May, 2016

• 17 May

  Saudi’s largest lender to expand global footprint

  

    Reuters Saudi Arabia’s largest lender by assets, National Commercial Bank (NCB), plans to expand overseas, growing its Turkey franchise while exploring new markets including Malaysia, Indonesia and Egypt, its chairman said. The move could break the mould of the kingdom’s banking sector, which hosts a range of large and well-capitalised financial institutions but which have traditionally focused on serving ...

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• 17 May

  ANZ to cut Aussie jobs amid sluggish loan surge

  

    Bloomberg Australia & New Zealand (ANZ) Banking Group Ltd. is getting rid of about 200 jobs in its Australian unit as lending growth slows in a subdued economy. The reductions will be largely in Melbourne and affect managerial and back-office roles in areas such as marketing and project management, Melbourne-based spokesman Stephen Ries said in an e-mail on Tuesday. ...

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• 17 May

  1MDB-dealings; BSI to probe bank employees

  

    REUTERS BSI SA, the Swiss bank embroiled in global probes into 1Malaysia Development Bhd. (MDB), is investigating employees and their dealings related to the embattled Malaysian state investment fund, according to people familiar with the matter. One of the employees the private bank is investigating in Singapore is Kevin Swampillai, the manager of the first banker to be charged ...

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• 17 May

  Egypt top bank sells $169mn special certificates to woo foreign currency

  

    Cairo / Reuters National Bank of Egypt (NBE), the country’s largest state bank, sold 1.5 billion Egyptian pounds ($169 million) worth of special certificates that were launched in March to attract foreign currency into the banking system, its deputy chairman said. NBE was one of three state banks to launch the certificates on March 14, the day Egypt’s central ...

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• 17 May

  1,800 jobs shed as BPM, Banco Popolare merge

  Milan / AFP Banco Popolare and Banca Popolare di Milano (BPM) said they would shed seven percent of their 25,000 staff as they merge to create Italy’s third-largest bank by assets. The 1,800 jobs are to be cut via voluntary departures, and 800 other employees will be reassigned to other jobs. The number of branches will be cut by 14 percent ...

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• 17 May

  PBOC gears up as China revamps regulation

  

    Tokyo / AFP As China’s leaders consider ways to improve market oversight and avoid the kind of boom and bust in equities that shook investors around the world last year, the nation’s central bank is already extending its oversight to areas beyond its traditional focus. The People’s Bank of China (PBOC) this month expanded its powers to cap cross-border capital ...

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• 17 May

  Tragedy turns into lifeline!

  

    Sidoarjo / AFP Harwati forces a smile as she guides visitors around a bubbling mud volcano in Indonesia, pausing as they snap selfies on the bleak wasteland she once called home. These disaster tourists are a lifeline for the single mother who lost everything when the earth beneath a paddyfield near her village opened up without warning ten years ...

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• 17 May

  Dutch greenhouse grows Martian and Lunar veggies

  

    Wageningen / AFP Establishing a human colony on the Moon and travelling to Mars has been the stuff of dreams since the dawn of the space age.But these visions face many hurdles. How can humans survive for months or years in the ultra-hostile environment of space? What, for instance, will they eat? Agricultural researchers at a Dutch university say ...

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• 17 May

  The modern luxury destination

  

    Our Correspondent / Emirates Business Whether you seek the tranquility of the sea or the dynamic bustle of a modern city, Coral Beach Resort — Sharjah, a 4-Star hotel, is ideally located to offer both. Haytham Aziz, Hotel Manager, Coral Beach Resort Sharjah, said, “Coral Beach Resort offers an authentic local experience with modern luxuries that discerning business and ...

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• 17 May

  Unique range of fashionable eco-friendly artificial stones

  

    Our Correspondent / EMIRATES BUSINESS FlexStone is a decorative concrete system with a unique technology developed for designers and the evolution of the construction industry. Inspired by nature and its splendid beauty, FlexStone offers a wide range of modern and classical cladding options suitable for both exterior and interior application. With an endeavor to make a green product where ...

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