2010

Concerns are growing that mooted changes to banking regulations could restrict the availability of trade finance and potentially lead to a drop in global trade flows – something that could be particularly detrimental to smaller companies and emerging market banks. Dominic Broom discusses how local global partnerships can help these institutions overcome the challenges presented by regulatory compliance Times are …

Financial statements provide a common format for assessing businesses but are diffi cult to read in their raw form. Financial ratios allow interpretation of fi nancial statements to get a better understanding of the fi nancial health of a business. Ratios can be applied historically and to budget or forecast accounts and can be useful both to internal and external …

An overall positive outlook across emerging and developed economies has been highlighted in the recently released hSBC survey. It shows respondents from India (140 points), the UAE (125), Mexico (124) and Indonesia (124) as being the most confi dent about trade activity and growth. Emerging markets positive Improved sentiment was especially evident in France, India and Saudi Arabia, where confi …

Although the Middle East was not as badly aff ected by the global fi nancial crisis as the Western world, corporates across the region are experiencing diffi culties when it comes to accessing bank fi nance. LIZ SALECKA explains why. While a traditionally conservative approach to both lending and borrowing – together with and a strong focus on satisfying regional …

As at Q3 2010, Riyadh Bank’s corporate liabilities rose over Q2 2010 to reach SAR90bn, whilst over the same period corporate assets also rose to SAR90bn and trade related contingencies held fi rm at SAR56bn. In recent years, the bank achieved market shares of approximately 20 per cent in each category and continued to occupy the No1 position in the …

Recovery is under way, in the oil-rich Gulf states certainly, and more tentatively across other parts of the Middle East and North Africa. And trade is central to this revival, as the resurgence in global economic activity lift s international demand for the region’s oil, gas and heavy industrial exports such as petrochemicals and aluminium. But the pace is still …

Eikon (pronounced “icon”) is the latest component of Thomson Reuters’ “innovation agenda” that redefines how financial professionals work by placing the most comprehensive market information, news, analytics and trading tools available into a desktop as simple to use and collaborative as the internet. It provides financial professionals with new tools to thrive in a new era and follows the launch …

Despite current uncertainty in the banking industry, the mood at Sibos – the annual international banking conference sponsored by SWIFT and held recently in Amsterdam – was felt to be positive. The event attracted more than 9000 delegates from 150 countries and 175 speakers.  One particular point that the conference underscored was the fact that payments are inherently local. Despite …

Dubai Islamic Bank has announced the opening of three new branches – one in Abu Dhabi and two in Dubai – bringing its UAE network to a total of 66 branches. The new branches in Dubai are located in the Al Qusais and Al Lisaili areas while the new Abu Dhabi branch is based in Shahama. “The bank always endeavours …

The National Bank of Abu Dhabi now has trade finance managers in its London and Paris branches as part of its plan to expand in that field in Europe. David Ringer has joined NBAD in London and Isabelle Krieg has set up in Paris. “Their recruitment reflects National Bank of Abu Dhabi’s commitment to developing trade finance business in Europe,” …

CBA, a global provider of banking IT solutions and services, recently announced that ABN AMRO has selected its IBAS Global Trade Finance Factory (IBAS GTF) for deployment at the bank’s headquarters in The Netherlands and across its international branches. According to the bank, the main objective is to offer highly sophisticated and flexible trade finance services to all its global …

Currency policies continued to dominate the agenda at the G20 summit in South Korea, and there were fears that a meeting in Seoul could result in worsening relations between the US and China about so-called “currency wars”.  However, leaders of the G20 group of the world’s major economies have agreed to avoid “competitive devaluation” of currencies after some difficult talks. …

Citigroup, through its Global Transaction Services business, has launched commercial card issuance on behalf of BASF, the world’s leading chemical company, in the UAE. BASF employees in the Emirates will now use Citi-issued commercial cards for managing and settling corporate expenses using this state-of-the-art technological platform. Citi has launched its global commercial card off ering in more than 50 local …

HSBC Middle East has completed its fi rst crossborder renminbi (RMB) trade transaction, becoming the fi rst bank to announce such a transaction in the region. HSBC worked with Royal Palace Furniture, a UAE based retailer, to complete an RMB transaction with its suppliers in China. With a large percentage of its raw material requirements sourced from China, the ability …

A survey indicates that 65 per cent of treasurers are interested in adopting mobile services. Fundtech, a market leader in global transaction banking solutions, and the Aite Group, a leading independent fi nancial research and advisory fi rm, have released a report entitled “Th e Business Case for Off ering Corporate Mobile Banking Services”, based on the fi ndings of …

After running successful pilot schemes in partnership with SWIFT and BNY Mellon, Wall Street Systems has launched a white paper on electronic bank account management (eBAM).  The White Paper, “eBAM: the automated future of corporate banking”, is based on interviews with industry leaders who participated in the eBAM production pilot using the new SWIFT eBAM standards.  It provides information and …