Top Financial Services News

Banks Face Tougher Times As Caution Grips Lending

Though the apparent lack of funding is hitting the banking sector, the indirect impact related to the downturn in the property market is a greater issue, a report released by EFG-Hermes said. Gulf News - 02Dec 07:34GMT
Local Banks Not Cutting Jobs As Business Holds Up

UAE bankers said on they haven't planned any job cuts to face up to the challenges posed by the global economic downturn and credit crunch that has embroiled some of the world's major banks and wiped trillions of dollars from the global financial system. Gulf News - 02Dec 05:40GMT
Aabar Acquires Stake in AIG Private Bank Ltd

Aabar Investment PJSC ("Aabar") announced the signing of a binding agreement to acquire AIG Private Bank Ltd. ("AIG Private Bank") from its parent company American International Group, Inc. ("AIG") Press Release - 01Dec 12:52GMT
DIFC Posts Electronic Transactions Law for Public Consultation

The Dubai International Financial Centre (DIFC) today released its proposed Electronic Transactions Law for public consultation. Press Release - 01Dec 12:51GMT
Barclays Wealth: Improvement In MENA Environment For Entrepreneurs

A new report published by Barclays Wealth and the Economist Intelligence Unit (EIU), entitled "The Entrepreneur in Adversity", reveals that the MENA region has seen the largest improvement in the environment for entrepreneurship over the past decade. Press Release - 01Dec 11:05GMT
T'azur plans operation from next month

T'azur Company will start offering products and services from mid-January, a senior official at the company announced. Arab News - 01Dec 06:12GMT
Europe Arab Bank Adopts Strategy Of 'Positive Survival'

The London-based Europe Arab Bank, a branch of the Jordan-based Arab Bank Group, has adopted a strategy of "positive survival" to cope with the effects of the credit crunch, the global financial crisis and the recession that is dogging the UK. Arab News - 01Dec 06:09GMT
Al Aman Fund seeks to increase beneficiary base

Jordan's Her Majesty Queen Rania emphasised the need to expand Al Aman Fund for the Future of Orphans' financial resources in order to absorb the increase in the number of its beneficiaries. Jordan Times - 01Dec 05:45GMT
Qatar National Bank adds two new branches

Qatar National Bank (QNB) announced the addition of two new full-service branches to its network. The new branches are C-Ring Road branch, located at C-Ring Road next to Al Mana light signals. The Peninsula - 01Dec 05:30GMT
'Future Of Micro Finance In Mideast Promising'

Low risk, good returns and a low volatility would drive growth of micro finance as an asset category in the region amid the ongoing financial crisis. Emirates Business 24/7 - 01Dec 05:29GMT

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Funds

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Leading Fund

Fund	Vision Emerging Oman Fund
Geographic Focus	Oman
Fund Manager	Vision Investment Services Company
NAV	0.94 OMR \| 30Nov08
YTD Returns	- 28.95%
Vision Emerging Oman Fund is the leading fund in Oman on the Funds Monitor in terms of 1-Month returns.
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Research

Al Rajhi Bank
Banque Audi - Nov 2008

Banque Audi issues a BUY recommendation on Al Rajhi Bank with a target price of SAR 78.8, representing a 45.9% upside potential to the current market price of SAR 54. The bank is expected to achieve FY08 net profit of SAR 6.968 billion, compared to SAR 6.451 billion for FY07. The stock is currently trading at a PE of 11.61x.

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Video

EFG Report on Gulf Banking Sector

Arabic language (0:52)
Report: EFG-Hermes signals the end of huge financial gains era in Gulf Banking Sector - 30Nov

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Radio

Microfinance Across The Region

Royston Braganza, CEO of Grameen Capital India, explains where Grameen fits into the microfinance picture, and why the lending model has relevance across the region.
Dubai Eye - 30 Nov 2008

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Community Buzz

Stories in Financial Services

Most read stories by Community in the last 24 hrs

1	Outstripping Supply?
2	Good News Comfort Dubai Investors
3	'Future Of Micro Finance In Mideast Promising'
4	Barclays Wealth: Improvement In MENA Environment For Entrepreneurs
5	Europe Arab Bank Adopts Strategy Of 'Positive Survival'
6	Seera buys UK water treatment firm for $200m
7	Aabar Acquires Stake in AIG Private Bank Ltd
8	Morgan Stanley cuts local jobs
9	BNP Paribas named 'Global Bank of the Year' by The Banker magazine
10	Gulf Arabs Told Not To Help Out Struggling Economies

Companies in Financial Services

Most viewed companies by Community in the last 24 hrs

Company Name	Country	Industry
Abu Dhabi Investment Council	UAE	Investment Firms and Funds
Dubai Islamic Bank	UAE	Banking
Qatar Investment Authority	Qatar	Investment Firms and Funds
Abu Dhabi Investment Authority	UAE	Investment Firms and Funds
International Petroleum Investment Company	UAE	Investment Firms and Funds
Al Rajhi Investment Group	Saudi Arabia	Investment Firms and Funds
Al Hilal Bank	UAE	Banking
Abu Dhabi Investment Company	UAE	Investment Firms and Funds
Bank Audi	Lebanon	Banking
Arab National Bank	Saudi Arabia	Banking

Projects

Most viewed projects by Community in the last 24 hrs

Project Name	Country	Sector
Dubai RTA - Dubai Metro - Purple Line	UAE	Infrastructure
Emirates Aluminium (EMAL) - Smelter Complex	UAE	Industry
Qatar Foundation - Sidra Hospital	Qatar	Real Estate
IPIC - Abu Dhabi Crude Oil Pipeline (ADCOP)	UAE	Oil and Gas
KNPC - Al Zour Refinery	Kuwait	Oil and Gas
Abu Dhabi Municipality - Salam Street and Mina Road Development	UAE	Infrastructure
Qatalum Aluminum Smelter	Qatar	Industry
Nakheel - Dubai Waterfront	UAE	Real Estate
Ras Tanura Integrated Refinery and Petrochemicals Complex	Saudi Arabia	Oil and Gas
ADCO - SAS Field Development	UAE	Oil and Gas

Blogs

Most read blogs by Community in the last 24 hrs

1	Off topic – The National - Human testing
2	How Does the Current US Recession Size Up?
3	It's not enough for Muslims to be revolted by terror
4	A SWOT Analysis On Real Estate
5	No proxy for GCC single currency

Zawya Network

385 members in Financial Serv.

UAE
Dim Forecast
Morgan Stanley, Credit Suisse and Goldman Sachs have already cut about 10% of their regional staff as the prospects for next year's fees dim.

Revenues Lost
Plummeting equity markets, log-jammed credit business and real estate correction are combining to undermine banking fees.

Funds
The Long View
Despite poor market performances, the appetite of investment fund managers to source new funding has not disappeared.

Company Ranking

Ranked by Market Cap | No. of Employees | Total revenue

	Company	Country	Market Capital ($mil)
1	Privatization Holding Company	Kuwait	291
2	Arab International Company for Education and Investment	Jordan	209
3	Saudi Printing and Packaging Company	Saudi Arabia	208
4	National Leasing Holding	Qatar	140
5	Educational Holding Group	Kuwait	128
» View Full List

Related Information

Financial Services Companies (1696)

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EIU Forecast For Financial Services Sector

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