Asian equities have dipped and the dollar rose to a six week high against the euro, today, with gains seen as new concerns of a possible euro zone debt restructuring; promoting market players to reduce risk. The euro fell as...
Infrastructure Leasing & Financial Services Limited (IL&FS) has opened its third international office and first in the region, at the Dubai International Financial Centre (DIFC) IL&FS will sponsor, develop and commercialize infrastructure projects and provide value added financial services, will...
The New York attorney general (AG) has requested information and documents, in the recent weeks, from three major Wall Street banks. This is in regards to their mortgage securities operations during the credit boom, and indicating the existence of...
Strauss Kahn, the International Monetary Fund chief, has offered to resign following an alleged sexual assault of a hotel maid in New York. Kahn, 62, in his official statement says, that he has already informed the executive board of his...
The Wall Street is showing signs of a sell-off, but the US stocks might survive for another week relatively unscathed if investors keep betting on sectors less vulnerable to an economic downturn. There has been a pressure building up for...
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...
National Central Cooling Company (Tabreed) said yesterday that Abu Dhabi's Mubadala Development Company, and its wholly-owned subsidiary General Investments now hold a majority 26.1 per cent stake in the company. In a statement to the Dubai Financial Market (DFM), Tabreed...
The US Treasury has agreed to sell $5.8 billion worth American International Group (AIG) shares, as it winds down ownership of the global insurer. The government is planning to sell 200 million AIG shares at $29 each; which stands...

Christine Lagarde, the French Finance Minister is most likely to become the next head of the International Monetary Fund (IMF), with backing from the Unites States and Japan. Meanwhile, emerging market countries are arguing that their increasing influence in the...

The benchmark interest rate of the Reserve Bank of Australia is left unchanged for its sixth straight meeting. Experts are forecasting that the official interest rate will rise one percentage point to 5.75 per cent in the next 12...

Hawkamah, the Institute for Corporate Governance, plans to standardize Islamic bonds. The Islamic finance industry seeks more uniformity and the new template for Sukuk Ijarah to ease the cost of issuing the debt and also strengthen the Islamic finance...
Buoyed by its recent success, Dubai plans to enter debt market with a dollar bond issue under its $4 billion medium-term notes program. Dubai's department of finance has appointed UBS, Royal Bank of Scotland, and Emirates NBD for the...
The International Monetary Fund (IMF) has confirmed news of it being a victim in a sophisticated cyber attack; this is the latest in a series of high profile hacking incidents against major corporations and institutions. Cyber security officials stated the...
The International Monetary Fund (IMF) has seen upheavals within itself for a long time. However it became public with Dominique Staruss Kahan, who resigned last month after he was charged with attempted rape, as managing director. He pleaded not...
The International Monetary Fund (IMF) has confirmed that it has short listed two candidates for the post of managing director. Now, French Finance Minister Christine Lagarde and Governor of the Bank of Mexico Agustin Carstens are the two top...
United Arab Bank (UAB) has confirmed news that it is offering the lowest mortgage rate in the UAE as demand for home financing starts to gather pace after a two year slump. It is learnt that UAB was undercutting...

The central bank has instructed banks operating in the Gulf country to freeze the assets of 19 Libyan individuals and entities, a senior bank official said yesterday. The move comes in line with the UN Security Council Resolutions 1970...
Despite the widespread call from emerging economies for their candidate to head the International Monetary Fund (IMF), the IMF board announced on Tuesday that it has selected French Finance Minister Christine Lagarde for the position. With Lagarde clinching on...
NASDAQ and NYSE have been big competitors on the Stock Exchange market for a long time now. It is an everlasting debate to decide which of these are better and how one of them outperforms the other. Lately, it has...
Zain Iraq is facing its biggest challenge to meet a deadline in August to launch an initial public offering and it is learnt that the company may end up floating less than a regulator mandated 25 percent stake. "We had...

Banks in the UAE are now being forced to relax debt repayment plans in a bid to recoup outstanding loans from debtors who have left the country. Lenders are now accepting realistic payment plans and using threats of jail...
The Islamic finance industry in the country has begun a charm offensive to convince more governments, institutions and bank customers to adopt the Sharia-compliant finance. "That's a specific dialogue that we're just beginning," Neil Muller, the global head of Islamic...
Its boom time for private bankers as they target the rich amidst political unrest in Middle East. Banks such as UBS AG and Royal Bank of Scotland Group Plc (RBS) are targeting the rich people for wealth management operations....
Bank of Sharjah, which was the first Middle Eastern financial institution to borrow from the loan market following the global financial crisis, has mandated banks for a two year money deal. It is refinancing the $150m one year loan it...
A filing by First Gulf Bank (FGB) shows that it has ended ties with its Libyan unit, First Gulf Libya Bank (FGLB), after political unrest in the country and its investment in the unit has been classified as "available...