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
Standard & Poor's Ratings Services has revised its outlook on JPMorgan Chase & Co to negative from stable, the latest blow to the bank after it revealed a shocking $2 billion trading loss from a failed hedging strategy.
JPMorgan Chase & Co, the biggest US bank by assets, said it suffered a trading loss of at least $2 billion from a failed hedging strategy, a shock disclosure that hit financial stocks and the reputation of the bank and its CEO, Jamie Dimon.
ICAP, the world's largest interdealer broker, has opened an office in Dubai with a financial futures and options team, as the British firm seeks to expand its derivatives business in the Middle East.
ICAP said on Wednesday its Dubai office