QIIB announces its results for the first quarter (Q1-2020)
QIIB Chairman and Managing Director, His Excellency Sheikh Dr. Khalid bin Thani bin Abdullah al-Thani announced the bank’s financial results for the first quarter (Q1) that ended on March 31, […]
BRI: Chinese firms eye overseas acquisitions amid COVID-19 outbreak
Chinese companies are likely to aggressively look out for acquisitions or investing in strategic technologies/assets, and promising sectors in foreign locations as many companies globally are witnessing a fall in […]
Gulf banks could see second wave of mergers after pandemic dust settles
The impact of the novel coronavirus on the global economy is growing and continues to shock the markets in unprecedented ways. On April 20, we have seen US crude oil […]
Saudi banks stable despite oil price drop
Saudi banks are expected to have enough capital to weather the economic stress created by the coronavirus pandemic. The ratings agency which assesses the creditworthiness of countries and companies believes […]
Crédit Agricole Egypt Q1 consolidated profits plunge 36.5%
Crédit Agricole Egypt (CIEB) announced a 36.5% year on year (YoY) decline in net consolidated profits during the first quarter (Q1), according to an EGX disclosure. The bank registered EGP […]
Nine Emirati companies among world’s largest
The 18th annual ranking of the world’s 2,000 largest public companies by Forbes included nine Emirati companies, topped by First Abu Dhabi Bank (FAB), ranked at 303. The FAB achieved […]
COVID-19: Global insurance industry set for historical losses – Lloyd’s
The global insurance industry is set for historical losses due to the impact of the COVID-19 pandemic on the sector, a recent economic study undertook by Lloyd’s of London to […]
China grants Fitch Ratings approval for domestic ratings business
The National Association of Financial Market Institutional Investors had given its approval for Fitch (China) Bohua Credit Ratings Ltd to conduct bond ratings China’s central bank said on Thursday that […]
Oman’s Ahli Bank extends support to ‘Fak Kurba’
Ahli Bank has extended financial support, for the seventh year in a row, to the ‘Fak Kurba’ initiative implemented by the Oman Lawyers’ Association (OLA) in coordination with the Ministry […]
Central Bank of Bahrain’s new board holds first meeting
The new-look Central Bank of Bahrain (CBB) board held its first meeting since it was restructured. Chaired by Hassan Khalifa Al Jalahma, the panel extended thanks to the outgoing board […]
Saudi NCB, Samba post profits, diverge on provisions
National Commercial Bank, Saudi Arabia’s biggest lender, on Sunday posted a 2.1% rise in quarterly profit despite higher provisions while Samba Financial Group 1090.SE surprised with lower provisions. Net profit […]
Credit card habits show rich vs. poor conundrum
JPMorgan’s credit card customers spent 40% less after Covid-19 hit, according to a study by its internal think tank. That sounds dire for a lender that has one-sixth of its […]
Egypt to loan EgyptAir $127mln to help it through coronavirus crisis
Egypt’s government will lend EgyptAir 2 billion Egyptian pounds ($127.39 million) due to the impact of the coronavirus on its operations, the finance ministry said. A member of the Star […]
First Abu Dhabi Bank puts talks to acquire Bank Audi’s Egyptian business on hold -sources
First Abu Dhabi Bank (FAB) has put on hold discussions to acquire the Egyptian assets of Lebanon’s Bank Audi AUDI.BY due to difficult market conditions. FAB, the United Arab Emirates’ […]
NIB approves capital hike for aiBANK
National Investment Bank (NIB) agreed to increase the capital of Arab Investment Bank (aiBANK) by EGP 800 million, Hala el Said, Egypt’s planning minister and chairman of NIB, announced in […]
Morgan Stanley turns bullish on emerging market sovereign debt
Morgan Stanley struck a buy call on emerging markets sovereign debt, citing cheap valuations, the prospect of significant policy support and the fact that sell-offs in recent months have created […]