Thursday 10 July 2014
European bank

EU bank, IDB unit to launch $120m fund

The European Bank for Reconstruction and Development (EBRD) and the private sector arm of the Islamic Development Bank (IDB) will launch a $120 million fund to support small businesses in the southern and eastern Mediterranean region.


SocGen plans $300m sukuk in Malaysia

Societe Generale will launch a 1 billion ringgit ($300 million) Islamic bond programme in Malaysia, two sources familiar with the deal told Reuters, becoming the second major European bank to issue sukuk and the first to do so in Asia.


Gold falls below $1,600 after Cyprus rescue

Gold fell on Tuesday as safe-haven demand ebbed after Cyprus clinched a last-ditch rescue deal, while the European Central Bank worked to allay anxiety that the bailout could have negative implications for other euro zone states.


SocGen wins best ME banker award

Societe Generale, one of the largest European financial services groups, has been voted best private bank in the region by the Banker Middle East magazine following online votes received from a thousand readers. This is the third award won


European banks eyeing Saad Swiss unit assets

Europe's banks are examining ways to reclaim funds from Saudi Arabia's Saad Group, and may take control of its Swiss subsidiary, Saad Investments, a source familiar with the situation said. 'Lenders are looking at their options

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