Search Results for: Arab
Latham and Bakers’ Saudi associates take key roles on $6bn National Commercial Bank IPO
October 27th, 2014
Latham & Watkins and Baker & McKenzie’s association firms in Saudi Arabia have won key roles advising on the IPO of the country’s largest lender, the National Commercial Bank (NCB). The $6bn (£3.7bn) flotation is the largest-ever listing in ...
Markets in UAE, Qatar edge up
October 27th, 2014
Bourses in the United Arab Emirates and Qatar rose in early trade on Sunday on the back of a supportive global background and positive domestic news flow. US stocks were up on Friday after strong results from Microsoft and ...
Mashreq Bank retail chief insists the bank does not cold call customers
October 27th, 2014
Mashreq Bank has insisted that it does not engage in cold calling of residents, according to the bank’s UAE head of retail banking. Despite the practice being outlawed by authorities in the UAE since 2011, there have been numerous ...
Kuwait bourse cancels trades in Kuwait Investment Co, Zain
October 24th, 2014
The Kuwait Stock Exchange cancelled all trades in the shares of Kuwait Investment Co and Zain that had taken place on Thursday before it suspended the stocks at mid-session, it said in a statement. Kuwait Investment Co surged 7.6 ...
Copyright claims against YouTube ‘unfair’, says co-founder
October 24th, 2014
The co-founder of YouTube, Chad Hurley, has said legal cases launched against the video-sharing website have been “unfair” and blamed traditional television broadcasters who are scared of losing their influence in the distribution of content. Multiple copyright cases have ...
Millions stolen from UAE bank customers in ATM scam
October 23rd, 2014
A gang of Eastern Europeans has been arrested by police in Dubai on suspicion of stealing millions of dirhams from ATM customers in the UAE. According to 7Days newspaper police arrested the gang after uncovering their elaborate scam that ...
How Wall Street Is Killing Big Oil
October 22nd, 2014
Lee Raymond, the famously pugnacious oilman who led ExxonMobil between 1999 and 2005, liked to tell Wall Street analysts that covering the company would be boring. “You’ll just have to live with outstanding, consistent financial and operating performance,” he ...
National Bank of Oman highlights distinctions between conventional and Islamic finance
October 22nd, 2014
“The GCC countries have committed to actively strengthening their positions in the Islamic finance market, with Saudi Arabia currently in the lead. We, at the National Bank of Oman, have been doing significant work in the Islamic finance domain ...
Saudi’s NCB to convert to Islamic bank after pressure from scholars
October 21st, 2014
Saudi Arabia’s biggest bank has responded to criticism of its operations from Islamic scholars by pledging to convert itself into a full-fledged Islamic bank within about five years. The decision, made as the bank launches a $6 billion initial ...
StanChart preparing to close bank accounts of thousands of UAE SMEs
October 20th, 2014
Standard Chartered has notified thousands of UAE small and medium enterprise customers it is closing their accounts as it responds to pressure from US regulators to cut its risks following an anti-money laundering settlement. “We regret to notify you ...
