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banking
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UAE’s ‘Second Salary’ plan: What you need to know about the new retirement scheme
The UAE’s National Bonds on Monday announced the launch of a ‘Second Salary’ plan, a customized savings scheme created for nationals and residents to ... Gulf -
Saudi National Bank growth unaffected by Credit Suisse hit
Saudi National Bank’s growth strategy will be unaffected by the reduced valuation on its investment in Credit Suisse, it said on Monday after the ... Saudi Arabia -
US regulator sells failed Signature Bank assets to another lender
The US banking regulator has struck a deal to sell most of the assets of the failed Signature Bank to another institution, the agency said on ... Banking & Finance -
Credit Suisse hit with first lawsuit over financial meltdown
Credit Suisse Group AG was hit with its first US investor lawsuit over the bank’s recent difficulties, alleging that it overstated its financial ... Banking & Finance -
Dubai Police warn public against sharing OTP, bank details amid phone scams
Dubai Police have warned the public to be vigilant against fraudsters impersonating government or banks in phone scams aimed at obtaining financial ... Gulf -
HSBC embarks on huge hiring spree in Saudi Arabia in expansion move
HSBC is hiring dealmakers as “fast as it can” in Saudi Arabia to capitalize on a wave of financing activity in the country, the global head of its ... Banking & Finance -
Saudi banks to prioritize liquidity needs for 2023, focusing on raising Tier-1 funds
Banks in Saudi Arabia are expected to continue to prioritize their liquidity demands for the coming year despite enhanced earnings, through focusing ... Economy -
Lebanon banks to strike: Banking association statement
Lebanon's banking association announced on Friday that banks would go on strike starting on Monday over what of the banking it said was a build-up of ... Middle East -
Major banks far from hitting Paris climate targets: Report
The world’s most influential banks need to substantially accelerate climate efforts if global temperature rise is to be kept within the targets of the ... Banking & Finance -
Banking inspector in China’s Henan province under scanner after fraud case, protests
China’s banking regulator on Sunday said it is investigating an inspector at its bureau in Henan province, which has seen protests by depositors ... Economy -
At the highest rung of Europe’s banks, it’s still a man’s world
Women remain rare visitors to the highest echelons of European banks.The 25 biggest banks by assets have seen 22 changes in chief executive and chair ... Features -
New app initiative to give ten-year-olds online banking access in the UAE
Children as young as ten will be able to earn, save and invest their money through their own bank account, under a new initiative by UAE digital ... Banking & Finance -
China ex-banker sentenced to death for bribery, bigamy
The former chairman of one of China’s largest state-controlled asset management firms was sentenced to death Tuesday for soliciting $260 million in ... Business -
Wall Street giants have billions of dollars under threat as US-China tensions mount
Wall Street giants such as Goldman Sachs Group Inc. and JPMorgan Chase & Co. have tens of billions of dollars at stake in China as political tension ... Features -
Egypt’s Commercial International Bank stockpiling cash for post-coronavirus
Egypt’s largest private lender is amassing cash so it will be able to consider dividend payouts at the end of the year, when it has assessed the ... Coronavirus -
Lebanon central bank could ease withdrawal limits on more accounts: Government source
Lebanon’s central bank could ease withdrawals for medium-sized, dollar-denominated accounts of over $3,000 at market rate. In early April, the ... Economy -
Lebanese banks set new exchange rate for small accounts, central bank source says
Lebanese banks are to apply an exchange rate of 2,600 pounds per dollar for withdrawals from small accounts of up to 5 million Lebanese pounds, a ... Economy -
Lebanon banks to shut until March 29 due to coronavirus
Bank branches in Lebanon will close from March 17-29 for the safety of employees during the coronavirus outbreak, the banking association said on ... Economy -
‘Powerful and timely’ global response to coronavirus in works: Bank of England
Bank of England Governor Mark Carney said policymakers around the world were working on a “powerful and timely” response to the economic ... Economy -
Emirates NBD announces net profit up 44 pct for 2019 to $3.95 billion
Emirates NBD, Dubai’s biggest bank and the second largest in the UAE, revealed on Monday that its net profit for 2019 had surged 44 percent to ... Financial Markets -
Saudi, UAE banks will see jump in loan growth in 2020 as profit margins fall
While banks in Saudi Arabia and the United Arab Emirates can look forward to burgeoning loan growth in 2020, higher earnings could be slow to follow ... Economy -
Egypt receives no request from Lebanon’s Bank Audi to sell Egyptian unit
Egypt’s central bank said in statement on Monday it had not received a request from Lebanon’s Bank Audi to sell its Egyptian unit. Media ... Economy -
Saudi Arabia grants license to Bank of China to open branch
Saudi Arabia’s cabinet approved the Bank of China's request for a license to open a branch in the Kingdom, Saudi state news agency SPA reported ... Economy -
S&P Global Ratings lowers three Lebanese banks to ‘Selective Default’ status
S&P Global Ratings has lowered its long-term issuer credit ratings on major Lebanese lenders Bank Audi, Blom Bank, and Bankmed to ‘SD’ ... Business -
Biggest Saudi banks will be profitable despite low interest rates: Moody’s
National Commercial Bank (NCB), Al Rajhi Bank, and Saudi British Bank (SABB), the three largest banks in Saudi Arabia, will maintain their ... Economy -
Lebanon’s banks will not participate in three-day strike
Lebanon’s banks will not join a three-day general strike slated to begin on Thursday, the Association of Banks in Lebanon said on Wednesday, ... Economy -
GCC banking outlook stable, underpinned by solid economic growth: Moody’s
Outlook for banks in the Gulf Cooperation Council (GCC) remains stable and is underpinned by solid economic growth, said ratings agency Moody’s ... Economy -
Bank ABC launches digital bank in Bahrain
Bank ABC launched on Sunday “ila,” a new Bahraini digital, mobile-only banking entity. The ila app offers an entirely digital onboarding ... Technology -
Lebanon’s banking association sets $1,000 weekly withdrawal limit
Lebanon’s commercial banks have been told to limit weekly withdrawals from US dollar accounts to $1,000 in a set of temporary directives issued ... Economy -
S&P lowers credit ratings on three Lebanese banks on liquidity pressures
S&P Global Ratings said on Thursday it was lowering the ratings on three Lebanese banks further into junk, citing rising liquidity pressures due ... Economy