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Wed, 07 Jan 2009 | 17:23 GMT
 
Top Financial Services News

  • VideoRiyad Bank sets up SAR200 million insurance firm


    (Arabic) A new SAR200 million insurance firm -The Global Company for Cooperative Insurance- is established in Saudi Arabia where Riyad Bank owns 30% of shares. Al-Arabiya - 07Jan 11:10GMT
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  • VideoSaudi Nama unit gets SAR210 million loan


    (Arabic) Saudi Nama has got the Saudi Industrial Development Fund's approval to get a SAR210 million loan for its chemical unit JANA which will use it to boost its production capacity to 100%. Al-Arabiya - 07Jan 10:57GMT
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  • AMD Gets US Clearance For Abu Dhabi Joint Venture


    Advanced Micro Devices said it received clearance from US authorities for a joint venture with capital from two Abu Dhabi investment firms to help it compete against sector leader Intel. AFP - 07Jan 07:41GMT
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  • Shuaa Capital de-lists from Kuwait Stock Exchange


    Shuaa Capital confirms that its shares have now been de-listed from the Kuwait Stock Exchange (KSE") with effect from 1 January 2009, pursuant to the decision taken by the company's shareholders in June 2008.? Press Release - 07Jan 07:19GMT
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  • Listed firms 2nd best GCC performer


    The net profits of UAE companies listed on its two stock exchanges are projected to have jumped by nearly 33 per cent in 2008 to turn the country into the second best stock performer in the region, according to a bank survey. Emirates Business 24/7 - 07Jan 06:23GMT
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  • Dubai's DFSA Fines GFS Ex-Official $70,000


    The Dubai Financial Services Authority (DFSA) yesterday said it has penalised former GFS Investments Compliance Reporting Officer Roberto Da Silva $70,000 (Dh257,100) for lapses of misrepresentation and falsification by GFS. Emirates Business 24/7 - 07Jan 06:23GMT
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  • Minhaj Shariah Financial Advisory Launches Operations from DIFC


    In the presence of Abdulla Al Awar, Managing Director of the Dubai International Financial Centre (DIFC) Authority, Dr. Abdul Sattar Abu Ghuddah the Chairman of Minhaj and a number of scholars, specialists, and businessmen, Minhaj Shariah Financial Advisory announced the launch of its operations in DIFC, which will provide advisory and training services. Khaleej Times - 07Jan 06:17GMT
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  • Saudi Stocks Surge Over 10% In 4 Days


    The Saudi stock market continued its upward trend in the first four trading days of this year. The Tadawul All-Share Index (TASI), which closed at 4,802.99 points on Dec. 31, 2008, surged over 10 percent in four days. The index yesterday closed 109.38 points or 2.11 percent higher at 5,289.73 points. Arab News - 07Jan 04:47GMT
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  • Afridi & Angell has most profitable year ever in 2008


    Afridi & Angell announced its positive results for the year 2008, which demonstrate the firm's growing prominence as regional counsel appointed by multinational companies, governmental entities, banks and financial institutions. Press Release - 06Jan 14:22GMT
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  • Huron Consulting Group Acquires Nextmove


    Huron Consulting Group Inc. announced it has acquired Nextmove, a Riyadh, Saudi Arabia-based consulting firm, to expand the Company's Middle East presence to meet the increasing demand for health and education consulting services in the region. Press Release - 06Jan 14:08GMT
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Video     

Nama CEO Talks About Jubail Chemical Industries' Loan
 
Arabic language (4:10)
Abdulmohsen Al Ogaili says that loan of Nama's chemical unit Jubail Chemical Industries is a 10 year loan - 07Jan
 
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Research     

Arab Bank
Amwal Invest - Jan 2009

Amwal issues a BUY recommendation on Arab Bank Group with a target price of JOD 18.71, representing a 25.16% upside potential to the current market price of JOD 14.95. The bank achieved 9M-08 net profit of USD 672.8 million, compared to USD 571.9 million for 9M-07. The stock is currently trading at a PE of 13.14x.

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Radio     

M&A Forecast For 2009
 
Dr. Christopher Kummer, President of the IMAA, the Institute of Mergers Acquisitions & Alliances in Zurich, talks about the distressed nature of M&A activity in 2008, and gives his forecast for 2009.
Dubai Eye - 05 Jan 2009

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Community Buzz

Stories in Financial Services

 

Companies in Financial Services

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Mubadala Development Company UAE Investment Firms and Funds
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409 members in Financial Serv.
 
 
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Markets
ME IPO Activity Declines
Saudi Arabia raises 78% of all IPO capital in the region during 2008 YTD, UAE followed with 10.3% and Egypt with 4.7%.
 
 
Funds
New Year Strategies
What are the investment strategies for 2009 that will help fund manger avoid a repeat of 2008?
 
 
UAE
Pressure On Auditors
Auditing and CA firms in the UAE are under pressure to prepare more accurate account books for clients and detect every financial irregularity.
 
 
Company Ranking
Ranked by Market Cap 
Based on yesterday's close
 | No. of Employees | Total revenue
  Company Country Market
Capital
($mil)
1 Nafais Holding Kuwait 291
2 Saudi Printing and Packaging Company Saudi Arabia 249
3 Privatization Holding Company Kuwait 223
4 Arab International Company for Education and Investment Jordan 216
5 Suez Canal Company For Technology Settling Egypt 189
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