Dubai has risen up the ranks of the Global Financial Centres Index (GFCI) to number eight position, representing its highest ever ranking. The city is the only financial centre within MEASA to appear within...
  Boston Consulting Group (BCG) has revealed the GCC’s banking industry beat their global competitors by recording growth in both revenue and profit last year. The study is based on the annual results from 32 banks located throughout the region. The...
Local businesses in the UAE are rallying support to put pressure on credit cards such as Platinum, Titanium, Black and Infinite in retaliation to a rise in commission fees from Network International, Visa, MasterCard and banks. The current commission figure...
A new report shows Islamic banking in Oman is expected to support the financial sector in the Sultanate. Published by the rating agency Moody’s, the report is titled 'Islamic Banking in Oman: Solid Growth Prospects Moderated by Industry Challenges’. It says...
An?Emirati man alleged to be the one behind the UAE's largest fraud scheme has defended charges brought against him and pleaded innocence. In total 94 people were charged, including AAQ, an Emirati, who has been sentenced to 5 years in...

Doping in Finance

Just like doping is one of the evils of the world of sports, the same goes for insider trading in the world of finance. The outcry over the use of performance enhancing drugs is legitimate in the sense that...
It is learnt that PNC Financial Services Group Inc has agreed to buy Royal Bank of Canada?s US retail operation for a whopping $3.45 billion. This deal will expand PNC to the US markets by adding 420 branches in...
S&P reaffirms Kuwait's AA rating and has given the country a 'stable' lookout thanks to its existing resources of crude oil. Amidst the growing turmoil that some countries are facing with regard to their credit rating in the international market,...
  11 outstanding global FinTech firms have been shortlisted for the inaugural FinTech Abu Dhabi Innovation Challenge in October, organized by Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, in collaboration with KPMG. The selected firms are currently undergoing an intensive...
Gulf Finance House (GFH), a Bahraini Islamic investment bank,?resumes trading after eight months of suspension. GFH is traded on?the Kuwait Stock Exchange, the Bahrain Stock Exchange and the Dubai Financial Market. The shares of GFH?are also traded on the...
The government of Abu Dhabi intends to establish a full-service financial zone on Al Maryah Island near Abu Dhabi's city centre. Initial reports suggest that the zone would have an independent administration and court system to attract banks and...
The Dubai stock market fell to the lowest level in more than four months on concerns over worsening debt crisis in Europe and a global economic slowdown that will dampen demand for Gulf oil. Shares of Emaar, the developer of the...
As the Federal Reserve is going to adjourn its meeting today, it is expected that a fresh round of bond buying will be carried out in order to support the economic recovery. The recovery has been plagued by the...
According to a recent analysis by Frost & Sullivan, the Managed Services Market growth within the Gulf Cooperation Council states is set to expand from USD 1,073 million in 2012 to USD 3,112 million by 2018 yearend. The GCC states,...
THE STORY The sale safes has greatly risen in the U.S. as citizens have become over-protective about their assets and have decided to adopt the ?Prevention is better than Cure? motto when it comes to storing their valuables. THE SELLERS OF...
Middle East and North Africa banking and securities companies' software spending to hit $12.8 billion in 2014 Software spending for the Middle Eastern & North African banking and securities Firms is forecast to grow at 10 percent in 2014, thanks to...
Citigroup reported higher third-quarter earnings on Monday, helped by rising income from Asia and an accounting gain banks can take in turbulent markets. Citigroup has continued its bounce back from near death announcing its seventh consecutive quarterly profit. Citi, which received...
Press Release Saudi Arabia Islamic Finance Assets estimated at US$ 94 billion Deloitte: Total Saudi Arabia Islamic Finance Assets represent 26%  out of GCC total 21 June, 2012 – A Deloitte Middle East Islamic Finance Knowledge Center (IFKC) report, entitled ‘Empowering Risk Intelligence in Islamic Finance’,...
It seems that the global trend of substituting cash with plastic money is catching up across the UAE, as revealed by a recent survey conducted by compareit4me.com, the UAE-based finance comparison site. According to the survey there is a rise in the...
A new market survey has revealed that large institutional investors in the Middle East are showing a greater appetite for alternative investments, such as private equity and hedge funds. The survey, by asset management arm of French bank Natixis shows...
The start of the week saw the EU sanction being put in place against Iran and that was just a precursor of the events that were to follow. This week is considered important, if not huge, for the crude oil...
The Central Bank of the UAE on Monday announced the introduction of the International Bank Account Number (IBAN) as a standard for identifying all bank accounts in the UAE, starting on November 19, 2011. The IBAN will be applicable to...
The phrase too big to fail did not exist in the world of finance before the 2008 financial crisis. The fact of the matter was that companies and institutions were thought of as being independent and their finances were...
The Qatari Financial Sector is making an increased effort to attract Foreign Direct Investment within the State of Qatar. According to  H.E Yousef Hussain Kamal, Minister of Economy and Finance and Chairman of the Financial Markets Development Committee, this is...
London Interbank Borrowing Rate or LIBOR is one of the most fundamental tools that used in today's financial industry. It makes up the basic building block when it comes to deciding the prices and structures of more complex and complicated...
THREE-IN-TEN UAE CFOs CONCERNED ABOUT AVAILABLE CASH FLOW WITHIN THEIR BUSINESS. Managing the balance sheets (29%) and access to investment financing (29%) are also primary concerns Nearly half (45%) cite customer/client insolvencies as the main reason for cash flow problems Cash flow...
Moody's Investors Service said in its outlook that Egypt's banking system remains negative due to the country's challenging operating environment. The note also disclosed that the high and rising exposure of Egyptian banks to government debt and their weak capital and...
Citigroup Inc. ?, which had taken a $45 billion U.S. bailout after losses on subprime home loans, is boosting profits from a hedge fund that bets the bank?s money on mortgage debt; a practice regulators plan to restrict. The group?s...
Rajat Gupta is?the son of an Indian independence hero. He often quoted Gandhi as an inspiration, made his way from the lower middle class roots in Kolkata to the elitist Harvard Business School and went on to become the...
Barclays was the first bank to be named as the culprit in the recent LIBOR manipulation. However, it was expected that as the investigation would delve deeper and more names would come up. Recent investigations revealed executives at three...
Islamic finance & Halal are powerhouses that are driving the Islamic economy forward. Whilst using the product-centric approach has worked till date, it’s critical to take on board the sociological changes that have come about. Authenticity & value are...
A new report says Middle Eastern investment banking fees have hit $356.6 million during the first half of this year. Middle Eastern investment banking fees have seen an impressive 28 percent increase compared to the same period last year. The...
Chinese central bank governor has dismissed allegations his institution enjoys tight control over the flow of yuan and vowed to take measures to widen the currency's trading band. In a latest interview with Chinese magazine Caixin, Zhou Xiaochuan, despite not...
  YouGov's latest survey finds that although UAE residents are generally happy with their current financial situation, they worry about their financial future due to fear of job loss and pay cuts Financial planning is an important part of most people’s...
A Challenging business environment requires not only to top up your service offerings but also a shift in mindset from top-down. Here are a few key strategic considerations accounting firms can implement to build customer relationships and future-proof their...
According to a survey of investment bankers, Singapore is likely to create the most jobs in financial services during the next 12 month period, compared to any other city, leaving London and New York behind. The survey showed Singapore is...
Financial experts warn UAE residents to be aware of the circumstances in which personal bank accounts can be frozen, and urges them to be better prepared for any adversaries. Debt and visa changes are the most common reason for not...
World Market Updates: Brought to you in association with Dubai Gold and Commodities Exchange (DGCX) Academy MARKET PULSE Fed. chairman nominee Janet Yellen said the economy is performing "far short of it's potential." Forecast: Fed will pare QE to $70 billion at...
The Eurozone has seen enough turmoil recently, but a new wound has been opened up by the prospect of yet another bailout. This time, it is the future of Cyprus which is in the hands of Eurozone politicians and...
Banks prioritise automation and efficiency in payments and trade finance to grow their transaction banking business 69 per cent cite operational inefficiencies as a barrier to growth in core businesses Cross-border payments processing the top priority for investment globally 84 percent said...