One year on: Al Hilal Bank CEO Alex Coelho

The beauty of a bank of our size [1,500 staff, 100,000 customers, 25 UAE branches and three more in Kazakhstan] is that we don’t have a doubt on what we need to do. It’s just the pace of execution that’s important.” He lists his other key task as ... ( read original story ...)

Saudi reforms should bring flood of foreign funds next year

DUBAI (Reuters) - Saudi Arabia’s inclusion in global equity ... This should help Riyadh rebuild its financial reserves and fund investment plans after the 2014 plunge in oil prices that cut export earnings and deprived the banking system of funds. ( read original story ...)

Bank manager defrauds customer of Dh26m; jailed

Dubai: A bank branch manager has been jailed for five years and fined Dh26 million for embezzling an equivalent amount from a businessman using deceptive methods and forged documents over four years. The Emirati branch manager and his countryman ... ( read original story ...)

Dubai Islamic Q1 profit surges 16pc to $330m

Dubai Islamic Bank, the first Islamic bank in the world, has posted a net profit of Dh1.211 billion ($330 million) for the first quarter of 2018, up 16 per cent compared with Dh1.042 billion for the same period last year. Total income increased to Dh2.697 ... ( read original story ...)

Debate over $2tr Aramco IPO valuation hots up

David Hodson, Dubai-based expert in energy finance and managing director of BluePearl Management consultants, said: “There is always a lot of positioning around an IPO. With one this big and important, there are so many more moving parts. In particular ... ( read original story ...)

Dubai’s DIFC launches new drive to attract Asian investment

Dubai International Financial Centre (DIFC ... DIFC is also home to China’s four largest banks in terms of total assets - Bank of China, Agricultural Bank of China, ICBC and China Construction Bank Corporation. The new initiative also aim at offering ... ( read original story ...)

Emaar weakness outweighs strong bank results on DFM

Weakness in Emaar Properties ahead of the annual general meeting outweighed better than expected results from Dubai Islamic Bank and Emirates NBD, resulting in more than 1 per cent losses on the Dubai index. Emaar Properties, which has the highest ... ( read original story ...)