Bank of Japan unveils new steps to keep credit flowing

The Bank of Japan announced new steps on Tuesday aimed at thawing frozen bank lending, offering banks unlimited dollar funds, as it left its super-low interest rates on hold at an extraordinary meeting. AFP - 14Oct 13:33GMT
S&P issues 'A-' stable long term credit rating to Ahli United Bank

Ahli United Bank (AUB) B.S.C has announced that the Bank has been assigned a Long Term Issue Credit Rating of 'A-' (stable) by Standard and Poor's (S&P) Rating Service. Press Release - 14Oct 13:06GMT
JP Morgan buys stake in Dubai Mercantile Exchange

(Arabic) JP Morgan has acquired a stake in Dubai Mercantile Exchange after DME approved the sale of 20% stake. Al-Arabiya - 14Oct 11:26GMT
Istithmar World Expands Network With New Office In Americas

Istithmar World, the investment arm of Dubai World, headquartered in Dubai, has opened its second international office in New York City. Press Release - 14Oct 11:25GMT
SABIC establishes 'SABIC Capital Ltd.' in the Netherlands

The Saudi Basic Industries Corporation (SABIC) has announced the establishment of a new wholly-owned company with a paid up capital of Euro 18,000. The company, SABIC Capital Ltd., is based in the Netherlands. Press Release - 14Oct 11:23GMT
Singapore Exchange and Bahrain Stock Exchange sign MOU

Singapore Exchange Limited (SGX) and Bahrain Stock Exchange are pleased to announce that they have signed a Memorandum of Understanding (MOU) today to collaborate for the benefit of the financial services industries in Singapore and Bahrain. Press Release - 14Oct 10:34GMT
SABIC Capital Launches New Company In Holland

(Arabic) Saudi Basic Industries Corporation has announced the establishment of SABIC Capital ltd. in Holland. Al-Arabiya - 14Oct 10:24GMT
Loan interest rate has dropped for three months in UAE

(Arabic) Loan interest rate has dropped to 4.6% among banks in UAE for three months. Al-Arabiya - 14Oct 09:56GMT
UAE Injects AED70 Billion In Banking Sector

The Vice President and Prime Minister of UAE and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum, has ordered the transfer of Dhs70 billion (US$19 billion) to the Ministry of Finance so that it can inject liquidity into the national banking sector. WAM (Emirates News Agency) - 14Oct 06:27GMT
BMI Bank To Start Operations In Qatar

BMI Bank (BMI) of Bahrain will be commencing operations from the Qatar Financial Centre (QFC) with a 'Category 1' licence. The Peninsula - 14Oct 06:17GMT

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The Toolbox

Video

Henry Paulson Gives Details Of The Rescue Plan: Part I

Arabic language (3:49)
Henry Paulson says Treasury Dept. will buy stakes in some banks - 14Oct

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Radio

Blanket Bank Guarantees

Marios Maratheftis, Regional Head of Research at Standard Chartered Bank, talks about the UAE government's guarantee on banking deposits. In a unique move, the UAE will guarantee deposits in banks with major operations in the country as well as local banks.
Dubai Eye - 14 Oct 2008

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Funds

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Leading Fund

Fund	Al-Awsat Money Market Fund (KD)
Geographic Focus	Kuwait
Fund Manager	Kuwait and Middle East Financial Investment Company
NAV	1.27 KWD \| 07Oct08
YTD Returns	+ 6.49%
Al-Awsat Money Market Fund (KD) is the leading money market fund on the Funds Monitor in terms of YTD returns.
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Research

Ahli United Bank (AUB)
TAIB Securities WLL - 09 Oct 2008

TAIB upgrades its investment opinion on AUB from NEUTRAL to OVERWEIGHT. The bank intends to become a leading provider of integrated financial services across the region and to serve as a “multifaceted financial bridge” between international financial markets and regional clients. AUB achieved H1-08 net profit of USD 211.72 million, compared to USD 150.73 million for H1-07. The stock is currently trading at a PE of 10.64x.

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Community Buzz

Stories in Financial Services

Most read stories by Community in the last 24 hrs

1	UAE Banks Face Dh500 Billion Fund Shortage
2	UAE Banks To Be Protected
3	Lebanese Banks Cash In On Worldwide Turmoil
4	Room To Expand
5	UAE Extends Guarantee To International Banks
6	Gulf Bourses Rebound After Govt Action
7	Deutsche Bank Expands Equities Platform In Mideast
8	UAE Markets Recover Dh41 Billion
9	A Sea Of Loans
10	UAE Injects AED70 Billion In Banking Sector

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
Al Hilal Bank	UAE	Banking
Qatar Investment Authority	Qatar	Investment Firms and Funds
Mubadala Development Company	UAE	Investment Firms and Funds
Standard Chartered Bank UAE	UAE	Banking
Abu Dhabi Commercial Bank	UAE	Banking
Abu Dhabi Investment Authority	UAE	Investment Firms and Funds
Al Rajhi Investment Group	Saudi Arabia	Investment Firms and Funds
Emirates International Investment Company	UAE	Investment Firms and Funds
Abu Dhabi Investment Company	UAE	Investment Firms and Funds

Projects

Most viewed projects by Community in the last 24 hrs

Project Name	Country	Sector
Dubai RTA - Dubai Metro - Purple Line	UAE	Infrastructure
IPIC - Abu Dhabi Crude Oil Pipeline (ADCOP)	UAE	Oil and Gas
Qatar Foundation - Sidra Hospital	Qatar	Real Estate
Nakheel - Dubai Waterfront	UAE	Real Estate
KNPC - Al Zour Refinery	Kuwait	Oil and Gas
Nakheel - Dubai Waterfront - Veneto	UAE	Real Estate
Takreer - Ruwais Refinery Expansion	UAE	Oil and Gas
Khalifa Port and Industrial Zone (KPIZ)	UAE	Infrastructure
Emirates Aluminium (EMAL) - Smelter Complex	UAE	Industry
ADCO - SAS Field Development	UAE	Oil and Gas

Blogs

Most read blogs by Community in the last 24 hrs

1	A SWOT Analysis On Real Estate
2	Lessons Learned from the Current Crisis
3	Vertigo \| Memai
4	The Myth of Islamic Finance
5	Chicken Licken and the American financial crisis

Zawya Network

329 members in Financial Serv.

Falling On Their Swords
Four of the most senior figures in British banking fell on their swords yesterday as the Government set out the ground rules for a new lower-paid and more heavily regulated era.

PE's No Saviour
For those hoping for PE to act as a saviour of the global credit markets in these times of extra-tight liquidity, there is bad news.

Real Estate
Next Stage For Mortgage Markets
The advancement of foreclosure laws and the enhancement of delinquency related penalties will also serve to bolster secondary markets for the GCC mortgage industry.

Company Ranking

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

	Company	Country	Market Capital ($mil)
1	Privatization Holding Company	Kuwait	375
2	Saudi Printing and Packaging Company	Saudi Arabia	278
3	Educational Holding Group	Kuwait	226
4	National Leasing Holding	Qatar	207
5	Arab International Company for Education and Investment	Jordan	203
» View Full List

Related Information

EIU Forecast For Financial Services Sector

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