ArabianBusiness.com - Middle East Business News
Saturday, 21 November 2009 09:51 UAE time

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Standard Chartered Bank

Main Category: Commercial Bank
First Address : PO Box 999
Second Address : Al Mankhool Road, Bur Dubai
City : Dubai
Country : United Arab Emirates
Phone: 971 4 3599550
Fax: 971 4 3526679
Website: www.standardchartered.com


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ALL STORIES LIST


StanChart to boost Mideast pvt banking business

Standard Chartered's private banking division to open offices in Qatar, Bahrain and Lebanon.

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Senior banker warns UAE job cuts may not be over

Standard Chartered consumer banking chief says country 'not out of the woods yet'.

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UAE banks facing up to $11bn liquidity shortfall

Banks suffering from bad debt due to unsecured lending - Standard Chartered.

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UAE economy set for 2010 'pleasant shock'

Leading economist says more upbeat about country's financial footing for next year.

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Standard Chartered in debt talks with Dubai firms

Companies may sell debt as early as next year, according to media reports.

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Changing times

Allowing overseas firms full ownership of their business in the UAE would open the door to FDI in the country.

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UAE loan defaults predicted to peak in Q3

Standard Chartered chief also says liquidity in banking sector is improving fast.

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$26bn projects 'to turn UAE into logistics hub'

Standard Chartered bullish over country's air and sea infrastructure schemes.

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Loan impairment surges at Standard Chartered ME ops

Despite ME hit, bank announces $1.7bn cash call to take advantage of business conditions.

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Oman tourism bucks global recession

The number of tourists visiting Oman has risen over the first five months of the year.

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S&P downgrade 'long overdue' - Standard Chartered

Dubai banks' ratings slash expected, little impact on credit spreads, bank says.

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Threat of GCC deflation averted - Standard Chartered

Analysts predict that inflation will stabilise in the low single digits during rest of 2009.

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Economist forecasts growth for Qatar economy

Qatar set to be 'star performer' among GCC economies, says Standard Charter boss.

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Bahrain bond 'signals renewed confidence in Gulf'

Standard Chartered says Gulf state's $750 launch is sign of recovery in region.

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Diversification plan set to boost Oman jobs - report

Standard Chartered sees employment opportunties in non-oil sectors.

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Dubai house prices 'may never return to 2008 peaks'

Standard Chartered says real estate market signs encouraging but further falls expected.

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Qatar 'could escape budget deficit' amid oil revival

Standard Chartered says recent upturn in oil price could result in 2009/10 surplus.

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UAE job losses set to continue amid recovery - analyst

More redundancies loom as jobs market catches up with real economy - Standard Chartered.

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Oman’s 2009 growth to hold steady at 2.5% - StanChart

Standard Chartered Bank positive on long-term development of economies like Oman.

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Banking on success

Shayne Nelson, the regional boss of Standard Chartered tells CEO Middle East how the bank aims to solidify its presence in the Middle East.

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Al Ghurair Group seals loan facility

Syndicated loan facility to be used to fund further expansion of Dubai’s mixed use Al Ghurair City.

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UAE inflation predicted to fall to 2.5% in 2009

New report from Standard Chartered sees drop being driven by food, house prices.

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More robust federal budget to aid UAE economy - StanChart

UK-based bank says recent gov't moves suggest better harmony among UAE's emirates.

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UAE gov't urged to act to improve liquidity - analysts

Standard Chartered says more than $27.2bn is needed to reduce loan to deposit ratios.

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UAE business sentiment 'on the rise' - StanChart

Economists say it is now vital for gov't to address shortage of liquidity in country.

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UAE banks offer higher interest for short-term deposits

Move will cut loan to deposit ratios that jumped inline with loose lending policies. 

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UAE banks need $27.2bn in 'liquidity boost' - analysts

Cash injection necessary to bring advances to deposit ratio below 100%.

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Kuwait to fall into recession predicts Standard Chartered

Gulf state's economy is in danger of recession if government cuts spending - economist.

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The big switch

Gulf states are reinvesting their petrodollars into green energy in a bid to become dominant energy suppliers.

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Qatar expects 10% GDP growth this year - paper

Gulf state eyes fastest real GDP growth in Gulf region on higher natural gas production.

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Wealth funds 'can play vital eco-friendly role'

Gulf's SWFs should take advantage of low equity prices to fund projects - analysts.

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Gebrselassie wins Dubai marathon but misses record

Ethiopian reigns in the rain to claim $250,000 first prize but $1mn bonus eludes him.

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Gulf region's 2009 growth forecasts slashed

Standard Chartered Bank cuts expectations, UAE reduced by 2% to just 0.5%.

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Recession in UAE cannot be ruled out - analysts

Global slowdown, weak oil price and cooling markets could result in negative growth.

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UAE 'likely to see budget deficit in 2009'

Standard Chartered says expenditure likely to overshoot amid collapse in oil price.

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Qatar steps on the gas

The small Gulf state is hoping that its natural gas reserves will cushion it from the worst of the fallout.

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Saudi inflation set to fall to 7% in 2009 - expert

Standard Chartered predicts rate fall as slowdown in kingdom's growth continues.

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UAE growth to slow to 2.7% in 2009: StanChart

Bank says growth to slow from estimated 4.8% in 2008, Saudi growth to drop to 2%.

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UAE growth predicted to slow to 2.7% in 2009

Standard Chartered expects slowdown but says country is in good shape to cope.

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Standard Chartered refuses to deny job cuts

Person familiar with matter tells Arabian Business at least 80 people have lost jobs.

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UAE growth to slow to 2.7% in '09

Saudi growth expected at 2% next year, while Qatar growth forecast at 4.5% - Standard Chartered.

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Dubai real estate correction 'very close'

But investors should view slowdown in market as buying opportunity - analyst.

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Game over

Global real estate markets are in decline and investors are fleeing the sector as the era of easy credit comes to a dramatic end.

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Standard Chartered, Aldar in mortgage deal

Bank to provide home financing for firm's properties, to be more selective of clients.

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Rollercoaster ride predicted to continue in Gulf

Volatility across regional stock markets likely to remain for next two months, say experts.

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Bank says it needs two weeks to sort ATM fraud cases

EXCLUSIVE: Standard Chartered sets up special task force for job.

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77% unhappy with banks' reaction to ATM fraud

Arabian Business poll reveals widespread criticism of response to UAE fraud crisis.

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ATM fraud victims slam 'inadequate security'

EXCLUSIVE: Tales of cash losses reveal methods of hi-tech gangs targeting UAE.

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Dubai house prices to fall 15%

Soaring housing prices in Dubai are likely to peak in 2009 before falling at least 15% - poll.

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Dubai's GMMOS in $46mn in sharia- compliant loan

Ship-finance loan jointly arranged by Standard Chartered and Noor Islamic Bank.

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Is the Gulf ready for home-grown subprime?

Price inflation in the real estate market needs to slow down otherwise the consequences could be severe.

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Nakheel resales ban could be extended

Sales restrictions on Trump tower could be broadened to include future Nakheel launches.

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Bank issues warning on 'destabilising' property speculators

UPDATE 1: Call for 50% capital-gains tax on profits of short-term property sales.

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UAE GDP revision reveals data issues

Shock change to key growth measure prompts call for improvements to economic data releases.

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Mideast buckling under weight of inflation

Gulf states launch emergency efforts to control prices, Egypt inflation hits 19.7%.

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Ditching dollar peg a boon for region

Region's import dependence and high remittance make depegging good news, analysts say.

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Different challenges

There are many reasons for one to be positive about the prospects of Gulf Co-operation Council (GCC) economies.

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UAE bond sales aim to deepen debt markets

Ras Al-Khaimah prices $272mn of sukuk; Abu Dhabi unveils second bond sale.

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RAK plans $2bn Islamic bond sale

UAE emirate plans five-year sukuk sale, proceeds to be used to fund infrastructure projects, source says.

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Bahrain's IIFM to host review of landmark contract

Islamic financial regulator to host review of first standardised Islamic contract.

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Standard Chartered, Asteco on 2008 and beyond

To put the results of ArabianBusiness.com 2008 Property Survey in perspective, Joel Bowman asked the insiders...

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Tabreed names banks for Islamic bond sale

Dubai-based National Central Cooling Company announces plans to sell up to $500mn of sukuk.

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UAE staying pegged - official

Gov't accepts committee recommendation to stay pegged to ailing dollar at current rate.

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Dubai to borrow $4bn for infastructure development

Dubai set to begin roadshows for first tranche of medium-term note programme.

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In hard times, global banks lean on Asia

With the US economy flatlining, Asia appears to be the silver lining in increasingly gloomy times.

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Indian expat wages risk further slump

Expected rate hikes in India set to drive up value of rupee, cutting relative value of salaries in Gulf.

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UAE money supply skyrockets

Supply growth surges at second-fastest pace in five years, up more than a third at end of December.

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House prices to climb 15% this year

Dubai property market facing years of undersupply that is driving up prices, says Standard Chartered.

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Dewa loan syndication closed

State-owned utility shuts syndication of $2bn one-year Islamic loan, banking source says.

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Abu Dhabi Group snaps up Georgian bank

Group buys Standard Bank from the private equity group Salford Capital.

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Qatar freezes rents in inflation battle

No increases permitted for two years on any rental contracts signed after 2005, cabinet decrees.

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HK’s Islamic New Year

Hong Kong is hoping to get one step ahead of the Middle East by turning itslef into an Islamic finance centre. So far, the signs are good with high level talks already underway. But can it really succeed? Heda Bayron reports from Hong Kong.

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Qatar studying 'major' currency change

Gulf Arab state could move without other GCC members, ruler's economic advisor says.

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Mixed reaction in Gulf to US slowdown

Recession in world's largest economy could be both negative and positive for region, analysts say.

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Building empires

Standard Chartered has opened a small to medium business banking centre after its portfolio grew 400%.

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Dubai Sports channel covers marathon with HD Cineflex

Dubai Sports channel used a HD Cineflex V14 last month to cover the Standard Chartered Dubai Marathon - the world's richest running event with a prize fund of US $1million - live.

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Gulf to revalue currencies by April

Standard Chartered predicts Gulf Arab states will revalue together, expecting appreciation of 8%.

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Under administration

The region's fund managers are making more use of independent custodians and administrators, and demanding increasingly sophisticated services, ABF discovers.

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The road ahead

The talking point of 2007 was how expensive life in Dubai had become. Will 2008 be the same? Our team of financial experts have the answers.

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The economists on 2008

To gain insight into the state of the Gulf economy in 2008 who better to turn to than the region's leading economists. David Westley asked HSBC's Simon Williams, Standard Chartered's Mary Nicola, EFG Hermes' Monica Malik and Moody's' Tristan Cooper to give us their views on what 2008 holds in store for businesses across the region.

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Drowning in debt

Debt is a fact of life for tens of thousands of expatriates living in the UAE. The lifestyle makes it virtually impossible to start up a life in the Emirates without borrowing money from the bank - be it through a credit card or a loan. Diana Milne analyses the repercussions and the possible solutions.

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ABCIB and Standard Bank in Libya’s first international project finance

ABC International Bank and Standard Bank have closed a US$16 million seven-year project finance facility for the Al Waddan Hotel in Tripoli - the first international project finance transaction to close in Libya.

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Investment Dar funds Asian expansion

Kuwaiti firm proposes launch of $300mn murabaha facility to target region.

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Sharia success

Islamic products are big business with local and international banks keen to get onboard.

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Customer isn’t king

The most crucial element of personal banking - decent customer service - has been left behind on the shelf by UAE lenders.

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Bitten by the greenback

Not moving is the key to not being bitten by a rattlesnake, a trick central banks have adopted with the declining greenback.

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Gulf funds could lose out to China

Sovereign funds are likely to lose influence to China's growing state war chest, economist says.

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Rocketing money supply adding to inflation

Investors are pouring cash into assets denominated in Gulf currencies in bet on revaluation, bank says.

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Sovereign funds grow in influence

Sovereign wealth funds (SWFs) are likely to have a growing influence on financial markets, and could increase sixfold from their current value of US$2.2 trillion to $13.4 trillion in 10 years' time, according to a study by Standard Chartered Bank.

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Gulf likely to cut rates, pressure on currencies mounts

Gulf Arab states to follow any interest rate cut by US, economist predicts.

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Skills poaching prompted by rebar futures contract

Brokers and banks attempting to lure trading experts from UAE steel firms.

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Building empires

Standard Chartered Bank has opened a small to medium business banking centre after its SME portfolio grew 400% in 3 years.

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Standard Chartered partner Dubai Land

Leading bank signs deal as approved bank for Dubai Land Department.

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Hot seat: Steve Brice

The Standard Chartered economist talks about how a move away from the dollar peg would affect the UAE's economy.

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First Kuwaiti sukuk programme

The first Kuwaiti sukuk programme has been introduced.

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Ri$ky business

An introduction to the financing method which provides the cash for new capacities.

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Standard Chartered urges government to act on bad debt

Official says government should 'take the initiative' to stem rising tide of bad debt in the UAE.

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Money clinic

Every month we provide a step-by-step guide to a different financial product. In this month's Money Clinic - we examine personal loans.

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Standard Chartered raises UAE inflation forecast

Bank predicts inflation of 9.3% for 2007, claims Abu Dhabi rent cap not helping tenants.

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WINDOWS investigates: UAE internet banking

If you're looking to set-up an online bank account in the UAE, read on as the WINDOWS team checks out some of the market's current offerings and suggests which of these you can bank on.

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Deals on wheels

The complete guide to the cost of motoring - from buying to car insurance to the new road toll.

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Gulf oil revenues to stay in dollars

Despite the weak dollar Gulf producers will continue to receive 100% of oil revenues in the US currency.

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Gulf states still back the greenback

Most Gulf central banks look set to ride out dollar weakness, although Kuwait may opt for a second revaluation.

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NIG to raise $1.5bn from Islamic bonds

Kuwait's National Industries Group looks to finance expansion plans.

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Egypt billionaire eyes Saudi Pak bank stake

Naguib Sawiris is among four parties competing for a majority $100m stake in the bank.

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Standard Chartered to move jobs to Dubai

The Asia-focused bank is to move 50-100 jobs to its new UAE office from London.

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A new dawn

Banks are rapidly expanding their Islamic banking portfolios as sharia-compliance gains worldwide recognition.

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UAE to keep US dollar peg

Update: The Emirates' central bank is set to maintain its currency pegged to the dollar, ending speculation.

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UAE in spotlight after Kuwait currency shift

Gulf markets are watching the UAE to see if it too drops the dollar peg.

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StanChart launches Islamic brand

Standard Chartered launches Saadiq brand in the Middle East and first Islamic credit card globally.

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An unconventional truth?

How long will it be before Sharia-compliant investment becomes the market's dominant force?

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Bank Muscat profit surges 43.8%

Oman's largest lender reports a first-quarter profit of $49.53m.

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Brent crude edges up as Iran worries grow

Fears over the direction of the country's nuclear ambitions halted this week's fall in oil prices.

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Batelco secures expansion funds

Bahraini telecommunications service provider Batelco has secured a US$485million loan to fund its regional expansion plans, it announced last week.

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Standard Chartered appoints chief advisor

Standard Chartered Bank has appointed Sultan Al Suwaidi as its chief advisor focusing on high-level strategy issues.

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Kuwait, UAE cut interest rates

Move is designed to ease pressure on the currencies ahead of a possible revaluation.

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Kuwait cuts dinar repo rate

Move will deter speculators betting on a revaluation of the dollar-pegged currency.

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Best of both worlds

The CEO of Standard Chartered Middle East and North Africa, explains how Islamic products are bringing greater opportunities to regional trade.

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Borrowers beware

Personal loans can provide a quick fix in times of need, but if you don't read the small print you could find yourself paying more than you ever bargained for.

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Kuwait may counter dinar speculation

Unspecified measures could curb profits on currency purchases made on revaluation hopes.

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EBI plans $57m Thai bond

Emirates Bank International plans to issue a 2-billion baht-denominated bond next week.

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DIFC Islamic finance course launched

Standard Chartered Bank to run course at DIFC to teach understanding of Islamic banking principles.

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Standard Chartered global profit up 19%

Standard Chartered’s UAE business grew 32% last year which led to the bank announcing significantly increased global profits of US$3.17bn for the year ending December 31 2006.

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Branching out

Retail banks are having to manage their branches better as they run out of space on the high street.

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Paving the way

Public private partnership could be the next big opportunity for ME financial institutions.

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Rising costs raise privatisation fears

PPPs are under threat, says a leading finance expert.

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DIB picks debut sukuk managers

Standard Chartered is among those who will manage the Dubai Islamic Bank's inaugural U.S. dollar sukuk.

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Credit boosts Abu Dhabi tourism

Abu Dhabi tourism development and investment to be boosted by syndicated credit facility for new projects

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Setting the standard

Nigel Jones, the incoming CEO of Standard Chartered Bank UAE, explains how he intends to bring his experience of banking in other regions to benefit his new role.

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Emerging focus

Standard Chartered Bank has a long history of working in the Middle East and emerging markets. MONEY met with Christos Papadopoulos, the bank's global head of financial institutions, to discover why 90% of its profits are generated from those regions.

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The Man Behind The Bank

Standard Chartered Bank has a long history of working in the Middle East and emerging markets. Alexandra Dubsky meets Christos Papadopoulos to discover why 90% of its profits are generated from those regions.

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Auto financiers expand retail product offerings

...

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Autofinance: Clear cut deal?

The UAE’s “auto ownership mania” has made the country a prime international market for carmakers – a business opportunity which has not escaped the local retail bankers. With a plethora of auto financing packages currently available in the marketplace, are car buyers getting a good deal?

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Dubai market is healthy

Standard Chartered Bank’s Steve Brice shares his insight for Dubai’s future property investment climate.

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Bank keeps pace with marathon deal

Standard Chartered bank has renewed its deal to be title sponsor of the Dubai Marathon for another three years.

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For a few dollars less

Will the GCC single currency peg itself to the struggling US dollar? Alexandra Dubsky examines the pros and cons.

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To peg or not to peg?

Should a future single GCC currency be pegged to the US Dollar or not? Alexandra Dubsky contemplates the pros and cons

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Standard Chartered

...

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Solid gold solution

RFID technology has enabled one company to spread its new finance model to jewellery stores in Dubai. Daniel Stanton talks to them.

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Stanchart enjoys healthy profits

Operating income and revenue show strong growth

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READER COMMENTS

  1. Somali pirates free UAE-owned cargo ship 02
    21 Nov ' 09 at 07:58
    In the old days pirate ships were blown out of the water as soon as spotted.Now they have to wait until they attack a ship and then...   More  »
  2. UAE announces Eid and National Day holidays 01
    20 Nov ' 09 at 15:56
    Eid and National Day are two great occassions and very close to each other. It would be a great act for the UAE authorities to extend...   More  »
  3. Where have all the optimists gone? 01
    20 Nov ' 09 at 16:54
    Dubai unfortunate is not more in fashion, the bubble was big , the growing went fast and the down turn even faster.Many of my clients...   More  »

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Gitex 2009

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