Saturday 1 October 2016

Pinsent Masons wins big project finance award

International law firm Pinsent Masons, which has regional offices in Dubai and Doha, has been named Best Law Firm for Project Finance at the Islamic Finance News (IFN) Awards 2016. A global 100 law firm, Pinsent Masons is a specialist in the energy, infrastructure, financial serv


World Bank offers Egypt $500m loan to create jobs

A new $500 million World Bank loan will help create jobs in Upper Egypt by enhancing the business climate and improving infrastructure and the delivery of services. The Upper Egypt Local Development Programme, approved by the World Bank Group’s Board of Directors today, wil


Germany's Commerzbank cuts nearly 10,000 jobs

Germany's Commerzbank will cut more than a fifth of its workforce and suspend its dividend as it tackles the challenges of low interest rates, weak profits and the shift to online banking. Germany's second biggest lender said on Thursday it plans to cut 9,600 of its 45,00


Saudi cbank asks banks to reschedule consumer loans

Saudi Arabia's central bank has asked local banks to reschedule consumer loans after the government cut bonuses and other financial perks for public sector workers, local media reported on Thursday. The cabinet announced this week that it would slash ministers' salaries b


SCB China launches trading for UAE, Saudi currencies

Standard Chartered Bank (China) (SCB China) has launched a direct trading business for RMB/AED and RMB/SR and the bank becomes the first batch of direct trading market-makers for RMB against AED and SR in China’s inter-bank FX market. Sami Mahfouz, head of Financial Markets


Citi Bahrain launches new online banking platform

Citibank Bahrain has launched its new online banking platform and the Citi mobile app service, reported the Gulf Daily News, our sister publication. To read further, please visit


SWIFT launches 1st phase of payments innovation

SWIFT, a global provider of secure financial messaging services, has completed the first phase of the global payments innovation (gpi) initiative pilot, clearing the way for the go-live of the service in early 2017. During the pilot, 15 global banks representing more than 30 per


UAE, New Zealand discuss moves to enhance trade ties

The UAE and New Zealand have discussed moves to enhance cooperation and economic relations between the two countries, especially across vital sectors and areas like renewable energy, agriculture, food and innovation. Engineer Sultan bin Saeed Al Mansouri, Minister of Economy, rec


UAE tops in competitiveness in region

The UAE was ranked first regionally and 16th globally in the latest Global Competitiveness Report issued by the World Economic Forum (Davos) in Switzerland. The report is one of the most important global competitiveness reports, which monitors annual performance and competitivene


ADGM partners with Jordan Securities

The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and Jordan Securities Commission (JSC) signed an agreement (MoU) to enhance regulatory cooperation and foster cross-border activities. The MoU establishes a framework for both Authorities to

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