Top Financial Services News

Rasmala raises $120m and aims to increase fund size by $230m

Rasmala, a regional investment banking firm, has raised $120 million (Dh441m) for Rasmala Mena Private Equity Fund 2 to invest in the Gulf states and aims to increase the size by $230m. Emirates Business 24/7 - 06Jan 06:49GMT
Oman: ITA, ROP to implement ePurse solution

The Information Technology Authority (ITA) and Royal Oman Police (ROP) are poised to sign a memorandum of understanding with BankMuscat and Gemalto for the implementation of the first phase (pilot phase) of the ePurse application. Oman Daily Observer - 06Jan 06:45GMT
Oman Development Bank's developmental loans touch RO 36m

Oman Development Bank (ODB) distributed loans worth RO 35,906,110 in 2008 compared to RO 29,997,640 during the corresponding period in 2007, registering an increase of 20 per cent. Oman Daily Observer - 06Jan 06:31GMT
Daman CEO predicts FIIs will soon return as confidence grows

Foreign Institutional Investors would not take long to return to the UAE, which has established itself as one of the primary investment destinations in the world, Shehab M Gargash, Chief Executive Officer of Daman Investments, told Emirates Business yesterday. Emirates Business 24/7 - 06Jan 06:22GMT
Global crisis to depress Arab banks' profits by up to 40%

A festering liquidity shortage caused by the global economic crisis will ally with lower foreign capital flow to depress the combined profits of Arab banks by up to 40 per cent in 2009, according to the region's top banker. Emirates Business 24/7 - 06Jan 06:13GMT
Daman collaborates with equity research firm

Daman Securities, brokerage arm of Daman Investments has announced its collaboration with an equity research firm designed to give its investors unbiased, in-depth coverage. Gulf News - 06Jan 05:38GMT
Global financial shock biggest threat to companies this year

Global financial shocks will be the most challenging risk for companies in the Middle East this year, a researcher from Ernst & Young, a consultancy firm, told Gulf News. Gulf News - 06Jan 05:34GMT
Taqa Among Top Five Bargain Stocks In Region

The Abu Dhabi Energy Company (Taqa) has been classified among the best five bargain stocks in the Middle East because of a sharp growth in its earnings during 2008 and its ambitious expansion plans. Emirates Business 24/7 - 06Jan 04:41GMT
Saudi Banks Launch Campaign Against Frauds

Saudi banks have launched a campaign to educate and raise awareness of their customers against the risks of financial and banking frauds in coordination with Saudi Arabian Monetary Agency (SAMA). Arab News - 06Jan 04:27GMT
UAE Stocks Rebound In First New Year Trades

The two United Arab Emirates bourses made a strong comeback on their first trading day of the new year on Monday, while Saudi Arabia continued to edge higher after massive losses last year. AFP - 05Jan 12:25GMT

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Fund	Makaseb Qatar Equity Fund
Geographic Focus	Qatar
Fund Manager	Makaseb Funds Company
NAV	6.20 USD \| 31Dec08
1-Month Return	+14.26%
Makaseb Qatar Equity Fund is the leading fund in Qatar on the Funds Monitor in terms of 1-Month Return.
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Video

KIA Confirms Long-Term Investments

Arabic language (0:39)
Kuwait Investment Authority confirms its long-term investments in the local bourse - 05Jan

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Radio

M&A Forecast For 2009

Dr. Christopher Kummer, President of the IMAA, the Institute of Mergers Acquisitions & Alliances in Zurich, talks about the distressed nature of M&A activity in 2008, and gives his forecast for 2009.
Dubai Eye - 05 Jan 2009

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Research

Arab Bank Group
Amwal Invest - 04 Jan 2009

Amwal issues a BUY recommendation on Arab Bank Group with a target price of JOD 18.71, representing a 25.16% upside potential to the current market price of JOD 14.95. The bank achieved 9M-08 net profit of JOD 672.8 million, compared to JOD 571.9 million for 9M-07. The stock is currently trading at a PE of 13.14x.

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Community Buzz

Stories in Financial Services

Most read stories by Community in the last 24 hrs

1	Dubai Dream Turns Sour
2	UAE Banks Top Realty Exposure
3	UAE: 'This Year Is Going To Be Challenging'
4	First Gulf Bank Inks Finance Deal With Mubadala
5	Well-known bank's account ordered closed
6	Turbulent Year Likely For UAE's Banking Sector
7	Amlak-Tamweel Merger To Boost Mortgage Business
8	Rasmala MENA PE Fund 2 Announces Closing With $120M
9	UAE Stocks Rebound In First New Year Trades
10	ME IPO Activity Declines

Companies in Financial Services

Most viewed companies by Community in the last 24 hrs

Company Name	Country	Industry
Mubadala Development Company	UAE	Investment Firms and Funds
Al Rajhi Investment Group	Saudi Arabia	Investment Firms and Funds
Al Salam Bank - Algeria	Algeria	Banking
International Petroleum Investment Company	UAE	Investment Firms and Funds
Qatar Investment Authority	Qatar	Investment Firms and Funds
Dubai Islamic Bank	UAE	Banking
Abu Dhabi Investment Authority	UAE	Investment Firms and Funds
Arcapita Bank	Bahrain	Investment Firms and Funds
Doha Bank	Qatar	Banking
Kuwait Projects Company (Holding)	Kuwait	Investment Firms and Funds

Projects

Most viewed projects by Community in the last 24 hrs

Project Name	Country	Sector
Ras Tanura Integrated Refinery and Petrochemicals Complex	Saudi Arabia	Oil and Gas
QP - Al Shaheen Refinery	Qatar	Oil and Gas
Qatalum Aluminum Smelter	Qatar	Industry
Dubai RTA - Dubai Metro - Purple Line	UAE	Infrastructure
Qatar Foundation - Sidra Hospital	Qatar	Real Estate
WDEPC - Abu Qir Power Plant Expansion - Civil Works	Egypt	Power and Water
KNPC - Al Zour Refinery	Kuwait	Oil and Gas
Saadiyat Island Development - Saadiyat Resort and Beach Residences (Phase 1)	UAE	Real Estate
IPIC - Abu Dhabi Crude Oil Pipeline (ADCOP)	UAE	Oil and Gas
Abu Dhabi Municipality - Salam Street and Mina Road Development	UAE	Infrastructure

Blogs

Most read blogs by Community in the last 24 hrs

1	The Wings of the Ant ( the future of investment firms in the GCC )
2	Job Losses Become Part of Life
3	Hot Properties Cool Off-Damac & Other Developers
4	Wow! This Recession is Staggering
5	The New Game for the World Economy

Zawya Network

405 members in Financial Serv.

Markets
ME IPO Activity Declines
Saudi Arabia raises 78% of all IPO capital in the region during 2008 YTD, UAE followed with 10.3% and Egypt with 4.7%.

Funds
New Year Strategies
What are the investment strategies for 2009 that will help fund manger avoid a repeat of 2008?

UAE
Pressure On Auditors
Auditing and CA firms in the UAE are under pressure to prepare more accurate account books for clients and detect every financial irregularity.

Company Ranking

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

	Company	Country	Market Capital ($mil)
1	Nafais Holding	Kuwait	293
2	Saudi Printing and Packaging Company	Saudi Arabia	245
3	Privatization Holding Company	Kuwait	230
4	Arab International Company for Education and Investment	Jordan	226
5	Suez Canal Company For Technology Settling	Egypt	183
» View Full List

Related Information

Financial Services Companies (1696)

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EIU Forecast For Financial Services Sector

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