Category Archive: News
Qatar gives Egypt $3bn aid package in return for bonds
After short negotiations, Qatar has agreed to buy Egyptian bonds worth $3bn, part of an aid package that will help Egypt from sinking into financial turmoil. The announcement was made after an unexpected trip to Egypt by the Qatari premier Sheikh Hamad bin Jassem al-Thani, and has surprised many observers. Qatar’s bond purchase comes on […]
Cypriot parliament agree on controversial bailout deal
The Cypriot parliament, the EU and the IMF have agreed to a €10bn bailout after a tense week of negotiations. The deal will spare depositors from a controversial levy, but will force substantial losses for large-scale depositors in two of the country’s biggest lenders. The last minute aims at preventing a collapse of the island’s […]
Fundamental profitability comes full circle
The year 2012 began with multiple headwinds for the Gulf Cooperation Council (GCC) markets, which raised concerns over provisions pertaining to the financial sector, corporate growth and profitability. The equity markets remained under the dark shadow of geopolitical situations which were persistent in the Middle East, especially Iran and the on going unrest across other […]
Kirchner’s diminishing returns
First elected as Argentinian President in 2007, Cristina Fernández de Kirchner began her term riding a wave of popularity. The election wasn’t even close, with Kirchner winning 45.3 percent of the vote, over double that of her nearest rival. Her husband, the late president Néstor Kirchner, had appeared to successfully steer the country through the […]
Burj Bank cement strong reputation
Founded in 2007, Burj Bank – formerly known as Dawood Islamic Bank – has a distinguished history, spanning more than five years, as a central pillar of Pakistan’s Islamic Banking landscape. In 2011, Burj Bank’s board of directors became concerned about the slow growth and concentration of the bank’s financing portfolio in areas of the […]
The year ahead – a GCC perspective
2012 was an eventful year, with the key global central banks announcing fresh stimulus measures, bringing in a much-needed respite for asset markets. Globally, economic data remained mixed, with pockets of strength in the US, while eurozone data was broadly disappointing. Moreover, the fiscal cliff overhang in the US weighed on investor confidence. The year […]
Boubyan Bank building on successful strategy
By the end of 2012, we at Boubyan Bank had completed the first three years of our Five-Year Strategy (2010-2014). The strategy has certainly realised many of its objectives; last year, we returned to profitability and were even able to pay dividends to our shareholders. The realisation of these strategic objectives can be attributed to […]
The innovation equation
When George Stephenson invented the steam locomotive and then went on to build the Stockton and Darlington railway in 1821, he changed the way people and merchandise got around for good. Less than 100 years later airplanes were crossing the Atlantic, and another 40 years after that the Boeing 707 was in operation. According to […]
Cyprus to request €2bn of its own loan to Greece
He is due to commence talks with Greek Prime Minister Antonis Samaras today, with the two countries financial situations being the main point of discussion. Reports indicate that Anastasiades will be asking for Greece to provide €2bn from its €48bn bank recapitalisation package to support Cypriot lenders. Little over a fortnight ago, Anastasiades, said that […]
Obama reluctantly signs sequester
After last minute discussions failed to reach a consensus, the American Congress was unable to prevent a wave of unpalatable cuts coming into effect. President Obama has since signed off on the sequester, which will see over $85bn wiped from the federal budget over the year. When the cuts were conceived in 2011, they were […]
