Barclays has begun a formal process to sell its Egyptian unit, with at least two banks from the Middle East and North Africa region expressing interest in the business, sources familiar with the matter said on Tuesday.
The Doha meeting, among 16 oil producers (Opec and non-Opec) concluded on Sunday, without an agreement on a production freeze, as the political tension between Saudi Arabia and Iran trumped the economics for agreeing to a deal, a report said.
Attijariwafa Bank, Morocco's largest bank by assets, plans to bid for the Egyptian operations of Barclays, a senior executive told Reuters on Tuesday.
Barclays said last week it will sell its Africa business as Chief Executive
Barclays is cutting nearly 150 people from its corporate banking unit in Dubai as part of a restructuring of the business in the Gulf emirate, a source familiar with the matter said on Wednesday.
The bank will close its office in
The talk of an Opec cut is likely no more than an attempt to shift market sentiment, according to an expert, who remains skeptical about a change in the physical market imbalance.
Michael Cohen, head of Energy
Barclays will cut about 1,000 jobs in investment banking worldwide and close its cash equities business in Asia as new chief executive Jes Staley wields the axe in a bid to reduce costs and boost returns.
Brent and WTI prices will hover around $37/barrel this year, though the prices could move slightly higher in the second half of the year with WTI at a premium to Brent, says a commodities research published by Barclays.
The oil market i
Portfolios should continue to focus more on equities and away from the overpriced bond market as the current economic climate will remain unchanged during the first quarter (Q1) of 2016, an industry expert said.
Vic Malik, head of
Barclays has launched its new offshore banking proposition at the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority.
Commenting on the launch, Andrew Mortimer,