Middle East Financial News
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Middle East Financial News
A daily dose of the Financial world in the Middle East
Curated by James Kevan
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James Kevan - Financial Services Recruiter - LinkedIn/Contact Details

James Kevan -  Financial Services Recruiter - LinkedIn/Contact Details | Middle East Financial News | Scoop.it

Please do get in touch via my LinkedIn page if you would like to discuss my Magazine or if you require any recruitment help or advice. Alternatively please email me at james.kevan@connectedgroup.com . Many thanks!

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Saudi banking is least leveraged

Saudi banking is least leveraged | Middle East Financial News | Scoop.it

Saudi Arabia is the largest economy and banking market in the Arab world, with almost 40 per cent of all deposits in interest free Shariah-compliant savings products and an embryonic, high growth mortgage, takaful (Islamic insurance), consumer credit and leasing industries.

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Merrill Lynch gets boost from Saudi opportunities

Merrill Lynch's Middle Eastern wealth management division is set to outperform the regional market's growth rate of around ten per cent in part due to opportunities in Saudi Arabia, a senior executive said yesterday.

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Dubai Deal Drought Makes Citigroup, Agricole Bring Staff Home

Deutsche Bank AG and Credit Agricole SA are among international banks withdrawing employees from Dubai as deals dry up, revenue falls and lenders curb costs.

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BofA Merrill Lynch appoints new wealth management head

Bank of America Merrill Lynch has named Dan Cummings as the new head of international wealth management and global equity capital markets.
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Iran’s Central Bank Considers Measures to Fight Money Laundering

The Central Bank of Iran has issued a circular, which bans the contemporaneous occupation of the position of the executive director of a bank and membership of the board of directors of the same bank, Fars news agency reported.The Central Bank banned the simultaneous occupation of the position of the executive director and membership in the board of directors at private banks, privatized state banks, such as Saderat, Mellat, Tejarat, Refahe-Kargaran and other, and non-banking credit organizations.According to the report, this measure was initiated towards improving the bank management system and fighting against money laundering

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Middle East private equity players upbeat on prospects

Middle East private equity players upbeat on prospects | Middle East Financial News | Scoop.it
Abraaj Capital eyeing around 40 deals valued at $100m-$200m...
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Gulf International Bank wins investment awards

Bahrain-based Gulf International Bank (GIB) has won three awards in the investment banking category of the Global Banking and Finance Review Awards for 2011.

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Commercial Bank of Dubai net profit at Dhs777m up 1% over the same period in 2010 | Commercial Bank of Dubai (CBD) | AMEinfo.com

Commercial Bank of Dubai net profit at Dhs777m up 1% over the same period in 2010 | Commercial Bank of Dubai (CBD) | AMEinfo.com | Middle East Financial News | Scoop.it
Commercial Bank of Dubai announced its results for the nine month period ended 30 September 2011. The Bank's net profit after allowances for non-performing loans amounted to Dhs777m for the first...
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HSBC to shut UAE retail brokerage services

DUBAI (Zawya Dow Jones) -- U.K.-based banking giant HSBC Holdings PLC (HBC) will close its retail brokerage business in the United Arab Emirates from December and instead focus on institutional clients, a senior bank executive said Monday.
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HSBC to Halt U.A.E. Retail Brokerage as Volumes, Stocks Sink - Businessweek

HSBC Holdings Plc, Europe’s biggest bank, will stop offering brokerage services to retail investors in the United Arab Emirates and focus on institutional clients after local trading volumes and stocks plummeted.
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Analysis: Gulf, Asia economic links yet to fulfill rich promise

BAHRAIN (Reuters)- On the face of it, the economies of the oil-rich Gulf and of fast-growing Asia are a perfect match.
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Almarai May Set Up First Sukuk Program in 2012 for Expansion

Saudi Arabia’s largest food producer by market value, may set up its first Islamic bond program by early 2012 as it seeks financing for expansion.

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UAE has highest Arab bank adequacy

UAE has highest Arab bank adequacy | Middle East Financial News | Scoop.it

The UAE has the highest capital adequacy ratio in its banks in the Arab world because of a steady rise in capital but banks are still maintaining a tight lending police adopted after the 2008 global financial distress.

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» UAE C.Bank Says Has No Exposure To Euro Debt

The United Arab Emirates’ central bank has no exposure to euro zone debt in its reserves and it only invests in countries and corporates rated AAA as required by law, a senior central bank offic...
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Banks: Making them robust

THE DRIVE to recapitalise Europe’s weakest banks could cost up to €200 billion, with much of this coming from taxpayers.
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UAE 2011 real GDP growth seen at 4.2 pct - stats office

The United Arab Emirates' economy is expected to grow by 4.2 percent in real terms this year, much faster than in 2010, helped by robust oil prices, the National Bureau of Statistics said on Tuesday citing preliminary data.
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HSBC inks investment advisory arrangements with Graycliff Partners

HSBC, through its wholly owned subsidiary HSBC Capital (USA) (HCUS), has entered into investment advisory arrangements with Graycliff Partners to manage its investment business in the US and Latin America.

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Oman woos Singapore with trade and investment opportunities

BankMuscat, the leading financial services provider in the Sultanate, in association with the Ministry of Foreign Affairs, organised Oman Investment Forum yesterday in Singapore, highlighting the promising trade and investment opportunities in Oman. The forum was a huge success with the presence of over 150 participants representing leading Singapore companies keen on exploring business relations with Oman.

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HSBC scales back brokerage

HSBC scales back brokerage | Middle East Financial News | Scoop.it
HSBC Middle East Securities, the local brokerage arm of HSBC Holdings, said it will halt trading in shares for retail investors and shift to institutional clients amid sluggish markets and low volumes.
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Kuveyt Turk, Almarai, Indonesia, Tenaga: Islamic Bond Alert

The following borrowers are expected to sell Islamic bonds, which use asset returns to pay investors to comply with the religion’s ban on interest.
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» Dubai’s Abraaj eyes up to 4 exits in next 18 months

Dubai-based private equity firm Abraaj Capital plans to sell up to four of its investments in the next 18 months, a senior executive said on Monday.
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UAE Central Bank launches IBAN

UAE Central Bank launches IBAN | Middle East Financial News | Scoop.it
The UAE Central Bank announced the introduction of the International Bank Account Number as a standard for identifying all bank accounts in the UAE, starting Nov 19.
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Qatar hopeful of luring even more financial heavyweights

Qatar hopeful of luring even more financial heavyweights | Middle East Financial News | Scoop.it

A quick trip down the waterfront provides an interesting vista of Doha, its skyline a cluster of steel, glass and concrete structures, some reminiscent of the towers in Dubai. Nestled on the West Bay area, the city’s business district, is Tornado Tower — an iconic edifice shaped like a tornado in the desert.

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Kuwait Finance House implements next-generation contact center from Avaya |

Avaya announced that Kuwait Finance House, one of the leading Islamic banks in the world, has implemented a contact center using Avaya technology. KFH offers Islamic banking services that include...
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Saudi to invest $500 million in Egypt treasury bills - Economy - Business - Ahram Online

Saudi Arabia will buy US$500 million worth in Egyptian treasury bills, and will also lend Egypt another $500m in budgetary support, the Saudi Ambassador to Egypt, Ahmed al-Qattan, has told media.

Egypt’s finance minister announced late August that Egypt was in talks with Saudi Arabia and the UAE to buy Egyptian financial instruments and help the government reduce the highest borrowing costs it has faced since 2008.

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