Dubai Financial Chief Ousted Over Debt

Dubai has removed the high-profile governor of the Dubai International Financial Center as a political power struggle caused by the emirate's financial troubles continues to build. Financial Times - 21Nov 13:45GMT
Emirates NBD celebrates the launch of the bank's new brand identity

Emirates NBD today announced the launch of its new brand, a consistent identity for Emirates NBD's regional and international operations. Press Release - 21Nov 10:59GMT
Iran: Banking Reforms Essential

President Mahmoud Ahmadinejad said in Tabriz, East Azarbaijan province on Friday that government has drafted a banking reform bill which would be presented to Majlis once the legislative body finalizes debate on the target-oriented subsidies plan. Iran Daily - 21Nov 10:56GMT
New policy in compulsory motor insurance and cooperative health insurance stimulates Saudi market growth

Saudi Arabia's increasing insurance density is poised to be sustained this year with the introduction of a new policy in compulsory motor insurance and cooperative health insurance, according to Buruj Cooperative Insurance Co. Press Release - 21Nov 09:20GMT
Saad Group To Sell 19% Stake In Petra Diamonds

Saad Group has agreed to sell a 19 percent stake in Petra Diamonds Limited, a UK-based mining company focusing on diamond resources, for $100 million in a private placement. The Saudi Gazette - 21Nov 07:10GMT
BankMuscat rolls out card payment for municipal services in Dhofar

The electronic card payment facility introduced by BankMuscat for services offered by ministries and government agencies has reached Dhofar region with the Sultanate's leading bank signing an agreement with Dhofar Municipality to roll out the facility in all wilayats of Dhofar governorate. Oman Daily Observer - 21Nov 07:01GMT
ISX trading hits ID7.7 billion this week

The Iraqi Stock Exchange (ISX) this week traded over 4.7 billion shares worth 7.7 billion Iraqi dinars through 1868 transactions. Aswat Aliraq - 21Nov 06:46GMT
Al Tayer brings a pool of knowledge to DIFC

Ahmad Humaid Al Tayer (60), the newly appointed governor of Dubai International Financial Centre (DIFC) brings a large pool of knowledge and expertise to the region's largest financial hub. Gulf News - 21Nov 06:02GMT
Restructuring unlikely to affect ICD's strategy

The restructuring of the board of the Investment Corporation of Dubai (ICD) â€” the investment arm of the government â€” is not likely to result in any major change of business strategy for the organisation. Gulf News - 21Nov 05:57GMT
SHB Launches New Credit facility for its Customers

Saudi Hollandi Bank (SHB) launched for its customers a new credit facility that enables them to transfer the outstanding balances of all their credit cards issued by other banks to a Saudi Hollandi Bank credit card, provided that the Bank shall pay all the due amounts on the customer's credit cards to other banks. Press Release - 20Nov 12:09GMT

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The Toolbox

Radio

ING's Farah Foustok Discusses Bank's Regional Plans

Farah Foustok, CEO of ING Investment Management, talks about winning the Achievers Award from Emirates Women Magazine. Foustok also discusses her company's regional plans.
Dubai Eye - 19 Nov 2009

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Research

Commercial Bank of Kuwait (CBK)
EFG Hermes - 16 Nov 2009

EFG maintains its ST/LT REDUCE recommendation on CBK with a target price of KWD 0.77 representing a 22.22% downside potential to the current market price of KWD 0.99 (as of Nov 16, 2009). The bank is expected to record FY09 net loss FY09 of KWD 3.1 million, compared to net profit of KWD 100.7 million for FY08.

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Community Buzz

Stories in Financial Services

Most read stories by Community in the last 24 hrs

1	Mohammad Alters ICD, Dubal Boards
2	$1 Billion Solar Plant To Be Set Up In Jubail
3	Gulf Investment Corporation Lowered to 'BBB-/A-3'; Outlook Stable
4	Success of SAR-Denominated Bonds Reflects Increasing Demand For Debt Issues And Growing Saudi Capital Market
5	Al Masah Capital Limited Enters Regional Market
6	Cyprus realty fund eyes Oman market
7	Sovereign wealth fund: Crisis provides breathing space to rethink strategy
8	SHB Launches New Credit facility for its Customers
9	NBE, Banque Misr raise rates on certificates
10	Société Générale Group opens a wealth management office in Bahrain

Companies in Financial Services

Most viewed companies by Community in the last 24 hrs

Company Name	Country	Industry
Al Rajhi Bank	Saudi Arabia	Banking
National Commercial Bank	Saudi Arabia	Banking
Dubai Islamic Bank	UAE	Banking
Arab National Bank	Saudi Arabia	Banking
Abu Dhabi Investment Company	UAE	Asset Management
Abu Dhabi Investment Council	UAE	Investment Firms and Funds
Mashreq	UAE	Banking
First Gulf Bank	UAE	Banking
Abu Dhabi Investment Authority	UAE	Investment Firms and Funds
Investment Corporation of Dubai	UAE	Investment Firms and Funds

Projects

Most viewed projects by Community in the last 24 hrs

Project Name	Country	Sector
Takreer - Ruwais Refinery Expansion	UAE	Oil and Gas
ENEC - Nuclear Power Plant	UAE	Power and Water
Emirates Aluminium (EMAL) - Smelter Complex - Phase 1	UAE	Industry
SATORP - Jubail Refinery and Petrochemical Complex	Saudi Arabia	Oil and Gas
Dubai RTA - Dubai Metro	UAE	Infrastructure
Qatar Foundation - Sidra Medical and Research Center	Qatar	Real Estate
ADNOC/ConocoPhillips - Sour Gas Fields Development - Shah Field	UAE	Oil and Gas
SATORP- Jubail Refinery and Petrochemical Complex - Conversion Unit and Sulphur Package (Part 2)	Saudi Arabia	Oil and Gas
Abu Dhabi DOT - Abu Dhabi Metro	UAE	Infrastructure
Takreer - Ruwais Refinery Expansion - Offsites and Utilities Package	UAE	Oil and Gas

Blogs

Most read blogs by Community in the last 24 hrs

1	Animal Spirits Redux?
2	Dubai: The World’s First City to Have Free WiFi?
3	The Strange Relationship between the Oil Price and the Stock Market
4	Extreme facts brought out by the 2008 Great Recession: Continuously Updated
5	1970's all over again?

Calendar

	Entity	Event
01Nov	Organized by dmg world media	Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) (4 days from 01-04 Nov 2010)
04Oct	Organized by PennWell Corporation	POWER-GEN Middle East 2010 (3 days from 04-06 Oct 2010)
03Oct	Organized by Riyadh Exhibitions Company	Saudi Build 2010 (4 days from 03-06 Oct 2010)
07Jun	Organized by BME Global	WEPOWER 2010 (4 days from 07-10 Jun 2010)
25May	Organized by Al-Iktissad Wal-Aamal	Arab International Industrial Forum (4 days from 25-28 May 2010)
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Zawya Network

787 members in Fin. Services

Kuwait
Increasing Coverage
Kuwait's insurers have good reasons to look forward to 2010, with signs that the country's economy is gradually returning to form.

Qatar SE
Fierce Competition
While Qatar's economy is one of the most robust in the world, the Qatar Stock Exchange's ambitions to become the region's dominant trading hub face fierce competition.

Qatar
Diversifying With Bond Issue
If there is a country that does not need to borrow money it is Qatar. The financial crisis has barely dented the peninsula's economy , and the government receives billions of dollars of gas revenue every year - more than it can spend domestically.

Company Ranking

Ranked by Market Cap | No. of Employees | Total revenue

	Company	Country	Market Cap ($mil)
1	Saudi Printing and Packaging Company	Saudi Arabia	266
2	Nafais Holding Company	Kuwait	235
3	Suez Canal Company For Technology Settling	Egypt	233
4	Privatization Holding Company	Kuwait	222
5	National Leasing Holding	Qatar	190
» View Full List

Related Information

Zawya Funds Analytics

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Financial Services Companies (1806)

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EIU Forecast For Financial Services Sector

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