Tuesday 9 February 2016
 
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EFG wins big at Mena Fund Manager Awards

EFG Hermes, a leading investment bank in the Arab world, has won prestigious awards Mena Fund Manager Awards recognizing its performance in 2015. The esteemed industry recognition also included a regional precedent of awarding the company the top “Mena Asset Manager”.

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Qatar ‘will act to maintain liquidity if needed’

Authorities in Qatar will use fiscal policy and money market operations if needed to prevent low oil and gas prices from causing a liquidity crunch in the banking system, the governor of the central bank (QCB) was quoted as saying. Money market rates have risen sharply as flows o

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Gulf Finance opens new office In Jeddah

Gulf Finance Saudi Arabia, a provider of Shariah-compliant lease and installment facilities to small businesses, has opened its new head office and branch in Jeddah, marking three years of operations in the Kingdom. The company first established a presence in Jeddah in 2012 and e

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Visa launches open platform for developers

Visa has announced the launch of an open access platform which will offer software application developers access to industry leading payments technology, products and services by Visa. The new Visa Developer platform is designed to help financial institutions, merchants, and tech

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Mashreq posts $653m net profit in 2015

Mashreq, one of the leading financial institutions in the UAE, said it has maintained a steady performance in 2015 amid difficult market conditions with a solid net profit of Dh2.4 billion ($653 million) over the previous year. Announcing the financial results for the year ending

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12 nations sign Trans-Pacific Partnership trade deal

The Trans-Pacific Partnership, one of the world's biggest multinational trade deals, was signed by 12 member nations on Thursday in New Zealand, but the massive trade pact will still require years of tough negotiations before it becomes a reality.   The TPP,

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Chamber aims to boost Bahrain-France relations

Business networking luncheons at the newly established French Chamber of Commerce and Industry in Bahrain (FCCIB) have kicked off with the first in the series being held at the Capital Club Bahrain in Bahrain Financial Harbour. In the presence of French Ambassador Bernard Regnaud-Fabre, FCCIB

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20pc increase in money laundering cases in Bahrain

There was a 20 per cent increase in suspicious financial transactions reported in Bahrain last year compared to 2014, according to a special unit that monitors money laundering cases. A total of 1,044 suspicious transaction reports (STRs) were registered last year compared with 872 in 2014, t

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Western Union, Viber in cross-border money transfer deal

The Western Union Company, a leader in global payment services, and Viber, a leading mobile messaging app, has signed an agreement to offer a fast and simple way to send money to friends and family virtually anywhere in the world from the convenience of the Viber app.  

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Saudi currency devaluation would carry major political risk

A devaluation of Saudi Arabia's currency could cause such political instability that Riyadh has little choice but to stick to its promise to use vast foreign exchange reserves to defend the riyal's 30-year-old peg to the US dollar.   Currency traders hav

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