Edition:
United Kingdom

Saeed Azhar

UAE bank bailout signals sector restructuring, mergers

07 Jan 2019

DUBAI Smaller banks in the United Arab Emirates are facing regulatory pressure to merge after the fallout from a property downturn forced the state to lead a bailout of Invest Bank last month.

UPDATE 1-Saudi Arabia's biggest bank NCB in merger talks with rival Riyad

24 Dec 2018

RIYADH/DUBAI, Dec 24 Saudi Arabia's National Commercial Bank (NCB), the kingdom's biggest lender by assets, has begun preliminary discussions to merge with smaller rival Riyad Bank, the two lenders said on Monday.

Doha Bank to cut construction exposure, keep UAE branches: CEO

11 Dec 2018

DOHA Doha Bank will cut its exposure to construction companies to 10 percent from 17 percent of lending in the next three years, its CEO said on Tuesday, part of efforts to adjust to a building industry downturn following a slump in oil prices.

Doha Bank to cut construction exposure, keep UAE branches -CEO

11 Dec 2018

DOHA, Dec 11 Doha Bank will cut its exposure to construction companies to 10 percent from 17 percent of lending in the next three years, its CEO said on Tuesday, part of efforts to adjust to a building industry downturn following a slump in oil prices.

Qatar Investment Authority has accelerated investments in technology: CEO

10 Dec 2018

DOHA The Qatar Investment Authority (QIA) has accelerated its investments in technology and is keeping the door open to strategic partnerships for technology investments, its CEO said on Monday.

Oman sovereign fund eyes defensive sectors amid risks for global economy

10 Dec 2018

DOHA, Dec 10 Oman Investment Fund (OIF) may target defensive sectors such as healthcare and insurance in the short-term as more downside risks emerge for global economy, its chief strategy officer said.

Qatar's Commercial Bank to raise up to $1 billion in debt next year -CEO

09 Dec 2018

DOHA, Dec 9 Qatar's Commercial Bank could raise up to $1 billion in debt next year by tapping a range of various debt instruments, as the country's third-largest lender by assets aims to further diversify its funding sources, the bank's chief executive said.

Exclusive - Abraaj founder Naqvi pitches last-ditch rescue bid to investors

28 Nov 2018

DUBAI Arif Naqvi, founder of troubled buyout firm Abraaj, is making a last-ditch effort to rescue the remaining business of what was once one of the largest investors in emerging markets.

DBS to almost double staff, triple revenue of Mideast private banking

27 Nov 2018

DUBAI DBS , Southeast Asia's largest bank, said it would almost double its Dubai private banking staff in its bid to triple revenue for those operations in the Middle East by 2023, capitalizing on a shift of investments towards Asia.

Mideast ride-hailing firm Careem working with Jefferies: sources

20 Nov 2018

DUBAI Middle East ride-hailing firm Careem has been working with investment bank Jefferies as an adviser on investment options and fundraising, including a potential mergers and acquisition deal in the region with Uber Technologies Inc [UBER.UL], three sources familiar with the matter said.

World News

As shutdown lingers, Pelosi pushes Trump to delay State of Union speech

With the partial U.S. government shutdown now in its 26th day, House Speaker Nancy Pelosi on Wednesday urged President Donald Trump to reschedule his State of the Union address - a move that could deny him the opportunity to use the pageantry of the speech to attack Democrats in their own chamber over the impasse.