http://www.zawya.com/financial_servicesen-usCopyright 2009 ABQ Zawya Ltd. All rights reserved.Mon, 09 Nov 2009 03:48:00 GMT5014476http://www.zawya.com/financial_serviceshttp://www.zawya.com/images/newsletter_zawya_logo.gifhttp://www.zawya.com/story.cfm/sidZAWYA20091109034857Credit bureaus based in the UAE, Bahrain, Oman and Pakistan on Sunday joined forces to set up the Middle East's first credit reporting association, an initiative that is expected to pave way to the formation of a unified credit bureau encompassing all countries ?of the region.Mon, 09 Nov 2009 04:44:39 GMTKhaleej Times ZAWYA20091109034857Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108131853Abu Dhabi Finance, the Emirate's fastest growing home finance provider, today established an agreement with RAK Properties to offer mortgages for all units in RAK Tower.Sun, 08 Nov 2009 13:26:24 GMTPress Release ZAWYA20091108131853Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108110316Pioneers Holding announcing that the Board of Director has approved the merger between the company and Beltone Financial Holding.Sun, 08 Nov 2009 11:04:54 GMTPress Release ZAWYA20091108110316Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108032517Ahli Bank's Long Term Default Rating has been affirmed as 'A-' with a Stable Outlook in a report published by the rating agency Fitch.Sun, 08 Nov 2009 06:42:53 GMTThe Peninsula ZAWYA20091108032517Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108032626line with its expansion plan to cover strategic locations around Oman, AhliBank, one of the fastest growing banks in the Sultanate, yesterday announced the start of the operations of its new branch in Al Khuwair.Sun, 08 Nov 2009 06:41:39 GMTOman Daily Observer ZAWYA20091108032626Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108042402The Bank, Insurance and Public Firms deputy of the Iranian Ministry of Economy and Finance said that the reason behind the sanction of the Malaysian branch bank were baseless.Sun, 08 Nov 2009 06:08:55 GMTTehran Times ZAWYA20091108042402Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108052217Renowned global law firm K&L Gates LLP recently established its 33rd office worldwide - and the firm's first in the Middle East - following the granting of a licence to operate in the Dubai International Financial Centre (DIFC).Sun, 08 Nov 2009 06:03:46 GMTPress Release ZAWYA20091108052217Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108042741The director of Al-Ahsa Province's Credit and Saving Bank Abdulaziz Bin Hamad Al-Kharra'a said the bank is now suffering from a lack of liquidity which has led to 8,500 citizens who completed and submitted the required documents being put on a waiting list for a loan.Sun, 08 Nov 2009 06:01:23 GMTThe Saudi Gazette ZAWYA20091108042741Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108043157The UAE banking sector is treading its way to solid growth, banking indicators from the central bank and other government and private financial agencies show.Sun, 08 Nov 2009 06:00:25 GMTEmirates Business 24/7 ZAWYA20091108043157Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108045930The UAE insurance sector is safe from money-laundering and does not have any dubious funds used to finance terrorist or criminal activities, the country's Insurance Authority (IA) has said.Sun, 08 Nov 2009 05:45:17 GMTEmirates Business 24/7 ZAWYA20091108045930Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108050306Nine-month provisions for 19 banks listed on UAE stock exchanges were up more than 178 per cent year-on-year while net profits fell 13.7 per cent at the end of the third quarter, Emirates Business research reveals.Sun, 08 Nov 2009 05:41:17 GMTEmirates Business 24/7 ZAWYA20091108050306Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108050339Kuwait China Investment Company (KCIC), which is engaged in providing advisory and asset management services to investors, is listing its shares on Kuwait Stock Exchange this month and waiting final date to kick start trading in the stock.Sun, 08 Nov 2009 05:40:33 GMTEmirates Business 24/7 ZAWYA20091108050339Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108051046UAE stock markets are expected to face a period of confusion and lack of clear direction amid dwindling volumes, said analysts.Sun, 08 Nov 2009 05:37:21 GMTEmirates Business 24/7 ZAWYA20091108051046Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108043846The debt market in Gulf oil producers rebounded by a staggering 64 per cent in the first nine months of 2009 and the UAE emerged as the leader in the issuance of conventional bonds, according to a Saudi investment fund.Sun, 08 Nov 2009 04:47:21 GMTEmirates Business 24/7 ZAWYA20091108043846Openhttp://www.zawya.com/story.cfm/sidZAWYA20091108042904Accountants investigating the affairs of Maan al Sanea, the Kuwait-born entrepreneur involved in the Middle East's biggest corporate scandal, have unearthed more than US$6.2 billion (Dh22.77bn) of assets in his Cayman Islands holding company.Sun, 08 Nov 2009 04:31:55 GMTThe National ZAWYA20091108042904Openhttp://www.zawya.com/story.cfm/sidZAWYA20091107034805Brokerage HC Securities has raised its 2009 and 2010 earnings estimates for Union National Bank, citing its better-than-expected performance in the third quarter, and expectations of lower provisions for losses in 2010. Sat, 07 Nov 2009 09:09:57 GMTKhaleej Times ZAWYA20091107034805Openhttp://www.zawya.com/story.cfm/sidZAWYA20091107041232S1, a leading global provider of financial services and payments software solutions, announced on Wednesday its selection by Saudi Hollandi Bank (SHB) to provide a new integrated payments platform to support the bank's ATM network and card management operations across Saudi Arabia.Sat, 07 Nov 2009 08:50:16 GMTThe Saudi Gazette ZAWYA20091107041232Openhttp://www.zawya.com/story.cfm/sidZAWYA20091107043610Commercial Banks credits stood at RO 9645.48 million during the first six month of 2009, against RO 7985.75 million during the same duration of 2008, constituting a 20.79 per cent, rise. Sat, 07 Nov 2009 08:34:56 GMTOman Daily Observer ZAWYA20091107043610Openhttp://www.zawya.com/story.cfm/sidZAWYA20091107045450 Local banks are still treading with caution in disbursing loans despite the massive financial backup the state has provided to help them ride over any possible impact of the global financial crisis. Sat, 07 Nov 2009 08:31:36 GMTThe Peninsula ZAWYA20091107045450Openhttp://www.zawya.com/story.cfm/sidZAWYA20091107053342The Iraqi Stock Exchange (ISX) this week traded over 5.2 billion shares worth more than 9 billion Iraqi dinars ($7.8 million), of which 27% went to non-Iraqi investors, as the national capital market's index closing at 111.78 points compared to last week's 109.08.Sat, 07 Nov 2009 08:15:45 GMTAswat Aliraq ZAWYA20091107053342Openhttp://www.zawya.com/story.cfm/sidANA20091106T124013ZKIC99 Royal Bank of Scotland reported a net quarterly loss of 1.8 billion pounds on Friday and said it expected a slow recovery, despite massive state support.Fri, 06 Nov 2009 13:19:46 GMTAFP ANA20091106T124013ZKIC99Openhttp://www.zawya.com/story.cfm/sidANA20091106T112820ZKHV01 Europe's main stock markets diverged slightly on Friday ahead of the release of crucial US employment figures and as traders assessed more earnings reports.Fri, 06 Nov 2009 13:13:56 GMTAFP ANA20091106T112820ZKHV01Openhttp://www.zawya.com/story.cfm/sidANA20091106T110413ZKHR91A rally on Wall Street helped Asian markets rebound at the end of a volatile week on Friday but many dealers remained cautious ahead of key jobs figures in the world's biggest economy.Fri, 06 Nov 2009 13:08:51 GMTAFP ANA20091106T110413ZKHR91Openhttp://www.zawya.com/story.cfm/sidANA20091106T082844ZKHC15 Europe's main stock markets traded mixed at the open on Friday.Fri, 06 Nov 2009 08:50:10 GMTAFP ANA20091106T082844ZKHC15Openhttp://www.zawya.com/story.cfm/sidZAWYA20091106073258 al khaliji announced that its recently launched capital guaranteed gold deposit has been over-subscribed. Fri, 06 Nov 2009 08:42:43 GMTThe Peninsula ZAWYA20091106073258Openhttp://www.zawya.com/story.cfm/sidGN_05112009_041132.txtThe Dubai Gold and Commodities Exchange (DGCX) yesterday announced that 1,142,814 contracts, valued at $58 billion (Dh213 billion) have been traded in 2009 as of November 2. Fri, 06 Nov 2009 06:50:44 GMTGulf News GN_05112009_041132.txtOpenhttp://www.zawya.com/story.cfm/sidZAWYA20091105031044Eight Western Union centers in Riyadh have been shut after the money transfer services provider terminated its contract with a local partner, threatening jobs.Thu, 05 Nov 2009 09:48:26 GMTArab News ZAWYA20091105031044Openhttp://www.zawya.com/story.cfm/sidZAWYA20091105073942Chief Executive Officer of the National Bank of Kuwait (NBK) Ibrahim S. Dabdoub said the slump of the asset value affects negatively the capital market and brings pressures on the loan portfolios of local banks.Thu, 05 Nov 2009 07:56:01 GMTKUNA (Kuwait News Agency) ZAWYA20091105073942Openhttp://www.zawya.com/story.cfm/sidZAWYA20091105064008The spokesman of the Ministry of Commerce stated that the second Iranian bank named "Eftekhar" (honor) will be inaugurated in Belarus in November.Thu, 05 Nov 2009 07:37:14 GMTTehran Times ZAWYA20091105064008Openhttp://www.zawya.com/story.cfm/sidZAWYA20091105040018The value of holdings of Investment Corporation of Dubai (ICD), the investment arm of the emirate, has substantially increased during the year to reach about Dh72 billion when computed on October 27 trading price of the listed companies in the portfolio.Thu, 05 Nov 2009 06:21:06 GMTEmirates Business 24/7 ZAWYA20091105040018Openhttp://www.zawya.com/story.cfm/sidZAWYA20091105045031Shuaa Capital is planning to sell its shareholdings in a number of associates, according to a company document. The CEO of the firm, Sameer Al Ansari, has stated that Shuaa has appointed Bain & Company, a global business consulting firm, to help formulate future strategy.Thu, 05 Nov 2009 04:53:31 GMTEmirates Business 24/7 ZAWYA20091105045031Openhttp://www.zawya.com/story.cfm/sid20091104_12728_222Moody's downgraded five Dubai government-related issuers, citing the tigher conditions under which the government is likely to extend financial support.Wed, 04 Nov 2009 10:36:57 GMTFinancial Times 20091104_12728_222Openhttp://www.zawya.com/story.cfm/sidZAWYA20091104095833Dubai Gold & Commodities Exchange today announced that 1,142,814 contracts, valued at US$ 58 billion, have been traded in 2009 as at November 2nd. This is a record volume for the exchange and surpasses the total volume of 1,142,293 contracts transacted in 2008.Wed, 04 Nov 2009 10:35:25 GMTPress Release ZAWYA20091104095833Openhttp://www.zawya.com/story.cfm/sidZAWYA20091104032429The Qatar Financial Centre Regulatory Authority (QFCRA) is publishing a new online Insurance Guide which sets out to provide prospective applicant insurance firms with a detailed understanding of the Regulatory Authority's requirements and an introduction to the Authority's various rulebooks.Wed, 04 Nov 2009 08:05:22 GMTThe Peninsula ZAWYA20091104032429Openhttp://www.zawya.com/story.cfm/sidZAWYA20091104042518Insurance companies in the Middle East that opt for automated underwriting have the potential to increase their profitability by 20 per cent to 30 per cent, a recent report has said.Wed, 04 Nov 2009 07:01:16 GMTEmirates Business 24/7 ZAWYA20091104042518Openhttp://www.zawya.com/story.cfm/sidZAWYA20091104044514Gulf International Bank (GIB) has announced its debut of Saudi riyal bond issuance through its Riyadh branch. The bank has mandated GIB Financial Services and HSBC as joint lead arrangers and book runners for the bond transaction.Wed, 04 Nov 2009 06:53:42 GMTThe Saudi Gazette ZAWYA20091104044514Openhttp://www.zawya.com/story.cfm/sidZAWYA20091104041444Banks in the UAE will begin November 14 onwards clearing cheques on the same day that their customers deposit them, the Central Bank said.Wed, 04 Nov 2009 06:51:09 GMTKhaleej Times ZAWYA20091104041444Openhttp://www.zawya.com/story.cfm/sidZAWYA20091104045424Gold futures in Dubai hogged the limelight after the announcement of IMF gold sale, first such sale in nine years, and further ease in the US dollar.Wed, 04 Nov 2009 06:47:43 GMTEmirates Business 24/7 ZAWYA20091104045424Openhttp://www.zawya.com/story.cfm/sidGN_03112009_041111.txtDaman Investments, a leading private sector investment management company based in the UAE has plans for an initial public offering (IPO) by 2012 as part of a new corporate strategy.Wed, 04 Nov 2009 05:53:24 GMTGulf News GN_03112009_041111.txtOpenhttp://www.zawya.com/story.cfm/sidGN_03112009_041134.txtThe Borse Dubai International Investor Conference New York 2009, co-hosted by the Dubai Financial Market (DFM) and Nasdaq Dubai, in cooperation with Citigroup Global Markets and Goldman Sachs, came to a close yesterday.Wed, 04 Nov 2009 05:37:30 GMTGulf News GN_03112009_041134.txtOpenhttp://www.zawya.com/story.cfm/sidDS041109_dsart43Figures released by the Beirut Stock Exchange indicate that total trading volume reached 94.9 million shares in the first 10 months of 2009, a decrease of 3.2 percent year-on-year.Wed, 04 Nov 2009 04:55:24 GMTThe Daily Star DS041109_dsart43Openhttp://www.zawya.com/story.cfm/sidGN_03112009_041141.txtA British fugitive has been jailed for five years and dismissed from his position as risk management director of Istithmar World after a court convicted him of misappropriating $1.3 million (Dh4.77 million).Wed, 04 Nov 2009 04:09:48 GMTGulf News GN_03112009_041141.txtOpenhttp://www.zawya.com/story.cfm/sidZAWYA20091104040008Banks are in for another year of weak profits and high provisions for bad debts including loans to two struggling Saudi conglomerates before business picks up again, according to the chief executive of Mashreqbank.Wed, 04 Nov 2009 04:05:44 GMTThe National ZAWYA20091104040008Openhttp://www.zawya.com/story.cfm/sidZAWYA20091103143430As part of the National Bank for Development's commitment towards constant growth and development, the bank is opening and renovating 28 branches in governorates across Egypt. Tue, 03 Nov 2009 14:47:07 GMTPress Release ZAWYA20091103143430Openhttp://www.zawya.com/story.cfm/sidANA20091103T143424ZJTT62HSBC is to cut more than 1,700 jobs across Britain, a spokesman for the global banking group said on Tuesday.Tue, 03 Nov 2009 14:42:15 GMTAFP ANA20091103T143424ZJTT62Openhttp://www.zawya.com/story.cfm/sidWAM20091103140018430National Bank of Abu Dhabi (NBAD) has announced the opening of a new branch in Hor Al Anz in Dubai, taking the total number of the bank?s branches across the country to 94.Tue, 03 Nov 2009 14:16:19 GMTWAM (Emirates News Agency) WAM20091103140018430Openhttp://www.zawya.com/story.cfm/sidZAWYA20091103122602United Gulf Bank has announced a net profit of US$ 18.2 million (2.23 US cents per share) for the first nine months of 2009, 94.8 per cent lower than US$ 348.9 million (42.62 US cents per share) earned for the same period in 2008.Tue, 03 Nov 2009 12:58:50 GMTPress Release ZAWYA20091103122602Openhttp://www.zawya.com/story.cfm/sidZAWYA20091103112319Jordan Dubai Energy & Infrastructure announced the signing of a memorandum of understanding with Kazyna Capital Management (KCM), the private equity arm of the soverign wealth holding company Samruk-Kazyna.Tue, 03 Nov 2009 12:09:33 GMTPress Release ZAWYA20091103112319Open