Royal Bank of Scotland and two other banks have abandoned talks on restructuring Dubai Group's $10 billion debt and threatened to bring unprecedented legal action against the investment vehicle of Dubai's ruler, sources close to the matter
Bahrain-based Ahli United Bank (AUB) was announced a winner of the prestigious Straight Through Processing (STP) award by Commerzbank, one of Europe's largest financial institutions.
This is the fourth consecutive year AUB has received
Gold firmed in Europe on Thursday, reversing earlier losses, as the dollar weakened against the euro, sparking buying of the metal as an alternative asset.
Spot gold was bid at $951.30 an ounce at 1148 GMT, against $948.10 an ounce late in
The first-quarter results from two more European banks showed bad debts soaring in the face of tough economies.
Top European banks continued to show the impact of the looming recession as companies and consumers are increasingly running in
Allianz SE has agreed in principle to sell its Dresdner Bank unit to Commerzbank, a source familiar with the situation said on Friday, a deal that will fuse Germany's second- and third-biggest banks.
Commerzbank plans to take an initia
Commerzbank, Germany’s second biggest bank, has identified asset management and real estate finance as key areas of growth for the Middle East and North Africa (Mena region).
Corporate and investment banking will further fuel its growth, t
Bahrain accused foreign banks of unethically piling pressure on Gulf currency pegs and warned it would 'take action' against anyone targeting its dollar-pegged dinar, a magazine reported, citing the central bank governor.
Bahrain cut inter
Commerzbank, Germany’s second largest bank, has been granted a licence to open a new branch in Dubai International Financial Centre (DIFC).
As Commerzbank’s 21st branch outside its home country, the new unit is intended to allow the bank