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Emerging Markets

Turkey, China set eyes on $100 bln in mutual trade
02/23/2012
Pressure on China to this end is on the rise as Turkey is not the only country complaining about Chinese products swamping their markets. C

Major Kuwaiti bank to buy 70 pct of Eurobank Tekfen-sources
02/23/2012
The stake sale comes as Greek banks, hit by the country's sovereign debt crisis, look to boost their capital base to cope with a protracted recession and rise in non-performing loans.

BofA sees opportunities as Chinese companies expand
02/22/2012
The prospect of Chinese companies mobilizing the country's massive financial resources and going on a shopping spree has captured imaginations around the world, particularly in economies still struggling from the fallout of the global financial crisi

ABC Bank Egypt targets tripling market share in 3 years
02/21/2012
The Cairo-based and listed lender will expand investment banking activity and introduce new retail banking products which will be offered through five new branches to be opened till 2015. It will also increase its share in financing government projects, t

Siraj Capital Dubai Files Winding-Up Petition
02/20/2012
A first hearing in the case is scheduled for Wednesday, the DIFC courts' website says.

BNI to open a branch in Saudi Arabia
02/16/2012
The state-owned enterprise has not decided yet whether the branch will be fully affiliated with the local bank there or not.

S&P says euro crisis will hurt GCC development
02/15/2012
The banks, which have typically supplied the majority of funding to infrastructure projects, are finding themselves with scant capital to invest, said Stuart Anderson, the ratings agency's managing director for the region.

Kuwait Energy makes new oil find
02/13/2012
The Al Jahraa-1X well was drilled at 12,210 feet depth and showed commercial flow rates of 835 barrel of oil equivalent per day (boepd) in the initial testing for production. Commercial production will kick-off once Kuwait Energy receives customary regula

The project to turn Turkey’s megacity into an international finance center is coming to fruition
02/13/2012
ome 30,000 people will be employed in the IFC project, designed to carry architectural flavors of Istanbul’s historic landmarks Topkapi Palace and Grand Bazaar.

Euroclear Bank teams with Standard Chartered for UAE cash clearing services
02/13/2012
The service will provide highly competitive clearing deadlines for Euroclear Bank's clients from more than 90 countries when settling transactions in AED. Efficient clearing will be facilitated through Standard Chartered's state-of-the-art platf

De Beers profits from diamond boom
02/11/2012
De Beers produces more than a third of the world's rough diamonds from mines in South Africa, Botswana, Namibia and Canada

Abu Dhabi set for world’s biggest BMW Group showroom
02/08/2012
Making it all even more luxe will be several BMW, MINI and Rolls-Royce models that will be displayed for the first time ever in the Emirate.

Former Merrill Lynch banker to promote Qatar as rival to the City
02/08/2012
Famed for his "little black book" of City contacts, was also appointed one of David Cameron's ambassadors last year and advised the Mayor of London on measures the City should take to remain globally competitive.

Dubai abandons $10bn debt restructuring
02/06/2012
Dubai's government has walked away from the $10bn (£6.3bn) debt restructuring of one of its biggest conglomerates, leaving creditors, including the Royal Bank of Scotland (RBS), with exposure to potentially big losses.

DLA Piper advises on privatisation of Kuwait Stock Exchange
02/03/2012
The firm won the mandate following a contested bid, which is said to have involved around three other international firms.

State Bank of India opens two more branches in Saudi Arabia & Qatar
01/31/2012
Mr. Hemant Contractor, the Managing director of SBI said, the Indian banking sector plays a very important role for trade and finance in the Gulf region and the Middle East.

Bahrain attracts over US$300 million of investments in 2011
01/31/2012
Despite the global economic crisis and the challenging period for Bahrain in 2011, the Kingdom of Bahrain continued to secure significant foreign investment throughout the year, with a significant number of businesses setting up in the Kingdom through the

MENA Will Stand Stronger by the end of 2012
01/31/2012
Mr. Jakobsen says: "We feel confident that MENA will stand stronger on both accounts at the end of 2012 but first we may need to go through a period of increased volatility. This leads us to a very defensive investment outlook not from a fear of the

Saudi fiscal surplus may soar by over 17 times
01/30/2012
Surge will be a result of a sharp rise in revenue due to strong oil prices

HSBC making it easier for Kuwait to do business with China
01/29/2012
"demand for China's currency, the Renminbi, is increasing and as restrictions are lifted, it is on course to become one of the world's global currencies within a few years".