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Tunisia to spend over $1bn to recapitalise banksTunisia may spend over a billion dollars to recapitalise its state-owned banks as the government struggles to stabilise the economy after the 2011 revolution, Tunisian authorities have told the International Mone More… |
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Gulf NRIs send home $40bn every yearIndian expatriates in the Gulf every year send back home $40 billion, said a senior official. This accounts for more than half of $69 billion which the World Bank says is the total remittance by Indians worldwide, said a Gulf Dail More… |
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Bahrain banking sector set for 12pc growthBahrain's banking sector is set to achieve a growth rate of 10 to 12 per cent in the coming three years, said Al Baraka Banking Group chairman and Union of Arab Banks board member Adnan Yousif. The Kingdom ranks third after Sa More… |
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GCC debt securities issuance hits $16.7bn in Q1The total issuance of debt securities witnessed a strong pick up during the first quarter which grew by 2 per cent over last year to hit $16.7 billion on the back of healthy activity by the non-financial sector in Saudi and UAE banks, said a rep More… |
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Saudi pushes banks to allot more jobs for localsSaudi Arabia's central bank has asked commercial banks to increase localisation of some functions as Riyadh pushes to move more of its citizens into jobs now done by expatriates, a banker in the kingdom said. The Saudi Arabian More… |
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ATM heist: India probes security breachThe Indian government's cyber watchdog is investigating how security at two companies that are part of the country's vast IT services industry was breached in a global ATM heist that saw $ More… |
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Bahrain banks warned against cyber attacksBanks in Bahrain are vulnerable to the kind of cyber attacks that saw $45 million stolen from two banks in the Middle East - the UAE-based National Bank of Ras Al Khaimah and the Oman-based Bank Muscat, said an expert. "This More… |
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G7 finance chiefs to discuss bank reform pushSome of the world's most powerful finance chiefs will meet in an English stately home on Friday and Saturday to try to speed up banking and finance reforms, with Cyprus' near meltdown fresh in their minds. Finance minister More… |
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GCC banks close dual-currency deal for AsyaA consortium of Gulf-based banks has announced the successful closing of a $230.5 million and a euros 115.3 million syndicated dual-currency Murabaha financing facility for Turkish Bank Asya. More… |
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Bahrain picks banks for $500m sovereign bondBahrain has mandated banks for a sovereign bond issue, three sources familiar with the matter said on Monday, with proceeds likely to help the oil exporter plug a budget deficit this year. The government of the Gulf kingdom is see More… |
