Coronavirus impact: UAE banks plan 10-15% cut in workforce
In the UAE, hospitality, real estate, retail and professional services sector have mostly seen layoffs in the last few months…
Comment & Analysis
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Shrinking interest margins hurt UAE bank profits
The UAE’s banking sector is facing challenges on its asset quality and profitability from COVID-19 and low interest rate environment,…
Will MENA Region Emerge as the Next Fintech Hub?
As the world braces itself for a potential global recession, it’s hard to countenance the idea of growth markets or…
Saudi banks face tough few quarters but are well capitalised, say CEOs
Saudi Arabia's banks face a tough few quarters as the coronavirus crisis and weak oil prices put pressure on profitability…
Tunisia cbank allows resident firms to borrow from abroad in foreign currencies
The Tunisian Central Bank said on Thursday it would allow locally based firms to borrow from abroad in foreign currencies…
Kuwait plans to drastically reduce expat population
As COVID-19 and low oil prices continue to rattle Gulf economies, the Prime Minister of Kuwait, Sheikh Sabah Khalid Al…
Dubai Islamic Bank to revive Islamic bond deal postponed amid market turmoil – sources
Dubai Islamic Bank has revived plans to issue a U.S. dollar-denominated sukuk, or Islamic bond, sources familiar with the matter…
Foreign institutions sustain bullish run on Qatar bourse
Foreign institutions’ substantially stronger buying interests yesterday sustained the bullish run in the Qatar Stock Exchange for the fourth consecutive…
'Qatar has flattened the curve, reduced virus impact by 75%'
Three months into the Covid-19 outbreak, Qatar has succeeded in flattening the curve and reducing the impact of the virus…
Abu Dhabi's economic priorities will not be influenced by COVID-19 hit
Getting hit by the COVID-19 outbreak does not mean Abu Dhabi will have to alter its economic and growth priorities,…
EBRD announces winners of the 2020 Sustainability Awards
Clients awarded for commitment to environmental and social sustainability 16 clients from 11 countries recognised for excellence Winners demonstrate innovation,…
MoneyGram partners Al Rajhi Bank in Saudi Arabia
MoneyGram International has announced that it has entered into a strategic partnership with Al Rajhi Bank, the largest Islamic bank…