Thursday 20 June 2019

FAB to close Qatar Financial Centre branch

First Abu Dhabi Bank (FAB) has notified the Qatar Financial Centre Regulatory Authority (QFCRA) that it will relinquish its Qatar Financial Centre (QFC) branch licence and permanently close its QFC branch, a media report said. The decision to close its QFC branch follows "ma


Corporate finance leaders optimistic on Mideast growth

Corporate finance leaders across the Middle East region remain optimistic for future growth despite economic uncertainty, according to a leading survey.   Senior finance executives are positive about the economy, the outlook for their companies and their investm


AI credit positive for sovereigns: Moody's

Artificial intelligence (AI) has the potential to raise economic, institutional and fiscal strength, and reduce susceptibility to event risk for governments globally, a credit positive, said Moody's Investors Service in a new report. However, the credit benefits will material


Saudi banking sector net profit up 11.3pc in 2018

Saudi Arabia's banking sector saw positive results in 2018, with an average 11.3 percent growth in net profit, and 2.1 percent growth in total assets, according to a new report released by professional services firm KPMG. The recently released “GCC listed banks’ r


Facebook to launch digital wallet, currency

Facebook has announced a new digital currency called "Libra." The social media giant is partnering with 27 other businesses and organizations to start the crypto as an open-source currency.    The company has formed a subsidiary named Calibra, who


Oman banks’ funding, liquidity to remain tight: Moody’s

Omani banks' funding and liquidity is expected to remain tight over the next 12 to 18 months as the price of oil stays below breakeven, restraining deposits from the government, Moody's Investors Service said in a new report. "Project financing, corporate expansion a


KFH-Bahrain offers new private banking products

Kuwait Finance House-Bahrain (KFH-Bahrain), one of the leading Islamic Banks in Bahrain, has recently launched a new line of financial products in response to its customers’ demand for additional Sharia’a compliant investment products. The newly launched KFH-Bahrain C


Barclays named financial services advisor of the year

Barclays has been named Middle East Financial Services Advisor of the Year 2019 in the prestigious Mergermarket M&A awards, in recognition of its leadership in the Financial Institutions space. According to Mergermarket, the award is based on a number of factors, including Ba


Capital of UAE public companies hits $112bn in 2018

The capital of public joint stock companies listed by the Securities and Commodities Authority amounted to circa Dh412 billion ($112 billion) in 2018, a growth of 1 percent on year, a media report said. The capital of Abu Dhabi Securities Exchange-listed firms stood at Dh94.8 bil


Global economic growth to fall to 3.4pc in 2020: study

The momentum of the global economic expansion that slowed down in 2018 to 3.7 per cent is expected to carry on to 2019–2020, when annual global output expansion is forecast to decline to 3.3–3.4 per cent, said Euromonitor in a new report. Advanced economies are expect

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