Iraq acknowledges abuses committed against civilians in Mosul campaign

:: Iraqi Prime Minister Haider al-Abadi’s office said on Thursday a unit of the security forces committed “abuses” against civilians during the offensive to oust ISIS insurgents from the More »

UAE Minister: Qatar must end politicization of Hajj after King Salman initiative

:: The UAE’s Minister of State for Foreign Affairs, Anwar al-Gargash, said on Thursday that Qatar’s politicization of Hajj must come to an end following the initiative taken by More »

Iran reform leader Mehdi Karroubi on hunger strike over 6-year house arrest

:: Iranian opposition leader Mehdi Karroubi, under house arrest for the past six years, was hospitalized Thursday after going on hunger strike a day earlier to demand a trial More »

Who is Abdullah Al Thani, descendant of ruling family which built modern Qatar?

:: Sheikh Abdullah bin Ali bin Abdullah Al Thani is the second son of the late Emir Ali bin Abdullah Al Thani, the grandson of the Emir of Qatar, More »

De Mistura: October will be ‘decisive’ in Syrian crisis

:: The United Nations hopes for a “serious negotiation” between the government and a still-to-be-formed unified Syrian opposition in October or November, UN Special Envoy Staffan de Mistura said More »

 

Category Archives: Banking

UAE’s Union National Bank opens Shanghai branch

:: Union National Bank (UNB), 50 percent owned by the Abu Dhabi government, has begun operations at its branch in Shanghai, becoming the first bank from the UAE to operate a branch in mainland China, the bank

Fund outflow pushes Qatar bank to offer new certificates of deposit

:: Qatari financial institutions are under pressure following the sanctions imposed by Arab Gulf states, leadint to outflow of funds. The boycott which began two months ago led some companies and individuals to withdraw money from Qatari

Oman takes $3.55 bln China loan to cover budget deficit

Oman Central Bank.

:: Oman on Wednesday announced it has taken out a $3.55-billion loan from Chinese banks to cover its budget deficit for the current fiscal year. The sultanate had originally planned to raise $2 billion on the Chinese

IMF: Countries must avoid protectionism ‘at all costs’

:: The International Monetary Fund warned world leaders Friday to avoid resorting to protectionist measures “at all costs” due to the damage it would cause to their own and the global economy. At a time when United

Qatar’s $300 bln conundrum: How long can Doha defend its currency?

Qatar Central Bank

:: When is $300 billion not enough? That question is key to Qatar’s future as some bankers and hedge funds speculate the super-rich state’s vast financial reserves may not be liquid enough to defend its currency in

Egypt’s central bank hikes key interest rates by 200 basis points

:: Faced with an eroding currency and accelerating inflation, Egypt’s central bank raised its key interest rates by 200 basis points for the second policy meeting in a row late on Thursday, the bank said in a

High measures to block ‘ransomware’ attack across Arab banks

:: Banks and financial institutions in the Arab countries have taken precautionary measures in order to anticipate the unprecedented electronic attacks that some banks have experienced directly in the region. Al Arabiya traced the developments of these

Euro rallies after Emmanuel Macron wins French election

:: The euro rallied to $1.1010 from $1.0998 in early forex trading in Asia on Monday after pro-European centrist Emmanuel Macron won the French presidency, scoring a resounding victory over far-right rival Marine Le Pen. The 39-year-old’s

IDB, ITC agree to work together on joint projects

:: Jeddah-based Islamic Development Bank (IDB) and the International Trade Center (ITC) have agreed to work together to implement joint projects and strengthen the competitiveness of small and medium-sized enterprises (SMEs) in member countries. This was announced

Qatar National Bank to seek Saudi investment banking license

:: Qatar National Bank (QNB), the Middle East’s biggest bank by assets, said on Thursday it planned to apply for an investment-banking license in Saudi Arabia, where low oil prices are expected to encourage more asset sales

Remittances from Egyptians abroad rise by 13.8 pct since November

:: Egyptians have risen 13.8 percent since the central bank floated the pound in November, the central bank said in a statement on Tuesday. The central bank said remittances were $8 billion pounds in the five months,

Dollar speculation in Egypt on the decline

Despite the fact that the Egyptian Central Bank had not released any figures regarding the dollar trade on the black market, unofficial estimates revealed that speculation on the US currency in the black market have recorded nearly

US, global financial leaders skirt trade frictions, tout collaboration

Global economic leaders on Friday continued downplaying possible friction with the Trump administration over currencies, trade and other potentially contentious issues, even while acknowledging that much about the US president’s plans remains unclear. On a day when

HSBC predicts 100 Saudi Arabian listings in privatization drive

Saudi Arabia’s privatization drive is likely to result in around 100 new stock market listings in sectors including mining, healthcare and retail, a top HSBC executive said on Monday. Georges Elhedery, HSBC’s chief executive for the Middle

Trump administration says no US trading partners manipulate currency

US President Donald Trump’s administration declined to name any major trading partner as a currency manipulator in a highly anticipated report on Friday, backing away from a key Trump campaign promise to slap such a label on

US banks report solid earnings, still hopeful on Trump agenda

Strong trading results, rather than lending, was the driving force behind solid earnings reported by large US banks Thursday, as executives expressed measured optimism about the prospects for President Donald Trump’s pro-growth agenda. JPMorgan Chase and Citigroup

Islamic Development Bank announces prize winners for science, technology

The Islamic Development Bank (IDB) said three institutions have won this year’s prizes for science and technology, and each will receive $100,000 and a trophy. The institutions are from Indonesia, Malaysia and Sudan, the Jeddah-based institution said.

Swiss watchdog: Probes of money laundering jump in 2016

Switzerland’s financial markets watchdog says it investigated 22 breaches of money laundering requirements last year, from nine in 2015, as the Alpine country seeks to combat the growing risk of corruption linked to assets from around the

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