Saturday 28 May 2016
 
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Setback for big banks as court revives Libor lawsuits

A US appeals court has revived private antitrust litigation accusing major banks of conspiring to manipulate the Libor benchmark interest rate, in a big setback for their defense against investors' claims of market-rigging. Th

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Hackers probe defences of Mideast banks: FireEye

Hackers are probing the defences of banks in the Middle East, targeting employees with infected emails which gather information about the banks' network and user accounts, FireEye researchers said. FireEye, a US cybersecurity

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Abu Dhabi's IPIC picks nine banks to arrange euro bond

Abu Dhabi state-owned International Petroleum Investment Company (IPIC) has selected the nine banks which lent to its subsidiary for its own euro-denominated bond issue, sources aware of the matter said. However, the bond is unlik

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Abu Dhabi's IPIC picks nine banks to arrange euro bond

Abu Dhabi state-owned International Petroleum Investment Company (IPIC) has selected the nine banks which lent to its subsidiary for its own euro-denominated bond issue, sources aware of the matter said. However, the bond is unlik

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GCC banking sector seeing new challenges

The regional banking sector has entered a new paradigm where we see margin compression, tightening liquidity, moderate asset and profit growth, limited capital market activity, greater focus on cost reduction, a report said. Howev

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Oman picks banks for first bond in 20 years

The government of Oman has chosen five banks to arrange the sultanate's first international bond issue in almost 20 years, sources aware of the matter said on Thursday. The upcoming US dollar-denominated issue comes as Oman, l

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EU mulls crackdown on banks, offshore tax advisers

European Union countries should consider taking tougher measures against banks and tax advisers who help their clients to hide money offshore, an EU Commission paper says. The document will be discussed at a meeting of EU finance

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Asian shares drop as banks come under pressure

Asian shares extended losses to three-week lows, while the yen soared to a 17-month high against the dollar as investors bet Japan would be hard pressed to drive down its currency in the face of widespread foreign opposition. &nbs

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UAE banks agree 'mini insolvency law' to help SMEs

Banks in the UAE will suspend legal action against small and medium sized enterprises (SMEs) struggling to repay debt for up to three months to prevent a surge in defaults that may jeopardise the economy. The initiative, which inv

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Saudi bourse asks banks to pitch for IPO advisory roles

The Saudi Stock Exchange has asked banks to pitch for roles advising on its initial share sale, sources familiar with the matter said, kicking off one of the region's most eagerly-anticipated flotations. Tadawul said in Decemb

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