Middle East Business News

BNY Mellon Lands A Big Ally For Expansion In Saudi Arabia

NCB Capital is the kingdom's biggest asset manager and investment bank

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Coronavirus, Low Oil Prices Set To Speed Up Gulf Bank Mergers

Moody's Investors Service says financial concerns in the region will play a larger role in encouraging deals Read more

Abu Dhabi Fund Buys $750m Stake In Retail Arm Of Indian Giant Reliance

Subsidiary of the Abu Dhabi Investment Authority will buy a 1.2% stake in Reliance Retail Ventures Read more

How The Lebanese Private Sector Is Coping In The Eye Of A Storm

Businesses extremely pessimistic about future as layoffs continue and wages plummet Read more

Lebanese Pound: The Most Undervalued Currency In The World

As political and economy chaos ensues, leading analyst says exchange rate needs sorting 'as soon as possible' Read more

How Coronavirus Is Changing Banking For The Better

Redefining finance for good: Virtual CXO Forum to take place on October 7 Read more

UAE-Bahrain Trade Returning To Pre-coronavirus Levels

Bahrain's trade for the first half of the year reached $10.4bn globally, down 2% on 2019 Read more

Kuwait Central Bank Denies Plan To Devalue, Stands By Peg

Speculation started swirling after the passing last week of Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah, who has been succee... Read more

Expat Remittances From The UAE Exceed $21bn In First Half Of 2020

India retains position as top receiving country from expats in the UAE, ahead of the Philippines, Pakistan and Banglades... Read more

Inflation Spirals Out Of Control As Lebanon Drowns In Excess Pounds

Local currency in circulation soars 137% as it loses 80% of its value amid ongoing economic crisis Read more

UAE's Mubadala Confirms $844m Stake Deal In Retail Unit Of Indian Giant Reliance

Mubadala says its investment will translate into a 1.40% equity stake in Reliance Retail Ventures Limited Read more

Lebanon's Foreign Currency Reserves Could Vanish In 12 Months

Goldman Sachs warns of further economic turmoil if new government isn't formed soon Read more

Rolls-Royce Mulls Financing Plan After Ruling Out Kuwait Investment

Shareholders of the UK engine-maker opposed a plan to raise funds from Singapore's GIC and Kuwait Investment Office Read more

UAE Construction Giant Arabtec Reportedly To Be Placed Into Liquidation

Decision at company's annual general meeting follows a net loss of $216m during first half of 2020 Read more

Credit Suisse To Cut Jobs In Gulf In Wealth Management Overhaul

Around 20 people to be let go by the banking giant, mainly in Dubai Read more