Banking and Finance

Middle East banking and finance news and analysis, tenders, contracts awarded, commentary and economic data.

Banking and Finance - Latest 20 news stories

Abu Dhabi university raises $1bn
Project financing begins to pick up
Ratings agencies downgrade Dubai firms
Investment Corporation of Dubai invests $1bn in Emirates NBD
Bahrain completes $2bn Addur funding package
Abu Dhabi tourism company completes $1bn bond
Saudi bank lending falls for third month
Dolphin bond delayed for Abu Dhabi tourism company
Shuaa Capital settles dispute with Dubai Banking Group
Central Bank of Bahrain launches investigation into troubled banks
Dolphin Energy abandons pursuit of $500m Islamic loan
Russian bank opens office in Dubai to support contractors
Abu Dhabi tourism company hires banks for bond deal
Saudi Electricity receives $1bn loan for projects
Ratings agency downgrades Saudi Investment Bank
Shuaa rejects Dubai Banking Group’s $409m legal claim
Suspicious banking transactions rise in the Emirates
Mashreq Bank holds talks with firms over restructuring loans
Egypt cuts interest rates
Banks respond to International Petroleum Investment loan

Event blog: Abu Dhabi Conference 2008

MEED.com blog coverage of the MEED Abu Dhabi Conference 2008, focused on economic development in the UAE capital.

Banking

Special Report: Banking - Gulf institutions move to balance the books
Gulf banks should start lending
Cairo seeks strength through banking reform
Lebanese banks' profits boost domestic lending
Credit markets tighten further in the Gulf
Investment Corporation of Dubai invests $1bn in Emirates NBD
Saudi bank lending falls for third month
Shuaa Capital settles dispute with Dubai Banking Group
Central Bank of Bahrain launches investigation into troubled banks
Russian bank opens office in Dubai to support contractors

Currencies

Currency peg risks creating another banking crisis
Gulf union should set achievable goals
Monetary union at risk after Emirates withdraws support
Special Report - Banking: Short-term loans plug finance gap
Losing confidence in Libor
Local banks come to the fore
Dolphin refinancing to include $1bn bond
The Abu Dhabi vision
GCC Seeking consensus on monetary union
Single GCC currency is still years away

Debt Market

Ratings agencies downgrade Dubai firms
Abu Dhabi tourism company completes $1bn bond
Dolphin bond delayed for Abu Dhabi tourism company
Abu Dhabi tourism company hires banks for bond deal
Banks respond to International Petroleum Investment loan
Addur financing nears completion
Gulf International Bank plans to buy back bond
Dubai Aerospace Enterprise secures $450m loan for nine Boeings
RasGas mandates banks for bond deal
Bahrain increases bond issue to $750m

Insurance

Ratings agency raises concerns over Al-Futtaim Group
Al-Rajhi insurance listing oversubscribed
Takaful market to hit $7.7bn by 2012
Business Close-up: ONA Group
Scottish Widows targets Saudi insurance sector
Noor Islamic puts international expansion on hold
World Bank urges reform of Palestinian financial sector
Emirates Insurance plans to expand in UAE
UAE insurance sector set to maintain strong growth
Lehman exposure must be made public

Islamic Finance

Dolphin Energy abandons pursuit of $500m Islamic loan
Amlak Finance reports $19m loss in first quarter
Bahrain increases bond issue to $750m
Burgan signs $125m loan for oil rigs in Kuwait
Saudi Electricity to issue $1bn sukuk
Bahrain Islamic bankers
Regulating the Islamic finance sector
Dubai Islamic Bank buys back $51m sukuk
Gulf Finance House reports $38m loss
Investment Dar defaults on $100m sukuk

Private Equity

Gulf Capital raises $500m for private equity fund
Downturn offers an opportunity in the Gulf
Private equity’s $11bn cash pile
DP World plans private equity sale
The National Investor targets healthcare sector
Sphinx Egypt sets up distressed assets fund
Banks in Kuwait seek to restore confidence
Investcorp buys Riyadh jewellery manufacturer
Saudi bank invests $40m in Egypt’s Sigma Pharmaceuticals
UAE’s Rasmala raises $120m for private equity fund

Project Finance

Abu Dhabi university raises $1bn
Export agencies come to the fore in the region
Project financing begins to pick up
Bahrain completes $2bn Addur funding package
Shuweihat 2 to secure $1bn financing
Japanese export agency signs memorandum with Bahrain
Qtel receives $10bn of offers for bond sale
Bahrain invites bids for Muharraq wastewater plant
Nakilat closes $1bn ship financing deal

Regulation/ Central Banks

Investment Corporation of Dubai invests $1bn in Emirates NBD
Saudi bank lending falls for third month
Central Bank of Bahrain launches investigation into troubled banks
Special Report: Saudi Arabia - King's reforms gather pace
Riyadh is the Gulf’s new financial centre
Suspicious banking transactions rise in the Emirates
Egypt cuts interest rates
Tehran must woo foreign investors
Iraq: Banking sector reform project services
Regulating the Islamic finance sector

Special Report: Banking - Gulf institutions move to balance the books

The Gulf's 20 leading banks have formed a breakaway pack that has maintained its lead over the past 12 months. MEED's ranking of the top 20 GCC banks by asset size at the end of December 2008 features the same institutions that were on the list in 2007.

Other banking and finance special reports

Special Report: Saudi Arabia - King's reforms gather pace
Special Report: Saudi banking - Profits grow in first quarter
Special Report: Bahrain - Vision 2030 plan takes shape
MEED 100 Special Report: The Middle East's top 100 listed companies in 2009
Special Report - Banking: Short-term loans plug finance gap
Special Report: Qatar - Gas exports fuel economic growth
Special Report: Saudi Arabia - Industry plan enters key phase
Special Report: Sector outlook 2009
Special Report: How the credit crunch boosted Riyadh's influence
Special Report: Banking - Private banks beat financial turmoil
Special Report: Egypt - Banking sector reforms pay dividends
Special Report: Banking - The rise of Islamic finance
Special Report: Banking - Gulf bank growth accelerates
Special Report: Saudi banking - Results analysis
Special Report: Capital markets - The drive for credibility
Special report: Bahrain - Protests threaten reform
Special report: Sector outlook 2008
Special report: Banking - The impact of the credit squeeze

Commentary

Gulf banks should start lending
Baghdad is right to issue bonds
Tehran must woo foreign investors
Emirates have to build confidence
Gulf union should set achievable goals
Downturn offers an opportunity in the Gulf
Saudi monetary agency must take long-term view
Sama should back regional lending
Islamic banks risk losing ground
Regional states are right to issue bonds

Insight

The GCC in 2009: Facing up to the downturn
Can Islamic project finance challenge the conventional?