35

UAE lender Emirates NBD plans 15 percent staff cut

Emirates NBD, Dubai's largest bank which has been grappling with impairments, plans to lay off up to 15 percent of its workforce, three sources familiar with the matter said on Monday.

March 13, 2012 2:22

The game plan: Ananda Krishnan back on the spotlight

Over nearly two decades, Malaysia's second-richest man Ananda Krishnan has quietly initiated a number of deals that have left observers perplexed but earned him a reputation of being an impeccable timer of markets.

March 7, 2012 2:59

Fitch assigns Qatar-based Doha Bank’s EMTN programme ‘A’ rating

Fitch Ratings has assigned Doha Bank Q.S.C.'s (Doha Bank) $2 billion euro medium-term note (EMTN) programme a Long-term senior unsecured debt rating of 'A' and a Short-term senior unsecured debt rating of 'F1'.

March 6, 2012 10:52

Japan’s Nomura sets up Middle East FX team

Japanese investment bank Nomura is setting up a foreign exchange trading team in Dubai to meet growing demand among its institutional clients to trade Middle East and North African currencies, the bank said on Monday.

March 5, 2012 1:28

UAE’s First Gulf Bank plans to double paid-up capital

First Gulf Bank, the second-largest bank by market capitalisation in Abu Dhabi, approved plans to double its paid-up capital through a bonus share issue, the bank said in a statement on Thursday.

March 1, 2012 1:57

US targets Dubai Bank over Iran sanctions

Dubai-based Noor Islamic Bank has been forced by the United States to cut off its banking business with Iran as part of wider US efforts to pressure Tehran over its nuclear programme.

February 29, 2012 1:34

Dubai’s Noor Islamic ended business with Iran banks in Dec

Dubai's Noor Islamic Bank ended business relationships with Iranian banks in December last year as a pre-emptive action in relation to US sanctions, Noor said in an email on Wednesday.

February 29, 2012 1:18

Nomura gets Saudi nod to offer stock market access

Japanese bank Nomura has gotten regulatory approval to offer foreign investors access to Saudi Arabia's stock market, joining a growing list of banks beefing up their presence ahead of anticipated market liberalisation.

February 27, 2012 1:15

Abu Dhabi fund eyes sale of $1.3B Malaysia Bank stake

An Abu Dhabi sovereign wealth fund is exploring the sale of its $1.3 billion stake in Malaysian lender RHB Capital Bhd six months after buying the shares, sources familiar with the matter told Reuters, and has engaged in early talks with Japan's Sumitomo Mitsui Banking Corp (SMBC).

February 14, 2012 2:21

Sanctions weigh on Lebanon-Syria banking ties

Banks in Lebanon are quietly implementing US and EU sanctions to avoid jeopardising international business. As a result, some Syrian money may be flowing to Russia or UAE.

February 11, 2012 7:08

Egypt’s EFG-Hermes drops 5.7 percent after CEO travel ban

Shares in EFG-Hermes , Egypt's biggest investment bank, plunged 5.7 percent at the opening of the market on Monday and trading was suspended after its chief executive Yasser el Mallawany (image above) was banned from leaving Egypt.

February 6, 2012 2:35