Banks: We are most affected by downgrades

A number of banks have stated that they consider themselves Egypt’s most affected economic sector by the country’s repeated credit downgrades since the outbreak of the 25 January Revolution, seeing as they are the primary owners of government debt securities.

Central Bank receives $3bn Qatari deposit for bonds

The Central Bank of Egypt (CBE) received a $3bn Qatari deposit for the purchase of Egyptian bonds on Thursday, confirmed Nidal Assar, the sub-governor of the CBE.

Assar added that the Qatari deposit will remain at the CBE until the Ministry of Finance prepares the procedures to issue the bonds to Qatar, which will"......

Downgrade expected to negatively impact pharmaceutical industry: Experts

The downgrading of Egypt’s sovereign rating, by Moody’s to CAA1 and Standard & Poor’s to B-, will ultimately raise the cost of pharmaceuticals in Egypt due to the affect of the country’s credit score on the financial costs of credit and foreign currencies, according"...

CBO issues roadmap for Basel III implementation

Muscat: The Central Bank of Oman (CBO) has issued a roadmap for implementation of Basel III norms in the Sultanate. The stronger definition of capital, higher minimum core capital requirements, new capital buffers, leverage ratio and liquidity measures will help strengthen the capital and"...

Al Khaliji Reports 8% increase in Net Profit at QR 131.5 Million For The First Quarter Of 2013

• Net profit of QR 131.5 million for the first quarter of 2013 is 8% higher than the same period of 2012
• Total assets at QR 34.4 billion, 28% higher than the first quarter of 2012
• Loans and advances grew by 8% during Q1 2013 and 20% comparing with Q1 2012 to reach QR 14Bn
• Net fee and commission income at QR 47.3 million, up 82%...
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Union Bancaire Privée and Guggenheim Fund Solutions Power an Advanced Hedge Fund Platform That Meets the Requirements of Global Investors

Following the acquisition and integration of Nexar, Union Bancaire Privée, UBP SA has launched an alternatives division that offers clients broad alternative investment expertise, as well as innovative solutions. As part of this strategy, it has selected Guggenheim Fund Solutions"...

Bank of America Reports First-Quarter 2013 Net Income of $2.6 Billion, or $0.20 per Diluted Share

Business Momentum Continues

• Deposit Balances up 5 Percent From Q1-12 to $1.1 Trillion
• First-lien Mortgage Production up 57 Percent From Q1-12 to $24 Billion
• Global Wealth and Investment Management Reports Record Post-merger Revenue, Net Income and Long-term Assets"...
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