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Thursday, 20 November 2008 19:22 UAE time

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Saudi prince ups stake in US banking giant

Saudi prince ups stake in US banking giant

Banking & Finance
Prince Alwaleed bin Talal to increase stake in Citigroup to 5%, shares rise as a result.

Lenders ramp up interest rates on home loans
Banking & Finance
Banks in the UAE increase mortgage rates by as much as 2.5% as cost of borrowing rises.

Kuwait introduces new repurchase deals
Banking & Finance
Central bank's move to revamp monetary policy tools in effort to boost investor confidence.

Finance still most popular jobs sector: survey
Banking & Finance
Regional questionaire shows respondents from UAE, Kuwait and Jordan in agreement.

more »MIDDLE EAST BANKING & FINANCE COMMENT

From flippers to floppers
One has to feel for the now extinct species of property pundits known as ‘flippers’. They came, they saw, they coined it.

Sean Cronin  

Landlords lose their grip
Banks refusing loans to people earning under 20,000 dirhams may be good news for tenants, argues Rob Corder.

 Rob Corder

EDITOR'S CHOICE

  1. Amlak suspends new mortgage loans »
  2. Finance still most popular jobs sector: survey  »
  3. Premium air traffic in Mideast tumbles 14% »
  4. First Gulf in share buyback »
  5. Bollywood star chosen for 'Atlantis Goddess' role »

more » MIDDLE EAST MARKETS DATA

DFM

Last Price:

2,012.24

-40.91-1.99%

20 Nov 2008 09:59 GMT
(Market Closed)

ADX

Last Price:

2,833.55

-47.20-1.64%

20 Nov 2008 10:00 GMT
(Market Closed)

SSE

Last Price:

4,880.44

-89.52-1.80%

19 Nov 2008 12:30 GMT
(Market Closed)

CURRENCY CONVERTOR

more »OTHER MIDDLE EAST BUSINESS NEWS STORIES

Banking & Finance

  1. Saudi prince ups stake in US banking giant
  2. Lenders ramp up interest rates on home loans

Construction & Industry

  1. Luxury hotel fitter expects to see Dubai slowdown
  2. Global crisis 'yet to seriously hit Gulf construction sector'

Culture & Society

  1. Pop star to give evidence in Bahrain lawsuit case
  2. Finance still most popular jobs sector: survey

Education

  1. UAE education chief reveals $2bn strategy
  2. Saudi hikes student allowance by 50%

Energy

  1. Oil price falls to lowest mark since Jan 2007
  2. Ras Al-Khaimah grants 25-yr oil concession

Healthcare

  1. Manslaughter charge doctor has licence suspended
  2. UK entrepreneur in Qatar biomedical venture

Islamic Finance

  1. ISDA to launch sharia-proof derivative standard
  2. Sukuk to recover in 2009 - BNP Paribas

Media & Marketing

  1. Cirque du Soleil returning to Dubai next year
  2. Emarat Al-Youm in dark over court ban

Personal Finance

  1. Lenders ramp up interest rates on home loans
  2. Amlak suspends new mortgage loans

Politics & Economics

  1. UAE pledges $550mn aid to Afghanistan
  2. Bahrain survey identifies skills shortage

Real Estate

  1. Sama Dubai reviews projects amid global crisis
  2. Developer puts new projects on hold amid global crisis

Retail

  1. Bin Hendi chief sees 20% fall in business
  2. Damas set to slow down 2009 expansion plans

Sport

  1. Determined UAE hold Iran to draw in World Cup qualifier
  2. Australia break Bahrain hearts in World Cup qualifier

Technology

  1. Software boost as ID card registration rush continues
  2. I-Mate not going under, CEO says

Transportation

  1. 'Business as usual' for Saudi oil export shipping
  2. Bahrain Navy awards contract to UAE shipbuilder

Travel & Hospitality

  1. Luxury hotel fitter expects to see Dubai slowdown
  2. Bollywood star chosen for 'Atlantis Goddess' role

more »MIDDLE EAST BANKING & FINANCE EVENTS

UPCOMING EVENTS

  1. Cash Flow & Working Capital Management
    16 November 2008 | Dubai, United Arab Emirates
  2. Certified Accounts Assistant
    16 November 2008 | Dubai, United Arab Emirates
  3. Estimating, Budgeting, Cost Control & Value Engineering
    16 November 2008 | Dubai, United Arab Emirates
See all events »

MORE BANKING & FINANCE STORIES

  1. Amlak suspends new mortgage loans
  2. UAE to assess if $19bn facility enough for banks
  3. Iran mulls $1bn international bond issue
  4. First Gulf in share buyback
  5. No plan to sell LSE stake: Borse Dubai
All Banking & Finance news stories »

SPOT POLL

Following the temporary closure of Kuwait Stock Exchange, what do you think the future holds for Gulf markets?

Markets have reached a nadir and share values will now begin to recover.
Most sectors will soon recover but the real estate shares will suffer for some time to come.
The global financial crisis has only just arrived and markets are in for worse times ahead.
Many more companies will be forced to buy back shares in a bid to boost their value.
ArabianBusiness.com/Jobs - Middle East Jobs Search
  1. Sales Director - Transactional Banking
    Industry: Finance
    Location: Dubai, UAE
  2. Chief Accountant- Male (Immediate Requirement)
    Industry: Finance
    Location: Dubai, UAE
Browse all jobs »

MOST POPULAR BANKING & FINANCE STORIES

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READER COMMENTS

  1. Lenders ramp up interest rates on home loans 3
    20 Nov ' 08 at 15:32
    Yet again during a crisis the banks are trying to make more money. To stimulate what is become a flagging housing market the rates...  More »
  2. Amlak suspends new mortgage loans 2
    20 Nov ' 08 at 09:10
    Amlak's move is not surprising given that it does not do retail banking and relies on sourcing funds for lending. Overall there is a...  More »
  3. Banks 'could freeze accounts' of ID card violators 1
    20 Nov ' 08 at 06:43
    EIDA should work our arithmetic.If all the EIDA centres can handle 1000 applications every day then it will take 100 working days to...  More »
Read all user comments >

BUSINESS FEATURES

Sukuk and the city

The City of London has had a rough time recently, but for the city's Islamic financiers, outlook looks rosier.

The new colour of Islamic money

Islamic banks are moving to centre stage as they bid to take market share from conventional lenders.

Banks hoard Fed cuts

Regional mortgage lenders are refusing to pass falling US interest rates on to customers in the emirates.

BUSINESS INTERVIEWS

Comeback kids

Arabian Business talks to Unicorn's CFO to discover why Islamic finance is now in higher demand than ever.

Noor goes moor

Noor Islamic Bank CEO Hussain Al Qemzi plans to take the fledgling bank across the Gulf and around the world.

Why there's life after Lehman

As global markets go into freefall, where will sovereign funds be looking next? Makram Azar explains.

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