Find the latest Banking news in Dubai, UAE, Abu Dhabi, Saudi Arabia and the rest of the GCC. Find news of IT, Telecoms, Finance and Banking from the companies in the Middle East.

Latest Banking News

Page 5 of 14 «1 2 3 456 7 8 9 10...14 »

Dubai’s Leading Investment Bank Posts Return to Profit

Dubai, UAE : 03 May

SHUAA Capital, the giant Dubai investment bank, which has a presence in Riyadh, Abu Dhabi, Doha, Cairo, Istanbul and Beirut, has today posted profits of $5.3million for the first quarter of 2010.

As one of the biggest investment banks in the Gulf and Middle East region, Shuua had suffered more than most and experienced significant losses in 2009. However, the appointment last year of new chief executive, Samir Al Ansari, has seen the company return to profit. Mr Ansari expressed confidence today at the future of Shuua, stating that they were ‘well positioned’ to reap rewards from the market recovery and that he expected to see ‘further benefits’ to come.

In March this year the Saudi arm of SHUAA Capital announced that it had acquired land on the Jeddah Corniche for their SR2 billion private equity fund. Compliant with Sharia law, the fund will be used to develop luxury hotel apartments. The Kingdom is the biggest player in the Islamic financial market with private liquidity in Saudi sitting at an estimated $1.2 trillion.

Sarah O'Connell, Staff Writer, Gulf Jobs Market

03 May

Hope on The Horizon for Dubai World Debt

Simon Cooper, a senior executive for HSBC, one of Dubai World’s major creditors, stated today that after the most recent debt repayment proposal there might be only weeks to an agreement between lenders and creditors.
Mr Cooper was confident that there would be “no reason why” the proposal would not be signed “in a few weeks”, [...]

02 May

DFM Company see a Drop in Net Profit

DFM (Dubai Financial Market Company) has just released their profit figures for the initial three months of 2010 and they show overall profit figures of just under of Dh54 million which is a reduction of approximately 8% on the previous figures released. However analysts are noting that the DFM trading value has increased by 5% [...]

02 May

UAE Banks See Costs Reduction in Q1 2010

Many banks in the United Arab Emirates are now concentrating on reducing their core cost levels through shrewder cost management and by implementing new strategies which will mean overall savings.
The Emirates National Bank in Dubai is an example of one bank who is implementing these types of cost saving measures. In 2009 they reduced their [...]

01 May

Dubai World’s Revised Offer Leaves Lenders Dissatisfied

At present the Dubai World talks are still ongoing with the latest news indicating that they have now made a revised offer to lenders. However the banks involved still remain largely dissatisfied with the terms being offered analysts are stating.
The offer at present is for a 1% interest rate and another 1% of payment in [...]