Sunday 1 May 2016
 
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GCC banking sector seeing new challenges

The regional banking sector has entered a new paradigm where we see margin compression, tightening liquidity, moderate asset and profit growth, limited capital market activity, greater focus on cost reduction, a report said. Howev

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Oman picks banks for first bond in 20 years

The government of Oman has chosen five banks to arrange the sultanate's first international bond issue in almost 20 years, sources aware of the matter said on Thursday. The upcoming US dollar-denominated issue comes as Oman, l

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EU mulls crackdown on banks, offshore tax advisers

European Union countries should consider taking tougher measures against banks and tax advisers who help their clients to hide money offshore, an EU Commission paper says. The document will be discussed at a meeting of EU finance

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Asian shares drop as banks come under pressure

Asian shares extended losses to three-week lows, while the yen soared to a 17-month high against the dollar as investors bet Japan would be hard pressed to drive down its currency in the face of widespread foreign opposition. &nbs

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UAE banks agree 'mini insolvency law' to help SMEs

Banks in the UAE will suspend legal action against small and medium sized enterprises (SMEs) struggling to repay debt for up to three months to prevent a surge in defaults that may jeopardise the economy. The initiative, which inv

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Saudi bourse asks banks to pitch for IPO advisory roles

The Saudi Stock Exchange has asked banks to pitch for roles advising on its initial share sale, sources familiar with the matter said, kicking off one of the region's most eagerly-anticipated flotations. Tadawul said in Decemb

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Banks must wake up to demands of digital age: expert

Banks must wake up to the way technology affects the daily lives of their customers, financial service decision makers were told in Abu Dhabi at an event designed to shape the industry’s future in the Middle East and North Africa.

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Moody's revises outlook on Saudi banks

Moody's Investors Service has changed its outlook for the Saudi Arabian banking system to negative from stable, according to its latest outlook research report, published today. The outlook reflects the rating agency's exp

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Qatar banks discuss lower repo rate with central bank

Qatari commercial banks are discussing with the central bank the possibility of reducing its repo lending rate as low oil and gas prices tighten liquidity in the banking system, market sources said on Thursday.  

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UAE economic growth seen at 3.9pc in 2015

Real economic growth in the UAE is estimated at 3.9 per cent year-on-year (y/y) for 2015, as real oil GDP growth continued to be affected by conditions in international energy markets, a report said. A resilient non-oil sector and

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