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...
U.S. authorities have revealed that two companies with major operations in India, and GCC banks, were targeted by a cell of global cyber criminals. EnStage Inc and ElectraCard Services are the two companies which were affected by the USD 45...
The Qatar Investment Authority (QIA) is believed to be actively seeking new acquisition targets across the world to diversify its already growing portfolio of assets. A new report by the KPMG, revealing investment trends of sovereign wealth funds (SWF’s) in...
A top government official has revealed that Oman is considering the issuance of a U.S. dollar-denominated sovereign bond, which would mark the return of Sultanate to the international bond market. Speaking to Reuters, Omani finance minister Darwish al-Balushi stated that...
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,...
Source Information Services (Source) latest report reveals the combined GCC consulting market grew by 18 percent between 2011 and 2012 and is now worth just short of $1.9bn. This follows strong growth in 2010-2011, and Source expects it to...
  A new report has predicted that Qatar will soon become a "key international distribution hub" for Shariah-compliant products as the Islamic finance market grows at an unprecedented pace. Qatar Financial Centre Authority in its first 'Mena Asset Management Barometer' suggests...
As Islamic banking gains a strong foothold in Oman, the central bank has given the Islamic financial institutions a one-year relaxation on stringent rules governing the holding of foreign assets. The decision has been made to facilitate the domestic development...
The recent global economic downturn has changed investment destinations and modes of investment for investors and investor groups. With the U.K., Europe and Japan still mired in recessionary uncertainty, the U.S. offers a stable investment destination for investors in...
  More than 250 Islamic finance industry leaders will gather at the 3rd Annual Middle East Islamic Finance and Investment Conference (MEIFIC 2013) to be held on April 17, 2013 at the Dusit Thani Hotel in Dubai. The theme of this year's conference...
  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...
Seizing depositor's funds in Cyprus as a condition for the country to secure a €10bn loan from the EU and the IMF to rescue it's banks would be unjust and set a “dangerous precedent” warns the chief executive of...
The Euromoney Kuwait Conference, ‘Financial Sustainability, Regulatory Capacity – the Challenge of Change’ takes place April 8, at the JW Marriott, Kuwait. The event is co-hosted by the Ministry of Finance of the State of Kuwait. The Fifth Euromoney...
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...
Money, it’s a gas Grab that cash with both hands and make a stash New car, caviar, four star daydream Think I’ll buy me a football team -Pink Floyd As the wealth of countries of the GCC matures, a new kind of market is...
If anyone would have talked to Warren Buffet in 2007, he might have come off as a person out of touch and someone who was set in his ways. His lack of interest in the newly created financial products...
Turkey's bid to become a part of the European Union is taking longer than expected, but it may be a 'blessing in disguise' for eurozone countries. The fiscal crisis seen in eurozone countries after the worldwide financial crisis stalled...
The government of Dubai has announced its plans to establish a central Sharia board to oversee all Islamic financial products used in the emirate. The move is also expected to further develop an interest in the Islamic financial markets by...
It seems that the European countries are now seeing the A-word with disdain and retribution as they have rejected the ideas of limited government spending and more burdensome tax schemes again and again. The latest episode comes courtesy of...
The Fed is facing a new problem seeing the pursuit of its expansionary monetary policy. At one hand, it has liquidated the markets with bond buying which is the only ploy it can use in order to stimulate the...
It seems like as more stones are turned over and the aftermath of the global financial crisis keeps unravelling, there is an abundance of fraud and malpractices to be seen everywhere. Only last week, the rating agencies were dragged...
But risk of sovereign defaults linger and concern about government intervention grows. Fund managers have turned more optimistic about the prospects for equity returns while remaining negative on world growth and medium-term government bonds, according to a global survey of...
The tale of black swans and finance might be seen as abrupt and sudden but the concept plays an integral part in the definition of finance overall. The term was coined by Nassim Taleb and is one of the...

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...
The recent G-7 summit and announcement has put forward a new question in the economic world and it seems to be one that has been recurring throughout the history of international trade and finance. Is there another currency war...
There is a sense of karma and justice in the new lawsuits being pursued by the American government against S&P. The rationale for the lawsuit is that the ratings that were given to some of the securities that led...
The Dubai Financial Market General Index rose 16.3% to 1887.6 points at the end of January compared to 1622.5 points at the end of December 2012. At the sectoral level, indexes of six out of the nine sectors represented on...
A new survey has revealed that the Saudi Arabian consumer remains one of the most optimistic about the state of their personal finances. The findings are part of third annual Emerging Consumer Survey, conducted by Credit Suisse Research Institute. It...
Growing competition, lower margins, slowing down market activity and a high influx of staff from foreign firms in the local market, is posing considerable challenges for the financial consultancy business in the UAE. Speaking to The National, Ian Gomes, KPMG's...
César Pérez, EMEA Chief Investment Strategist at J.P. Morgan Private Bank, looks back at the events of 2012 and examines the case for the European credit market’s “fallen angels.” Introduction “As 2012 comes to a close, we look back at the...
ADIB Securities, the brokerage subsidiary of Abu Dhabi Islamic Bank (ADIB), announced today that it has ranked number one among other brokerage firms in terms of value of shares traded on UAE stock markets. Official data released by the...
Qatar National Bank (QNB) Group, the leading financial institution in the Middle East and North Africa continued to record robust growth in profitability, with Net Profit for 2012 exceeding QR8.3 billion, up by 11.1% compared to 2011. QNB Group's Key Financial...
A new UAE court ruling has stopped the acceptance of 'security' cheques submitted by banks as a criminal tool against debt defaulters. The court ruling is only applicable to security cheques and any bounced cheques submitted to cover monthly,...
Fiscal cliff is a term used to refer to the economic effects that could result from tax increases, spending cuts and a corresponding reduction in the US budget deficit beginning in 2013 if existing laws are not changed by the end of...
Note: this article is the continuation of the series The Case for Short Selling: Muddy Waters LLC  20th November 2012: The equity of Olam International had already taken a huge hit and on the 20th it was the day for the bond...
The recent proceedings taking place at Olam and Muddy Waters reads like a good quality thriller rather penned by Stephen Frey himself mixed in with cross borders trading and some mafia work thrown in for good measure. In this...
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...
There is a reason why the investors of the world cringe at the sight of the word insider trading. It is like the investors and participants involved in the capital markets are agreeing to the fact that they are...
The capital markets are skeptical but hopeful for a better future. Seeing the dismal reports of recession in Japan and the job reports in US, the investors feel that better is yet to come. A  rebound was seen in...
The fundamental challenge that was seen after the global financial crisis of 2008 was the fact that there was a need for regulation. The same sentiment was heard when the banks started using dangerous strategies and trades in order...