banking and finance « 2/3 « | Kippreport.com

Five major Saudi banks post strong Q3 profits

Three major Saudi banks beat analyst forecasts; Rising profits due to lower costs, increased income; Banque Saudi Fransi, SABB Bank miss forecasts

October 13, 2011 10:32

Oman avoids “toxic” Europe but sticks with US debt

With its economy expecting 5 percent growth in 2011, Oman says it will keep investing in US Treasuries because “no one else is pulling out their investment”.

October 11, 2011 2:14

Lack of support leads to dead end for Islamic funds

Despite it outperforming conventional ones and accounting for 6 percent of a nearly $1 trillion industry, Islamic funds still have no support from institutional investors and as a result may stagnate this year.

October 3, 2011 1:47

Dubai’s Sheikh Ahmed: local banks have ample liquidity

As chairman of Dubai's Supreme Fiscal Committee, Sheikh Ahmed says that although local companies still haven't rebounded from the debt crunch, banks have sufficient liquidity to weather a second downturn.

October 3, 2011 1:43

Brace yourselves: GCC prepares for the worst

Analysts say the GCC's financial systems are stronger than they were during the first economic crash. But can it withstand a second wave of crisis?

September 28, 2011 3:43

Man Group, Dubai bank ENBD in sharia fund tie-up

Emirates NBD's asset management arm and Man Group have announced a tie-up which will see the hedge fund firm manage one of the lender's sharia-compliant funds, the companies said on Tuesday.

September 27, 2011 4:10

UAE says banks taken steps to deal with euro debt crisis

Dubai not worried about global recession; Minister of Economy reiterates 2011 GDP growth forecast of 3-3.5 percent; Dubai five-year CDS highest since November 2010

September 27, 2011 12:52

Bahrain plans $1B sovereign Islamic bond

Gulf Arab state Bahrain is planning to issue a $1 billion sovereign Islamic bond and has mandated three banks for the proposed sale, banking sources said.

September 27, 2011 11:14

Abu Dhabi’s UNB may raise debt to repay $1B loan

UNB roadshows in Asia and Europe this week as its $1 billion loan matures in end of this year. Bank plans to open a branch in Kuwait this year.

September 26, 2011 2:31

Kuwait government passes anti-corruption draft law

Kuwait's cabinet passed an anti-corruption draft law on Sunday, which includes articles on financial disclosure and money laundering, with penalties of up to seven years in prison, the state news agency KUNA reported.

September 26, 2011 2:19

European bank rescues risky terrain for Gulf SWFs

Gulf sovereign wealth funds may be tempted to make a quick injection into failing European banks but Una Galani hopes they’ve learned from their mistakes in 2007.

September 24, 2011 5:39

Egypt discussing finance package with Saudi, UAE

Egypt is discussing financial packages for budgetary and other support with Saudi Arabia and the UAE that could exceed a total of $5 billion based on figures initially proposed, the Egyptian finance minister said on Monday.

September 19, 2011 11:12

Top global banks cut MENA research roles

Banks are cost-cutting as investment banking slows. Nomura shuts its MENA research department in Dubai and local offices of Credit Suisse and Deutsche Bank slash top MENA research jobs -sources.

September 19, 2011 10:43

Kuwait’s Global seeks new debt deal from creditors

Creditor committee set up for new restructuring talks; Evercore Partners to advise Global - source; Only $200 million of $1.7 billion repaid so far - source

September 18, 2011 10:36

Islamic Finance: worth banking on?

The $1 trillion Islamic finance industry has faced some challenges with financial distress becoming the norm. Can Islamic financial institutions be any more ethical, asks E. Shahid.

September 3, 2011 4:12