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Wednesday, 04 November 2009 14:11 UAE time

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Istithmar World senior manager jailed for five years

Banking & Finance
Judge hands down toughest sentence yet amid Dubai's crackdown on corruption.



Tuesday, 03 November 2009

No Saudi interest rate change in Q3 - central bank

Banking & Finance
SAMA says rate cut unnecessary to spur lending, held at 2% amid declining inflation.

No Saudi interest rate change in Q3 - central bank

Monday, 02 November 2009

Mashreq expands operations to Kuwait

Banking & Finance
UAE bank's arrival in Kuwait City part of growth plan, MENA branches now total 94 - CEO.

Mashreq expands operations to Kuwait

Saudi Arabia calls for strict banking regulations

Banking & Finance
Finance chief also says conservative lending regime needed prior to G20 regulation debate.

Saudi Arabia calls for strict banking regulations

Sunday, 01 November 2009

Shuaa Capital posts $73.2m Q3 loss

Banking & Finance
Dubai financial services firm chief says it has hired consultancy to help restructuring, form new strategy.

Shuaa Capital posts $73.2m Q3 loss

Senior banker warns UAE job cuts may not be over

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

Senior banker warns UAE job cuts may not be over

Thursday, 29 October 2009

Mashreq's Q3 net profit falls by 42%

Banking & Finance
UPDATE 1: Dubai's second largest bank by market cap says decline due to rise in loan provisions.

Mashreq's Q3 net profit falls by 42%

Wednesday, 28 October 2009

Cairo-based Citadel sets up investment funds

Banking & Finance
Company has invested $600m of own money into Mideast, East Africa-focused funds. 

Cairo-based Citadel sets up investment funds

RAK Bank posts 10% jump in Jan-Sept net profit

Banking & Finance
Ras Al Khaimah bank says increase due to growth in loans, mortgages, credit cards.

RAK Bank posts 10% jump in Jan-Sept net profit

Tuesday, 27 October 2009

Al Mal keeps short-term underperform on UAE's ADCB

Banking & Finance
Broker expects non-performing loans at Abu Dhabi Commercial Bank to continue to rise.

Al Mal keeps short-term underperform on UAE's ADCB

National Bank of Abu Dhabi posts 41% rise in Q3 profit

Banking & Finance
The Abu Dhabi-based lender posted a third quarter net profit of AED914m ($248.8m).

National Bank of Abu Dhabi posts 41% rise in Q3 profit

Oman's Bank Dhofar posts 2.2% drop in Q3 profits

Banking & Finance
The bank reported a small decline in third-quarter profits to 7.29 million rials ($19m).


ADCB announces big slump in Q3 profit

Banking & Finance
UPDATE 1: UAE's third largest bank by assets posts 90% fall in Q3 profit from hefty provisions against bad loans.

ADCB announces big slump in Q3 profit

Mashreq sees 'unprecedented' credit card skips

Banking & Finance
Bank sees rise in number of customers leaving UAE without paying off debts.

Mashreq sees 'unprecedented' credit card skips

HSBC chief sees start of Mideast recovery

Banking & Finance
Bank's regional chief executive Simon Cooper adds that he does not expect rapid economic rebound.

HSBC chief sees start of Mideast recovery

Monday, 26 October 2009

CIB eyes Egypt consumer banking rise

Banking & Finance
Egypt's biggest private bank by assets set to focus on organic growth, not acquisitions.

CIB eyes Egypt consumer banking rise

Algosaibi to seek Al Sanea default in NY court

Banking & Finance
Saudi family conglomerate Algosaibi will ask New York court for default judgment.

Algosaibi to seek Al Sanea default in NY court

Emirates NBD posts 3% rise in Q3 profit

Banking & Finance
UAE's largest bank by assets says Q3 net profit reached $285.9m despite rise in credit impairments.

Emirates NBD posts 3% rise in Q3 profit

Sunday, 25 October 2009

TIBC administrator confident but doubts persist

Banking & Finance
Law firm says it is wrong to assume there are ''few assets left'' at Bahraini lender.

TIBC administrator confident but doubts persist

Market cap of Arab bourses up 60% since March - UASE

Banking & Finance
UASE Sec Gen calls for better regulation and transparency levels to avert future downturns.

Market cap of Arab bourses up 60% since March - UASE

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SPOT POLL

What do you think about the offer of free legal advice to people caught in Dubai property disputes?

Amid the real estate gloom, this is the best news for months and will improve transparency.
This is a good move and should redress the imbalance between investor and developer.
By offering a free service, it will just encourage people to abuse the complaints system.
It's too little, too late and I doubt many people will actually qualify for the free advice.
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