LOOMING RECESSION: Difficult times ahead, Okonjo-Iweala warns
A former Minister of Finance and erstwhile Managing Director of the World Bank, Dr Ngozi Okonjo-Iweala, warns of difficult times…
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Egyptian bank enters region through Kenya
Commercial International Bank, Egypt’s largest private sector lender by assets, is targeting more buyouts in East Africa after completing acquisition…
Al-Jadaan reveals full extent of Saudi Arabia’s pandemic challenge
Mohammed Al-Jadaan, Saudi Arabia’s finance minister, has revealed the full scale of the challenges that face the Kingdom from the…
Fitch places two Egyptian banks on rating watch negative
Fitch has placed Egypt’s Commercial International Bank long-term issuer default rating, viability rating, national ratings and National Bank of Egypt's …
TISE listing is a first for ADGM funds industry
The International Stock Exchange has become home to the first fund established in the Abu Dhabi Global Market to be…
Virus may force Kuwait Finance and Bahrain’s AUB to reassess merger
One of the Middle East’s rare cross-border bank mergers may need to be reassessed after the coronavirus delayed the formation…
Mastercard study shows consumers in Middle East & africa move to contactless payments for everyday purchases, seeking touch-free payment experiences
During March, as many countries in the Middle East and Africa imposed necessary restrictions on social distancing, a significant majority…
Falcon may exit PB business
Zurich-based Falcon has announced it may exit the private banking business. ‘The Board of Directors and the Executive Committee…
Gold demand rises as investor buying spree offsets jewellery plunge- GFMS
Global gold demand rose in the first quarter as a surge in investment as the coronavirus outbreak convulsed global markets…
Egypt's NBE denies cancelling 15% yield certificates
The National Bank of Egypt continues to offer the new 15% annual yield savings certificates, the lender’s vice chairman Yehia…
COVID-19: UAE's ADIB bids on digital to drive Islamic trade finance
UAE lender Abu Dhabi Islamic Bank is renewing its focus on providing shariah-compliant trade financing in the region, driving in…
Saudi foreign reserves fall to lowest record in 20 years
Saudi Arabia’s Monetary Authority said on Tuesday that the kingdom’s net foreign assets, which include securities such as US Treasuries…