January, 2017

• 22 January

  Gambia awaits new leader, but exiled one has right to return

    BANJUL / AP Gambia’s capital on Sunday was awaiting the arrival of the country’s new leader and an era of democracy, hours after the authoritarian ruler of 22 years flew into exile with an extraordinary set of assurances from the international community. Even as new President Adama Barrow remained in neighboring Senegal awaiting a triumphant return after a whirlwind political ...

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• 22 January

  Societe Generale tests first bail-in bonds in a Nordic currency

  

    Bloomberg While Scandinavia waits for its regulators to finalize rules on bonds that are supposed to absorb losses if issuing banks get into trouble, Societe Generale SA decided to lead the way and sell its first senior bail-in-able notes in a Nordic currency. France’s second-largest bank by market value is issuing senior non-preferred notes in Swedish kronor after already ...

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• 22 January

  Saudi Central Banker says crunch that squeezed lenders is over

  

    Bloomberg Saudi Arabia central bank Governor Ahmed Alkholifey said a cash crunch that squeezed commercial lenders last year is over and that he’s open to more foreign financial institutions operating in the biggest Arab economy. The Saudi Arabian Monetary Authority sees no need for further steps to boost banking liquidity, Alkholifey said in an interview with Bloomberg Television in ...

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• 22 January

  Deutsche burden in US settlement eased by fine print

  

    Bloomberg Deutsche Bank AG sought an unusual provision in its $7.2 billion mortgage-bond settlement with the US government, and seems to have won it: the bank can pay down part of its penalty by lending money to fund managers. As part of the agreement, Germany’s largest bank has to provide $4.1 billion of relief for mortgage borrowers. Other lenders ...

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• 22 January

  Lloyds rejigs executives ahead of strategy review

    Bloomberg Lloyds Banking Group Plc Chief Executive Officer Antonio Horta-Osorio has reshuffled senior jobs at the bank to create a new role to advise on cost control ahead of a strategic update this year, according to people with knowledge of the matter. Jennifer Tippin, the London-based bank’s former customer services director, will lead group organizational design and cost management ...

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• 22 January

  Ex-BOE’s king raps Central banks for losing focus, humility

  

    Bloomberg It would seem that Mervyn King isn’t a fan of what central bankers have been doing since he departed their ranks. In a discussion of the economics profession and central banking, the former Bank of England governor expressed concerns ranging from the ‘narrow’ focus of macroeconomics, a lack of humility among forecasters and the risks of straying into ...

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• 22 January

  Al Hilal Bank wins Service Olympian award

  

    Emirates Business Al Hilal Bank was recently awarded the prestigious Service Olympian Award for Most Improved Branches category during an event held by Ethos Integrated Solutions at the Emirates Towers Hotel, Dubai. Mohammed Al Dosari, Head of Distribution in Retail Banking Group at Al Hilal Bank, received the award which marks another milestone in the Bank’s journey of success.

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• 22 January

  Snap touts devoted users to justify $20 billion value

  

    Bloomberg Snap Inc. is hoping to convince public market investors it’s worth upwards of $20 billion by stressing how important its app is to users’ daily lives. That’s what Snap’s management highlighted this month to analysts from banks underwriting its initial public offering, according to people familiar with the matter. The company laid out a slew of engagement metrics ...

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• 22 January

  Essentials for integrating security in cloud data

  

    Emirates Business According to Cisco’s 6th Global Cloud Index (CGI) Forecast, cloud data center traffic in the Middle East & Africa will grow at a CAGR of 34% between 2015-2020 and represent 67% of total data center traffic by 2020. Whatever the specific configuration of your cloud, be it public, private, or a mix of both, there are security ...

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• 22 January

  Tencent dominates Chinese mobile app use

  

    Bloomberg Tencent Holdings Ltd.’s messaging services were by far the most popular Chinese mobile apps in 2016, leading steady growth in the world’s largest internet and smartphone market, the government’s online industry overseers said on Sunday. WeChat remained the most heavily used app in the country in 2016, with almost 80 percent of the online population employing the social ...

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