2013.10
First Gulf Bank ‘may bid for Barclays’ UAE retail arm’
First Gulf Bank (FGB), the United Arab Emirates’ third largest bank, may look to buy Barclays Plc’s retail banking operations in the United Arab Emirates, FGB’s chief executive said on Monday.
UAE bourses ‘hire advisers as merger gathers steam’
Abu Dhabi and Dubai have hired banks to advise on a possible merger of their two main stock exchanges, a state-backed deal that could energize financial markets in the United Arab Emirates, sources familiar with the plan said.
Dubai to double real estate fee to fight speculation
The emirate of Dubai will double the registration fee charged on real estate transactions in an effort to prevent excessive speculation in its property market, a top official said on Thursday.
Dubai regulator fines ex-BNP Paribas private banker
A former BNP Paribas private banker has been fined by the Dubai Financial Services Authority (DFSA) for executing two transactions worth a total 30.8 million dirhams ($8.4 million) for a client without his consent.
CC, Links advise on MEXIM’s $1 bln sukuk programme
Clifford Chance has advised the Export-Import Bank of Malaysia Berhad (MEXIM) on the launch of its $1 billion multicurrency sukuk programme.
Asian, Gulf banks fill void in plane finance
Cash-rich Asian and Middle Eastern lenders are taking a larger share of the $100 billion global aircraft financing market as Western rivals step back due to the liquidity crunch and stricter regulations, a top executive at Airbus said.
GS E&C wins $1.4 bln Kazakhstan order
GS Engineering & Construction Corp said on Monday it won a 1.52 trillion Korean won ($1.4 billion) order for the second phase of constructing petrochemical facilities in Kazakhstan from Kazakhstan LG Poly Ethylene (KLPE) LLP.
Korean court overturns Hanwha chairman’s prison term
South Korea’s supreme court has overturned a three-year prison sentence against Hanwha Group Chairman Kim Seung-youn for breach of trust and other charges, sending the case back to a lower court.
China to offer tax breaks to solar power manufacturers
China’s Ministry of Finance announced it will offer tax breaks to manufacturers of solar power products on Sunday, as China moves to support an industry still struggling to deal with massive overcapacity and weak demand.
China opens new Shanghai trade zone, unveils reform plans
China opened a new free trade zone in Shanghai on Sunday in what has been hailed as potentially the boldest reform in decades, and gave fresh details on plans to liberalize regulations governing finance, investment and trade in the area.