2006
- The news you choose »
- Login to Add to Watchlist
NBF equity fund
National Bank of Fujairah has unveiled a fund geared towards medium term asset diversification. The Future Value Protected Product is structured by ABN Amro, and invests in American and European Private Equity Share basket. Its weight is equally divided among ten listed private equity companies. The minimum investment is $50,000.
Saman, EIB, switch deal
Iran's Saman Bank and Dubai-based Emirates Bank International have signed a switch connection agreement allowing cash card or debit card holders of both banks access to each other's ATMs, according to the Tehran Times.
Emirates Bank secures ATMs
Emirates Bank says it is fitting its ATMs with a device that prevents fraud. Developed by NCR, the "Fraud Detection Inhibitor" makes it difficult to attach skimming devices around the card reader, and stops sensitive personal information, such a spin numbers, from being stolen.
Emirates Bank hits Oz market
Dubai-based Emirates Bank plans to sell a "Kangaroo" bond before the end of the year, and is currently meeting with debt investors in Australia to work out the issue, Reuters reported. The meetings were arranged by National Australia Bank and UBS. Bank officials said the issue could be for three to five-year notes with fixed and floating rate components.
CBI, 3.75% car loan offer
The Commercial Bank International has launched a car loan product offering an interest rate of 3.75%. The offer provides zero down payment and customers are guaranteed approvals on the same day. The loan comes with a repayment period of 72 months including a 60 day initial grace period; the CBI is also offering a credit card and various insurance finance options as part of the package.
OIB, ABC Plus Visa offer
The Oman International Bank has launched a promotion for ABC Plus Visa Electron card holders. The bank will be handing out 36 prizes a month, or 108 in total, between now and early January when the offer ends. Customers who use their cards to make purchases will automatically be entered into a draw to win 12 cash prizes, 12 shopping voucher prizes and 12 petrol voucher prizes every month.
HSBC, OneWorld for NRIs
The HSBC has launched a new account package called OneWorld, aimed at non resident Indians. Benefits include being able to open accounts in India while being in the UAE and vice versa, free money transfers via cheques and the Internet as well as money transfers via the bank's 79 ATMs in the UAE. A dedicated NRI banking centre is to open at the Business Centre on Bank Street in Dubai.
Kerala top for Qatar remittances
Kerala is the number one destination for remittances sent home by Indians working in Qatar, reported The Peninsula. Indians from Andhra Pradesh, Bihar and West Bengal are next in line for wiring money according to Brahma Rao, the GM of the Trust Exchange. Rao added that the number of remittances sent to India has jumped by about 10-15% over the past year, mainly due to more low-income workers using the facility.
Saudi women choose Mostathmer
Saudi women have been flocking to training courses concerning an online investment tool called Mostathmer, created by the Tatweer International Software Development Company, which provides stock market investors with data to help them look after their capital. The Internet programme provides up-the-minute price information, full-support basic analyses and related press news, in a bilingual portal. Tatweer is intending to hold training courses right across the kingdom.
Gang targets ATM users
Police suspect an organised gang is behind recent robberies of people using ATMs on streets in Sharjah and Dubai, Gulf News reports. One man in Sharjah was stabbed and robbed after withdrawing cash from a machine, and another was attacked and had money stolen outside an ATM on Sheikh Zayed Road in Dubai. No arrests have been made.
Doha Bank, $1bn bond issues
Doha Bank will start selling $1bn worth of five-year bonds in November to fund its expansion plans, Bloomberg reported. A $342m first issue of debt securities will be offered if shareholders approve the bank's euro medium term note programme at a meeting on 6 November. Two further bond issues will be released during 2007.
Global fund, $12m US property
Kuwait-based Global Investment House has paid $12.13m for a medical building in the US for its US Real Estate Fund. St Luke's medical office building in Arizona is the fund's fourth US real estate acquisition. The average yearly income on the acquisition is approximately 5.8%, although the expected cash income for the first year is 5.2%, distributed monthly.
BankMuscat, salary card
BankMuscat has introduced Oman's first pre-paid salary transfer card, according to the Times of Oman. Employees can use the 'My Money' card instead of cash to pay in monthly salaries. The bank says the card gives employees more security.
Khaleeji, BIsB Lagoon finance
The Abu Dhabi Investment House has today signed strategic partnerships with two banks to ensure finance choices for potential investors in The Lagoon Bahrain. Potential investors in the development will be eligible to apply for mortgages with both the Khaleeji Commercial Bank and the Bahrain Islamic Bank.
Shamil exits real estate fund
The Shamil Bank has announced its exit a year earlier than planned from Ehsa 2 Morabaha, one of its real estate Morabaha funds. The fund financed the $96m purchase and sale of a 17.9m sqft area of land in the Al Ehssa region of Saudi Arabia. Abdulhakim Al Mutawa, Head of Private Banking, said that clients who invested in the Morabaha have received their expected returns on exiting.
It looks like you are using a Mac - check out our 
Web Feeds