An RSS feed generated from the news aggregator for CPI Financial http://www.cpifinancial.net/news Fri, 17 May 2013 00:00:00 -0500 Fri, 17 May 2013 15:05:15 -0500 copyrights 2013 CPI Financial. All rights reserved. en The banking system in Qatar has been robust, with a compounded annual growth rate (CAGR) of 20 per cent in assets from March 2008 - March 2012 and another 20 per cent in the year to March 2013. Higher energy prices and increased gas production have funded a large public spending program, which has driven credit growth and resulted in overall asset gains, according to QNB Group's report, Qatar Economic Insight 2013. http://www.cpifinancial.net/news/category/commercial-banking/post/20725/qatars-banking-system-robust-asset-quality-good-qnb-group net.cpifinancial.news.news-20725 Sat, 18 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Shares in state-backed Lloyds Banking Group rose above the level which the government sees as its break-even price after its 20.5 billion pound ($31.4 billion) rescue of the bank, raising hopes of a sale this year. http://www.cpifinancial.net/news/category/commercial-banking/post/20719/shares-in-lloyds-bank-hit-uk-government-break-even-price net.cpifinancial.news.news-20719 Fri, 17 May 2013 00:00:00 -0500 CPI Financial News Channel Economics Commercial Banking Saving pocket change may not end the euro zone crisis, but the European Commission hopes that scrapping the smallest coins could help penny-pinching governments cut costs. The European Commission outlined proposals this week for the 17 euro zone countries to scrap their 1 and 2 cent coins, leaving 5-cent pieces as the smallest in circulation. http://www.cpifinancial.net/news/category/commercial-banking/post/20718/euro-zone-explores-scrapping-smallest-coins net.cpifinancial.news.news-20718 Fri, 17 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Consumer Banking Economics The Bank of London and The Middle East (BLME), Britain's largest standalone Islamic bank, is targeting 15 percent growth in assets this year, with plans for a Dubai office to help boost its capital markets and wealth management offerings. http://www.cpifinancial.net/news/category/commercial-banking/post/20714/blme-eyes-15-per-cent-asset-growth-stronger-gulf-ties net.cpifinancial.news.news-20714 Fri, 17 May 2013 00:00:00 -0500 CPI Financial News Channel Islamic Finance Commercial Banking Wealth Management Egypt's central bank cancelled an auction of 182- and 364-day treasury bills on Thursday, a move one analyst said was linked to a decree limiting the amount of Egyptian pounds that banks can channel into money market funds to buy T-bills. http://www.cpifinancial.net/news/category/commercial-banking/post/20710/egypt-cancels-t-bill-auction-after-decree-hits-funds net.cpifinancial.news.news-20710 Fri, 17 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Investments Atlantis, The Palm, is raising an $850 million syndicated loan to refinance existing debt and provide new funds, banking sources said on Thursday. Dubai's iconic island resort is refinancing a $700 million, 12-year term loan that was signed in July 2005 and priced at 160 basis points (bps) over LIBOR. http://www.cpifinancial.net/news/category/commercial-banking/post/20709/atlantis-the-palm-seeks-850-million-loan net.cpifinancial.news.news-20709 Fri, 17 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking NBK Capital MENA’s analysts says the rise in fair value for Doha Bank is mainly due to a higher dividend payout in their forecast horizon (68 per cent versus 49 per cent previously), following the QAR 1.55 billion capital injection (through a 25 per cent rights issue that was completed in March 2013). http://www.cpifinancial.net/news/category/commercial-banking/post/20706/nbk-capital-mena-increases-fair-value-of-doha-bank-by-seven-per-cent net.cpifinancial.news.news-20706 Thu, 16 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Investment Banking Qatar National Bank (QNB) has announced its Platinum sponsorship of the third National Conference on Internal Auditing 2013 to be held at the College of the North Atlantic Qatar from the 18th to 20th of May. http://www.cpifinancial.net/news/category/commercial-banking/post/20685/qnb-platinum-sponsor-of-3rd-national-conference-on-internal-auditing-2013 net.cpifinancial.news.news-20685 Thu, 16 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking The International Monetary Fund’s (IMF) latest review of Bahrain recommends the buildup of additional cushions in vulnerable banks to reduce risks. The size of the financial sector remains a key structural vulnerability of the banking sector. Wholesale banks’ assets equal 480 pe rcent of GDP and retail banks’ assets total 270 per cent. To date, swings in international banking flows, especially the contraction of wholesale banks, have only affected Bahrain via associated job losses. http://www.cpifinancial.net/news/category/commercial-banking/post/20682/bahrains-banking-sector-is-in-good-health-says-imf-but-needs-capital net.cpifinancial.news.news-20682 Thu, 16 May 2013 00:00:00 -0500 CPI Financial News Channel Economics Consumer Banking Investment Banking Commercial Banking Emirates NBD (ENBD), Dubai's biggest lender, plans to tap global debt markets for its first capital-boosting bond issue, as Gulf banks take advantage of tight pricing and high investor demand to shore up capital ratios. http://www.cpifinancial.net/news/category/commercial-banking/post/20677/emirates-nbd-mandates-for-potential-tier-1-bond net.cpifinancial.news.news-20677 Thu, 16 May 2013 00:00:00 -0500 CPI Financial News Channel Markets Commercial Banking UK Prime Minister David Cameron is "open to all ideas" for returning Royal Bank of Scotland to private ownership but its finances must improve first, he told reporters on the last day of a three-day visit to the United States. http://www.cpifinancial.net/news/category/commercial-banking/post/20676/uks-cameron-open-to-ideas-on-rbs-stake-disposal net.cpifinancial.news.news-20676 Thu, 16 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Markets Dubai Islamic Bank Group (DIB) has announced that its Long Term Issuer ratings have been affirmed by Moody’s at Baa1. The bank ratings, put on a review late last year when Moody’s took action on all major Dubai-based banks, have now been affirmed and the outlook has been moved to “Stable” indicating no further pressure on the ratings. http://www.cpifinancial.net/news/category/commercial-banking/post/20674/dubai-islamic-bank-ratings-affirmed-by-moodys net.cpifinancial.news.news-20674 Thu, 16 May 2013 00:00:00 -0500 CPI Financial News Channel Islamic Finance Commercial Banking The United States blacklisted two Dubai-based trading companies on Wednesday, accusing them of helping Iran evade financial sanctions and effectively cutting them off from the U.S. financial system. http://www.cpifinancial.net/news/category/commercial-banking/post/20672/us-targets-two-uae-firms-over-dealings-with-blacklisted-iran-banks net.cpifinancial.news.news-20672 Thu, 16 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Economics HSBC Bank Oman recently hosted HSBC Bank Middle East's (HBME) Board of Directors' meeting at its Head Office in Al Khuwair. http://www.cpifinancial.net/news/category/commercial-banking/post/20667/hsbc-bank-oman-hosts-hsbc-middle-easts-board-meeting net.cpifinancial.news.news-20667 Wed, 15 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Consumer Banking SmartStream Technologies, the financial Transaction Lifecycle Management specialist, has announced the global roll-out of its TLM Accounts Receivable solution to help banks deliver a holistic receivables management solution to their corporate clients. http://www.cpifinancial.net/news/category/commercial-banking/post/20650/new-accounts-receivable-solution-from-smartstream net.cpifinancial.news.news-20650 Wed, 15 May 2013 00:00:00 -0500 CPI Financial News Channel Technology Commercial Banking Al Khaliji Commercial Bank (al khaliji) has announced its third consecutive year as Platinum sponsorship for the series of activities, organised by the International Academy for Intercultural Development (IAID) in association with the Friends of the Environment Centre to mark the World Environment Day (WED) celebrations in Qatar from May 25 to June 5. http://www.cpifinancial.net/news/category/commercial-banking/post/20646/al-khaliji-platinum-sponsor-of-wed-2013-celebrations net.cpifinancial.news.news-20646 Wed, 15 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking HSBC said on Wednesday that the bank would target an additional $2 billion to $3 billion in cost savings between 2014 and 2016, as the bank axes jobs and sells noncore businesses with less than a year left in the first phase of its restructuring plan. http://www.cpifinancial.net/news/category/commercial-banking/post/20640/hsbc-targets-an-extra-2-3-billion-in-cost-savings-by-2016 net.cpifinancial.news.news-20640 Wed, 15 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking In its latest analysis of Qatar National Bank, NBK Capital MENA said, “Our fair value of QNB remains broadly unchanged at QAR 156.80 per share, implying modest upside potential of 10 per cent, thus we maintain our ‘Hold’ recommendation on the stock. http://www.cpifinancial.net/news/category/commercial-banking/post/20637/nbk-capital-mena-says-fair-value-of-qnb-broadly-unchanged net.cpifinancial.news.news-20637 Tue, 14 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Markets The former head of the International Monetary Fund (IMF) Dominique Strauss-Kahn arrived in South Sudan on Monday to open a new bank, marking, reported the Sudan Tribune, a rare return to the financial world. http://www.cpifinancial.net/news/category/commercial-banking/post/20635/ex-imf-chief-strauss-kahn-in-juba-south-sudan-to-open-bank net.cpifinancial.news.news-20635 Tue, 14 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Standard & Poor's Ratings Services has lowered its long-term counterparty credit ratings on National Bank of Egypt (NBE), Banque Misr (BM), and Commercial International Bank (Egypt) S.A.E. (CIB) to 'CCC+' from 'B-'. The agency affirmed the short-term counterparty credit ratings on the three banks at 'C'. The outlook on the three banks is stable. http://www.cpifinancial.net/news/category/commercial-banking/post/20634/s-p-cuts-rating-on-egyptian-banks-after-action-on-sovereign-outlook-stable net.cpifinancial.news.news-20634 Tue, 14 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking BNP Paribas and Les Amis de la Sorbonne Abu Dhabi have renewed their partnership for the third year in a row and jointly host a Banking and Finance Lecture on the 13th May at Paris-Sorbonne University Abu Dhabi. http://www.cpifinancial.net/news/category/commercial-banking/post/20621/bnp-paribas-les-amis-de-la-sorbonne-abu-dhabi-deliver-banking-and-finance-lecture net.cpifinancial.news.news-20621 Tue, 14 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Kuwaiti investment house Investment Dar said on Tuesday it had offered to give creditors a stake in a portfolio of assets in exchange for their debt as an alternative to an offer made under a 1 billion dinar ($3.5 billion) debt restructuring plan agreed in 2011. http://www.cpifinancial.net/news/category/commercial-banking/post/20619/kuwaits-investment-dar-offers-new-settlement-to-creditors net.cpifinancial.news.news-20619 Tue, 14 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Partnership to provide financial assistance to handpicked students and train them for careers in financial services http://www.cpifinancial.net/news/category/commercial-banking/post/20617/national-bank-of-fujairah-launches-sponsorship-programme-for-emirati-nationals-from-hct net.cpifinancial.news.news-20617 Tue, 14 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking UNB has been a regular sponsor of the Abu Dhabi Industry Award organised by Higher Colleges of Technology. http://www.cpifinancial.net/news/category/commercial-banking/post/20614/union-national-bank-sponsors-abu-dhabi-industry-award-2013 net.cpifinancial.news.news-20614 Tue, 14 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Fitch Ratings, the international credit rating agency, has affirmed Ahli Bank’s long-term Issuer Default Rating (IDR) at 'A-' with 'Stable Outlook'. http://www.cpifinancial.net/news/category/commercial-banking/post/20608/fitch-affirms-ahli-banks-credit-rating-at-a- net.cpifinancial.news.news-20608 Tue, 14 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Citadel Capital has announced that core platform company Mashreq Petroleum has signed a 25-year concession agreement (extendable for a further five years) with the East Port Said Port Authority that will allow it to build the first independent tank terminal in Egypt. http://www.cpifinancial.net/news/category/commercial-banking/post/20607/mashreq-inks-agreement-to-build-fuel-bunkering-terminal-and-logistics-hub net.cpifinancial.news.news-20607 Tue, 14 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking The Job Fair took place at GUST's Main Hall at its campus in Mishref whereby 35 companies participated. http://www.cpifinancial.net/news/category/commercial-banking/post/20606/gulf-bank-concludes-platinum-sponsorship-of-gust-spring-job-fair net.cpifinancial.news.news-20606 Tue, 14 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Barclays Plc, the first bank to settle with authorities over alleged manipulation of the Libor interest rate, on Monday won the dismissal of a U.S. lawsuit by shareholders who claimed they lost money because of the British bank's activity. http://www.cpifinancial.net/news/category/commercial-banking/post/20599/barclays-wins-dismissal-of-us-shareholder-lawsuit-over-libor net.cpifinancial.news.news-20599 Tue, 14 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Commercial Bank of Dubai (CBD) could price its debut international bond offering on Tuesday after releasing initial price guidance for a benchmark-sized issue, a document from lead managers said on Monday. http://www.cpifinancial.net/news/category/commercial-banking/post/20596/commercial-bank-of-dubai-cbd-sets-initial-price-guidance-for-debut-bond net.cpifinancial.news.news-20596 Mon, 13 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Markets Saudi Arabia's central bank has asked commercial banks to increase localisation of some functions as Riyadh pushes to move more of its citizens into jobs now done by expatriates, a banker in the kingdom said on Monday. http://www.cpifinancial.net/news/category/commercial-banking/post/20593/saudi-central-bank-pushes-banks-to-reserve-more-jobs-for-locals net.cpifinancial.news.news-20593 Mon, 13 May 2013 00:00:00 -0500 CPI Financial News Channel Consumer Banking Commercial Banking Islamic Finance The banks said that the events, titled Our Journey To Success have been designed to share the bank's strategy, vision and values in a fun and informative way, following the merger of Oman International Bank (OIB ) and HSBC Bank Middle East Ltd.'s Oman operations last year. http://www.cpifinancial.net/news/category/commercial-banking/post/20590/hsbc-bank-oman-holds-interactive-staff-events net.cpifinancial.news.news-20590 Mon, 13 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking A dual-track system, including survey-based lending rates along with transaction-linked indices, is likely to replace scandal-hit London interbank lending rate Libor as soon as next year, the Financial Times reported on its website on Sunday. http://www.cpifinancial.net/news/category/commercial-banking/post/20573/libor-likely-to-be-replaced-by-dual-track-system-ft net.cpifinancial.news.news-20573 Mon, 13 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Markets India's ElectraCard Services said on Sunday that a data breach in a series of ATM fraud attacks in December appears to have happened outside of its "processing environment." http://www.cpifinancial.net/news/category/commercial-banking/post/20570/data-in-fraud-compromised-outside-its-environment-electracard net.cpifinancial.news.news-20570 Sun, 12 May 2013 00:00:00 -0500 CPI Financial News Channel Technology Commercial Banking Arab Bank recently issued its annual sustainability report for the third consecutive year; the report is a summary of the bank's performance and achievements on the social, economic and environmental levels for the year 2012. http://www.cpifinancial.net/news/category/commercial-banking/post/20568/arab-bank-issues-third-sustainability-report net.cpifinancial.news.news-20568 Sun, 12 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking The Indian government's cyber watchdog is investigating how security at two companies that are part of the country's vast IT services industry was breached in a global ATM heist that saw $45 million stolen from two banks in the Middle East. http://www.cpifinancial.net/news/category/commercial-banking/post/20564/indian-it-watchdog-investigating-breach-in-atm-heist net.cpifinancial.news.news-20564 Sun, 12 May 2013 00:00:00 -0500 CPI Financial News Channel Technology Commercial Banking Khaleeji Commercial Bank (KHCB) signed a three way Memorandum of Understanding (MOU) with Bahrain Defense Force's Military Consumer Association (MCA) and the main supplier to MCA, Glabrous International (GI). http://www.cpifinancial.net/news/category/commercial-banking/post/20557/khaleeji-commercial-bank-signs-mou-with-military-consumer-association-glabrous-international net.cpifinancial.news.news-20557 Sun, 12 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking DIFC signs first agreement on strata development regulating use of owners’ service charges contributions and disbursement of service providers’ payments http://www.cpifinancial.net/news/category/commercial-banking/post/20549/emirates-nbd-to-open-accounts-for-owners-associations-in-difc net.cpifinancial.news.news-20549 Sun, 12 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking MARC has affirmed its long-term and short-term financial institution ratings of AAA/MARC-1 with a stable outlook on Malayan Banking (Maybank). http://www.cpifinancial.net/news/category/commercial-banking/post/20538/marc-affirms-maybanks-ratings net.cpifinancial.news.news-20538 Sun, 12 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Gulf Bank recently sponsored Kuwait University's Business Administration honouring ceremony held at Arraya Ballroom on 1 May 2013. http://www.cpifinancial.net/news/category/commercial-banking/post/20536/gulf-bank-sponsors-kuwait-universitys-business-administration-honouring-ceremony net.cpifinancial.news.news-20536 Sun, 12 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking In one of the biggest ever bank heists, a global cyber crime ring stole $45 million from two Middle Eastern banks by hacking into credit card processing firms and withdrawing money from ATMs in 27 countries, U.S. prosecutors said on Thursday. http://www.cpifinancial.net/news/category/commercial-banking/post/20521/huge-cyber-bank-theft-spans-27-countries net.cpifinancial.news.news-20521 Sat, 11 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Consumer Banking Technology The National Bank of Oman (SAOG) has announced that Anil Kumar Nahar – (non-independent and non-executive Board member) resigned from his membership on the Board of Directors due to personal reasons. http://www.cpifinancial.net/news/category/commercial-banking/post/20519/national-bank-of-oman-announces-registration-of-board-member net.cpifinancial.news.news-20519 Thu, 09 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Fitch Ratings has affirmed Kuwait International Bank's (KIB) Long-term Issuer Default Rating (IDR) at 'A-' with a Stable Outlook and Viability Rating (VR) at 'b+'. http://www.cpifinancial.net/news/category/commercial-banking/post/20516/fitch-affirms-kuwait-international-bank-at-a-stable-outlook net.cpifinancial.news.news-20516 Thu, 09 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Dubai Group has agreed restructuring documentation incorporating the final economic terms with the Coordinating Committees and their respective professional advisers, representing the company’s financial lenders in regard to approximately $6 billion of bank facilities.  http://www.cpifinancial.net/news/category/commercial-banking/post/20496/dubai-group-agrees-final-terms-of-restructuring-with-core-lender-representatives net.cpifinancial.news.news-20496 Thu, 09 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Emirates Towers branch to offer retail and business banking services to customers in Dubai's business amd financial hub http://www.cpifinancial.net/news/category/commercial-banking/post/20480/emirates-nbd-opens-emirates-towers-branch net.cpifinancial.news.news-20480 Wed, 08 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking SME Finance Consumer Banking This is the second year in which the bank has proactively organised trade finance education workshops across the UAE. http://www.cpifinancial.net/news/category/commercial-banking/post/20477/national-bank-of-fujairah-shares-trade-finance-expertise-with-clients net.cpifinancial.news.news-20477 Wed, 08 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Bloomberg has released its 2012 ranking of the World’s Strongest Banks, in which QNB is ranked number one. http://www.cpifinancial.net/news/category/commercial-banking/post/20459/qnb-tops-worlds-strongest-banks-on-bloombergs-markets-list net.cpifinancial.news.news-20459 Wed, 08 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Dubai may issue another sovereign bond this year and is looking at alternate means to repay its debt if asset sales don't materialise, a top official said on Tuesday. http://www.cpifinancial.net/news/category/commercial-banking/post/20454/dubai-says-looking-at-alternate-plan-for-debt-repayment net.cpifinancial.news.news-20454 Tue, 07 May 2013 00:00:00 -0500 CPI Financial News Channel Economics Commercial Banking Union National Bank was recognized with three ISO recognitions during the month of April 2013. The ISO recognition was presented to the UNB CEO Mohammad Nasr Abdeen by LRQA Business Manager and Area General Manager for MEA, Basem Obaid. http://www.cpifinancial.net/news/category/commercial-banking/post/20450/union-national-bank-unb-achieves-three-iso-recognitions-by-lloyds-register-quality-assurance net.cpifinancial.news.news-20450 Tue, 07 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking The National Commercial Bank (NCB) has recently hosted an international economic event in Riyadh; it is the International Project Finance Association (IPFA) Conference entitled "Saudi Arabia, a Compelling & Unique Opportunity". http://www.cpifinancial.net/news/category/commercial-banking/post/20437/ncb-hosts-the-ipfa-middle-east-conference net.cpifinancial.news.news-20437 Tue, 07 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Economics Kuwait Financial Centre “Markaz” recently published the executive summary of its report on analyzing the implication of hosting FIFA World Cup 2022 in Qatar. In this research note, Markaz identifies FIFA specific investments and projects in Qatar and tracks their progress status; and attempts to determine its impact on the regional economies in general and on Qatar in particular. http://www.cpifinancial.net/news/category/commercial-banking/post/20427/markaz-half-a-million-visitors-flock-to-qatar-for-fifa-world-cup-2022 net.cpifinancial.news.news-20427 Tue, 07 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking Investments Economics Lifestyle Hard-pressed company bosses across much of the world are under so much pressure to deliver on growth that many have resorted to cooking the books, Ernst & Young says in its latest Fraud Survey published on Tuesday. http://www.cpifinancial.net/news/category/commercial-banking/post/20425/companies-cook-the-books-to-meet-tough-targets-survey net.cpifinancial.news.news-20425 Tue, 07 May 2013 00:00:00 -0500 CPI Financial News Channel Commercial Banking SME Finance Results