Monday 27 June 2016

Saudi non-oil GDP growth to slow to 2.8pc

Growth in Saudi Arabia's non-oil gross domestic product is expected to slow to 2.8 per cent this year from 3.4 per cent in 2015, Saudi central bank governor Ahmed Al Kholifey told state television station Ekhbariya. Kholifey, speaking in an interview broadcast late on Saturda


Gulf Capital wins ISO certification

Gulf Capital, a top alternative asset manager in the Middle East, has received ISO/IEC 27001 certification from The British Standards Institution (BSI) for its information security management system. This certification is created by a joint technical committee of the Internationa


Saudi Arabia picks arrangers for $10bn bond

Saudi Arabia has chosen Citigroup, HSBC and JP Morgan to arrange its highly anticipated sovereign bond issue, two sources with knowledge of the matter said on Sunday. Banks had pitched for roles on the transaction earlier this month; financiers speculated the issue could be worth


Brexit ‘may open up opportunities for GCC’

Britain's   exit from the European Union (EU) may open up more opportunities for Bahrain and also allow the UK to forge deeper joint-trade partnerships with GCC countries, reported the Gulf Daily News, our sister publication. To read further, please visit


Saudi, UAE see no big financial impact from Brexit

Major Gulf economies Saudi Arabia and the UAE said on Saturday that they did not anticipate their financial institutions to be greatly affected as a result of Britain's vote to exit the European Union. Saudi Arabia, the world's largest oil exporter and Opec heavyweight, s


London at risk of losing 'EU passport'

London's financial center will lose its prized "EU passport" if Britain fails to secure continued access to the bloc's single market in its exit talks, ECB Governing Council member Francois Villeroy de Galhau said on Saturday. Banks based in London, Europe's


Saudi says no big Brexit effect on banking sector

Saudi Arabia said on Saturday it had made some adjustments to assets denominated in sterling and euros in anticipation of Britain's vote to exit the European Union. The adjustments were made ahead of the results of the vote as the Kingdom had been monitoring the situation and


Brexit puts UK-China financial services linkages at risk

Britain's shock vote to leave the European Union could derail a raft of financial services projects agreed between China and the United Kingdom, which for years has marketed itself to Beijing as its best economic and financial friend in Europe. The "Leave" camp clin


ECB ready to manage financial impact of Brexit vote

The European Central Bank is ready to manage impact on financial markets and the banking system of the British vote to leave the European Union, a senior ECB official said on Friday. "The ECB is ready, today everyone is in place and there will be instructions from the govern


Turkish investors sell over $1bn in forex after Brexit

Turkish local investors sold over $1 billion in forex in profit taking after an initial steep slide in the lira on Friday as Britain's shock vote to exit from the European Union hit emerging market currencies, bankers told Reuters. Local investors took profits after the lira

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