Abraaj Capital, the Middle East's largest private equity firm, has announced plans to expand further in India. Dubai-based Abraaj joined hands with Sabre Capital, a leading private equity firm in India, to form Sabre Abraaj Capital in 2006. Both...
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...
People in the UAE are known for their exuberant lifestyles, catching up with latest trends, buying new phones, cars, or designer clothes. Living within the means is something unheard of. But a recent survey has shown that behaviour is...
The last few years have seen trading move from minds to machines, from brains to bytes and from calling out orders to typing it in. This would mean that human interaction has been minimised with trading being carried out...
A group of Islamic scholars have proposed that banks' sharia boards create partnerships between the boards and Muslim depositors, to insulate the boards from pressure exerted by bank managements and counter allegations of conflicts of interest. Sharia boards, composed of...
The founder and chief executive of the world’s largest independent financial advisory organisation has today confirmed that he has acquired Acuma, one of the most successful wealth management firms in the United Arab Emirates. The deVere Group’s Nigel Green was...
  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...
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...
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...
Chinese rating agency Dagong announced it is tying up with US-based Egan-Jones Ratings Co. (EJR) and Russia's RusRating JSC to start a new rating agency. The new company called Universal Credit Rating Group will engage in producing responsible and...
Claims management can potentially reduce commercial disputes by up to 30%: Experts of Euler Hermes Middle East and SCHLÜTER GRAF Legal Consultants Euler Hermes, the world’s leading provider of credit insurance and other related...
Authorities in Libya announced on Thursday the scrapping of a limit on cash withdrawals, as part of plans to rebuild confidence in its banks amid liquidity crisis stemming from last year's war. "We have lifted the ceilings ... There are no...
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 Saudi cabinet gave its nod to the country’s mortgage law on Monday for the infrastructure industry on which it is spending around $500 billion to build and develop. The mortgage law stipulates the regulations to establish mortgage companies and...
Qatar National Bank is taking advantage of European banks' downsizing by extending its Middle East reach through acquisitions, a report said on Wednesday. According to a stock market filing on 30 August, the state-backed lender of Qatar, which is 50% owned by...
Global research firm IHS downgrades Egypt's banking sector to 'Significant Risk' on sovereign concerns. Sovereign risk constraint is 'significant' given the banking sector's substantial holding of sovereign debt, which stands at 40% of GDP. Outlook and implications. Bank-supplied credit to the economy...
According to recent estimates the global Takaful business will reach USD 20 billion by 2017. The GCC market contributes more than 62 percent of the world's gross Takaful premiums. Saudi Arabia maintained the largest share of contributions, growing 17 percent to USD...
What if I told you that based on my analysis, which is more or less my gut feeling, the debt that is held in the books of IBM, or Coca Cola (based on your preference) is safe? The next...
  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...
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...
The Abu Dhabi Investment Authority, one of the world's largest sovereign wealth funds, is ramping up its private equity activities after a relatively subdued period over the past two years, sources familiar with the funds' plans said. Staffing within ADIA's...
The world's leading regulated crowdfunding platform, Crowdcube has announced they are planning to expand in the MENA region. Crowdcube has formed a JV partnership known as Crowdcube MENA. Omar Rana; "We are currently examining various regions to assess the best...
Under the largest agreement between search engine giant Google and Spanish?s BBVA Banks, Google has persuaded 110,000-strong bank to use its enterprise software. This is the biggest deal which the Google Inc. has signed with one company to its cloud...
The creation of Mortgage Backed Securities (MBS) and Collateralised Mortgage and Debt Obligations (CMOs and CDOs) were lauded when they were created. They were based on the basic blueprint of a financial product. It is like having a way...
Dubai’s Islamic bond gains squash concerns that another real estate bubble may be forming. The Emirate’s real estate sector continues to perform strongly, but the IMF is warning the government to be ready for a timely intervention. In the aftermath...
The technological glitch at Knight Capital Group was not the first time that technology had reared its ugly head in trading and led to massive fluctuations in different stocks. Before that it was the flash crash of May when...
Ever since the LIBOR manipulation scandal came to the foray, there were two main concerns that were raised which had to be considered in the aftermath. The first one was how deep rooted the scandal was and how much...
Qatari banks are borrowing record loans from foreign lenders to shore up their funding as the tiny gas-rich nation starts preparations to host the 2022 football World Cup. According to Bloomberg News calculations based on central bank data, net interbank borrowing...
Jordanian central bank governor has denied reports of revaluing the currency or ending dinar's peg to the US dollar. The top banker insisted that a tight monetary policy will be maintained to preserve the attractiveness of dinar-denominated assets. "I think...
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...