Bloomberg While a chorus of market experts is telling investors to look outside of the US for big returns, at least one loud voice is singing a very different tune — Vanguard Group founder Jack Bogle. The 88-year-old investor, who started the first index fund in 1976, said that he’s fully invested in US securities, with stocks and bonds having ...

Bloomberg Greece’s larger banks can take a leaf out of Attica Bank’s playbook. While the country’s four big banks are struggling to shrink their non-performing exposures (NPEs), smaller lender Attica Bank has become Greece’s first to turn to securitization as a way to both shrink its bad loans and close a capital shortfall. The Athens-based bank is using the services ...

Dubai / Emirates Business Noor Bank, a leading Shari’a-compliant bank in the UAE, on Monday announced that it has notched up several prestigious wins at the Banker Middle East Product Awards 2017 and at the Banker Middle East Industry Awards 2017, organised by CPI Financial’s renowned Banker Middle East magazine. Noor Bank won Best Corporate Account for its escrow account ...

Bloomberg Liberbank rebounded in Madrid trading after regulators prohibited short selling of the Spanish lender in the wake of a stock plunge last week. The shares jumped as much as 31 percent, the most since the bank’s 2013 debut, and were up 28 percent priced at 86.8 cents as of 10:06 a.m. The stock dropped 41 percent last week after ...

Dubai / Reuters Bahrain’s central bank ordered banks operating in the kingdom to freeze assets and bank accounts of the Qatar-linked 59 individuals and 12 entities that a group of Saudi-led Arab countries have accused of links to terrorism, the state news agency BNA reported in a statement. The move came after Saudi Arabia, the UAE, Egypt and Bahrain, who ...

Bloomberg Global bank regulators have been toiling for a decade on capital rules intended to help prevent another financial crisis. Now they’re within touching distance of a final deal, with one main obstacle standing in their way: France. The U.S. and Europe have long been at loggerheads over measures to stop banks from gaming the capital rules known as Basel ...

Dubai / Emirates Business Total gross bond issuance in the GCC has already surpassed 2016’s total value in the first five months of this year, according to Fisch Asset Management, a global leader in convertible and corporate bond strategies. Current market conditions have created a favourable landscape for new bond issuances, with the GCC Sukuk market issuing up to USD ...

Abu Dhabi / WAM Foreign investors’ buy value of shares in ADX amounted to around AED 2.282 billion during May, claiming 60.9 percent of the total value of traded stocks, with foreign sales for the same period valued at AED2.077 billion, accounting for 55.4 percent of total trading, resulting in a net foreign investment value of around AED204 million. As ...

DUBAI / Emirates Business FIVE Holdings, the Dubai-based real estate development and hospitality group previously known as SKAI Holdings, has launched a AED2.10bn (USD570m) real estate investment trust (REIT), the region’s first hospitality focused REIT and the largest to date. The REIT, to be regulated by the Abu Dhabi Global Market (ADGM) and Financial Services Regulatory Authority (FSRA), will include ...

Dubai / Emirates Business May data highlighted a robust improvement in the health of the non-oil private sector, with output and new orders expanding at a sharp rate. The respective rates of expansion eased since April. This was highlighted by the seasonally adjusted Emirates NBD Dubai Economy Tracker Index — a composite indicator designed to give an accurate overview of ...