National Commercial Bank , Saudi Arabia's largest lender, has received regulatory approval to set up a subsidiary to engage in derivatives trading and repo activities, the lender said on Tuesday.
The Cayman Islands-based unit,
Oil prices will stay low for years to come, derivatives markets say, keeping a lid on inflation and helping boost global growth.
Oil has more than halved in value over the last year, thanks to huge oversupply, and many oil compani
UAE-based Menacorp, a leading financial services firm, has become the first brokerage firm in the region to receive derivative membership under international financial exchange Nasdaq Dubai.
It will act as a trading and clearing m
Kuwait's dinar rose sharply against the US dollar in the forwards market on Monday in response to news that the Kuwaiti central bank would allow local banks to deal in derivatives with foreign banks.
Al Rai newspaper in Kuwait
Kuwait's stock exchange plans to launch derivatives trading in the first half of 2014 using its new Nasdaq-backed trading system, a senior stock exchange official told Reuters.
Kuwait's bourse, one of the oldest in the Gul
The system of so-called "shadow banking," blamed by some for aggravating the global financial crisis, grew to a new high of $67 trillion globally last year, a top regulatory group said, calling for tighter control of
Aabar's disposal of its stake in Daimler earlier this month was triggered by a failed derivatives deal underpinning the Abu Dhabi investment firm's purchase of the shares, sources familiar with the matter said.
JP Morgan Chase & Co sacrificed investment chief Ina Drew on Monday in response to trading losses that could reach $3 billion or more and which have tainted the reputation of the bank's high profile chief executive Jamie Dimon.
JPMorgan Chase & Co CEO Jamie Dimon said his bank reacted badly to warning flags last month that it had large losses in financial derivatives trading, a $2 billion embarrassment that has given banking regulators new ammunition.
In an i