Deutsche Bank warned it may need deeper cost cuts to turn itself around, after revenue fell sharply in the second quarter due to challenging markets and low interest rates.
"If the current weak economic environment persists,
Deutsche Bank is looking to sell at least $1 billion of shipping loans to lighten its exposure to the sector whose lenders face closer scrutiny from the European Central Bank, sources told Reuters.
While the oi
Paramount Services Holdings, the investment fund of the Qatari royal family, issued a statement on Wednesday in support of Deutsche Bank chairman Paul Achleitner.
The statement comes after Germany's manager Magazin quoted a pe
Deutsche Bank has appointed Jamal Al Kishi as chief executive officer, Middle East and Africa with immediate effect.
Al Kishi replaces Ashok Aram who, as previously announced, is relocating to Frankfurt as chief executive officer
Deutsche Bank has appointed Rafik Nayed as the chief country officer (CCO) for the United Arab Emirates and senior executive officer of Deutsche Bank AG Dubai (DIFC) Branch.
Effective immediately, Nayed takes over from Nadeem Masu
Dubai-based United Arab Shipping Company (UASC) said that it has selected Deutsche Bank to provide advanced cash management solutions in 18 countries across Europe.
UASC is among the largest shipping lines in the Middle East, and
Deutsche Bank AG is looking into possible money laundering by its clients in Russia involving about $6 billion of transactions over four years, Bloomberg reported yesterday, citing people familiar with the matter.
The report came
Deutsche Bank AG announced today the appointment of Javeed Ameen as chief operating officer (COO) for the Middle East and Africa (MEA) region.
Ameen will be based in Dubai, UAE, and report to Ashok Aram, CEO Middle East and Africa
Dubai-based DP World, a major global marine terminal operator, plans to acquire Maher Terminal’s Fairview Container Terminal (Fairview) in Prince Rupert, Canada, from Deutsche Bank for $457 million.
Fairview presents growth
The Qatari royal family is set to take a stake in Deutsche Bank as part of a planned multi-billion capital increase, two people familiar with the transaction told Reuters.
Qatar will buy new Deutsche Bank shares ahead of a rights