Top Financial Services News

  • Businesses need to re-think risk, says ACCA


    Businesses need to work harder to spread responsibility for risk management across the whole organisation, according to a new report from ACCA (the Association of Chartered Certified Accountants). Press Release - 11Feb 12:36GMT
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  • Emirates Post Group acquires remaining 40 % shareholding in Wall Street Exchange Centre


    Emirates Post Group Holding has acquired the remaining 40 per cent shareholding in Wall Street Exchange Centre LLC, one of UAE's largest and oldest foreign exchange and money transfer companies, operating since 1982. Press Release - 11Feb 11:50GMT
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  • Muscat Finance Company unveils new identity


    The Sultanate's leading financial services provider, Muscat Finance Co. Ltd (SAOG) is pleased to officially unveil a significant change to its corporate identity, as part of celebrating 25 glorious years in Oman. Press Release - 11Feb 09:30GMT
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  • Eurozone risks to GCC mitigated: expert


    The Euro zone crisis poses clear risks to the Gulf countries but these risks had already been mitigated through various policy actions. Nonetheless, some areas of vulnerability remain - notably in the financial sector, says senior economist at the GCC States Department in the World Bank Dr Kevin Carey. Arab Times - 11Feb 07:49GMT
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  • Saudi public sector employees block customers' transactions


    Government employees fail to provide proper service to the public, reported Al-Riyadh newspaper on Sunday, quoting unsatisfied customers. They claim they have nowhere to turn to with their complaints. Arab News - 11Feb 07:41GMT
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  • Tadawul behavior not matching economic boom in KSA


    A Saudi expert specialized in stock market has called on the Ministry of Finance and the Saudi Arabian Monetary Agency (SAMA), in addition to the local commercial banks, to restore confidence to the local stock market in light of the decline of the market value which does not meet with the firm and strong status of the Saudi economy. The Saudi Gazette - 11Feb 07:35GMT
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  • Emirates NBD offers Mercedes auto loan


    Emirates NBD, a leading bank in the region, and Gargash Enterprises, the authorised distributor of Mercedes-Benz in Dubai launched a special offer on auto loans for select models of Mercedes Benz vehicles, to be availed through February 2012. Khaleej Times - 11Feb 07:32GMT
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  • GCC mutual fund assets decline 6% to $34 billion


    Mutual fund assets in the Gulf Cooperation Council, or GCC, shrank six per cent to $34 billion while global mutual fund assets grew 14 per cent to $25.9 trillion in the first half of 2011, results of survey show. Khaleej Times - 11Feb 07:32GMT
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  • Blominvest arranges a loan of SR290m to build 400 housing units in Riyadh


    Blominvest Saudi Arabia announced the closing of the private placement offering of "Blominvest - Maskan Arabia for Real Estate Development Fund" with a total of 283 million Riyals that is focused on building 400 housing units in north and north-west Riyadh in collaboration with Maskan Arabia, the project developer. Press Release - 10Feb 14:44GMT
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  • JD2.74 billion excess reserves at CBJ


    Excess reserves at the Central Bank of Jordan (CBJ) on Thursday stood at JD2.74 billion. Jordan News Agency - Petra - 10Feb 11:26GMT
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Andrew Scott, Professor of Economics at the London Business School, discusses European debt, recovery in the Middle East and Africa, and the global population issue.
 
 
 
 
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Oman
A new era in banking
The banking and finance industry will witness further growth with the stage being set for the launch of Islamic banking in the Sultanate.
 

 
Markets
BRIC vs MENA
A number of ME markets are trading at valuations below their BRIC counterparts, says NBK Capital. With a few potential catalysts such as an MSCI upgrade and Saudi opening up, there may even be hope for the unthinkable: a rally.
 

 
Regulatory
Dealing with mortgage default
UAE's economy has found itself exposed to unprecedented rates of mortgage default, but the country is determined to address them and has already done much in that regard, at least in the way of public discourse and a series of draft laws writes Ludmila Yamalova, Managing Partner of HPL Yamalova & Plewka JLT.
 
 
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| No. of Employees | Total revenue
  Company Country Market
Cap
($mil)
1 Saudi Basic Industries Corporation Saudi Arabia 76,590
2 Al Rajhi Bank Saudi Arabia 29,696
3 Qatar National Bank Qatar 26,267
4 Emirates Telecommunications Corporation UAE 20,341
5 Industries Qatar Qatar 20,254
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