Burgan Bank, a subsidiary of KIPCO (Kuwait Investment Projects Company), announced the launch of its new Visa Platinum Debit card giving more convenience to the bank's Premier customers, as part of the re-launch of the Premier Banking to provide its (...)
Al Baraka Bank Sudan, one of the banking units of Al Baraka Banking Group BSC (ABG), elected Mr. Adnan Ahmed Yousif, President & Chief Executive of Al Baraka Banking Group as Chairman of the Board of Directors to succeed late Mr. Othman Ahmed (...)
BP, the Official Oil and Gas Partner for the London 2012 Olympic and Paralympic Games, has announced the signing of agreements with the Egyptian Olympic Committee and the Egyptian Paralympic Committee to support the national team and selected (...)
Suez Canal Insurance renewed the insurance policy of Sidi Krir Electric Power Plant, with value of EGP 2.4 billion.
Moshira Ma'mon, director of engineering sector, said that the insurance policy covers fire, machines breakdown and civil liability (...)
The Federal Deposit Insurance Corp. said on Tuesday that bank earnings increased by $26.3 billion in the October-December quarter, and rose to $119.5 billion for the entire year, posing a 40% increase compared with the previous year and the most (...)
HSBC is scaling down its private banking operations in the Middle East, two sources told Reuters, and HSBC said its top private banker in the region had been reassigned to London.
HSBC, Europe's biggest lender, has decreased the number of (...)
Barclays Wealth has announced today the appointment of Philippe Hofer as Managing Director and Market Head for Africa Offshore within International Private Bank, Europe Middle East and Africa (IPB EMEA). Based in Geneva, Philippe will have a dual (...)
UK Financial Ombudsman body showed on Tuesday that complaints from customers dissatisfied with their financial institutions increased by 41% on the year before. Lloyds received the most complaints among UK financial companies in the second-half of (...)
National bank of Egypt (NBE) said that its credit facilities supporting tourism capital will be increased to EGP 150 million by the end of this February, compared with EGP 75 million in the former month, which is offered to 19 touristic (...)
The exclusive Limited Edition Qatar Turbine, especially crafted in tribute to the discerning watch aficionados of Qatar by Perrelet, the master creator of elite timepieces, is on display at the Al Majed Jewellery stand at the Doha Jewellery and (...)
The Export Development Bank of Egypt (EDBE) plans to create “golden investment fund" with EGP 50 million capital, increasable in the public offering, in the second quarter of the current year for investing in government debt instruments such as (...)
United Gulf Bank (UGB) achieved a net profit of US$1.5 million for 2011 (for the12 months ended 31 December, 2011), a fall of 96% over the US$ 38.7 million in 2010, with a similar decrease in basic earnings per share to 0.18 cents from 4.71 cents in (...)
HSBC Holdings Plc, which generated 61 percent of its pretax profit from Asia last year, may increase its staff in the Asia-Pacific region by as much as 5 percent by the end of 2013, said Peter Wong, the U.K. bank's chief executive officer for the (...)
Frank O'Halloran will step down as chief executive officer of QBE Insurance Group Ltd. and will be replaced by QBE's global head of underwriting John Neal on Aug. 17, the Sydney-based company said in a statement today. QBE shares have been halted (...)
Commenting on El-Ganzouri's statement in parliament on last Sunday, Central Bank of Egypt (CBE) said the USD 10 billion transferred outside Egypt are owned by Arab and foreign investors, who transferred the money to their countries after selling (...)
Royal Bank of Scotland (RBS.L) plans to close its Australian fixed income, commodity and currency (FICC) trading desk and move some of the 80 affected employees and trading to desks in Singapore and London, in a move to reduce its losses.
RBS, 82 (...)
Hundreds of thousands of people who take sleeping pills just twice a month are nearly four times more likely to die prematurely, according to new research.
The study, published in the journal BMJ Open, analyzed 10,500 people taking a wide-range of (...)
The International Monetary Fund on Monday approved the payout of a $4.33 billion loan to Ireland, the latest installment in a three-year $30.23-billion program to support the country amid the tough financial reforms.
After the fund's executive board (...)
Britain will end "aggressive tax avoidance" schemes used by banks from the profit they can make buying back their own bonds. Barclays Bank has been ordered by the Treasury to pay half-a-billion pounds in tax which it had tried to avoid.
Barclays was (...)
The National Bank of Cambodia (NBC) was advised not to license new banks to strengthen the supervision and enhance the country's existing banks by the International Monetary Fund in a press release issued on Tuesday.
"For Cambodia, the main (...)
National Bank of Egypt received three loans applications from 3 insolvent factories in Beni Suef to lend them EGP 9 million needed to turn the production wheel in their units.
Mohsen El-Gebaly, chairman of Beni Suef investors association, said that (...)
Ahli United Bank Group (AUB) achieved USD 310.6 million in net profits, which is the highest rate AUB has ever achieved since it was established in 2000, with 17% growth rate, compared with profits achieved in 2010. AUB registered USD 70.3 million (...)
Momtaz El-Saeed, minister of finance, said that the prime minister Kamal El-Ganzouri will amend in the upcoming days the economic reform program prepared by Ministry of Finance, to be submitted to the International Monetary Fund (IMF) to have EGP (...)
National Bank of Egypt (NBE) offered donation package of EGP 1.2 million to Magdi Yacoub Institute for research into the causes and treatment of cardiac disease, among NBE's social responsibility programs in contributing to provide health care free (...)
Silent movie The Artist has triumphed at the Oscars, winning five awards including best picture, best director and best actor for Jean Dujardin.
Director Michel Hazanavicius - winning on his first ever nomination - thanked the dog, Uggie, who (...)