Foreign deposits at Qatar’s banks fell the most in almost two years last month as customers withdrew funds following a diplomatic row with four Arab nations led by Saudi Arabia.
Non-resident deposits with the 18 lenders in the world’s biggest liquefied natural gas exporting nation dropped 7.6 per cent to 170.6 billion Qatari riyals (Dh172.63bn) in June from a month earlier, according to data posted on the Qatar Central Bank’s website on Wednesday. The decline is the biggest since November 2015, the"...

Qatar’s banking system has witnessed double-digit deposit growth since last December as oil prices have firmed up over that period, according to a new report by NBK Economic Research.
Total deposits rose by 16.4% year-on-year (y-o-y) by end-April. Both public and private sector deposits have led the way, rising by 0.3% y-o-y and 12.1% y-o-y, respectively.
Non-resident deposits, though still increasing at the rate of 56% y-o-y, are not doubling as they were last year, National Bank of Kuwait said in its economic"...

(ME NewsWire)-- Visa (NYSE:V), a global payments technology company, today announced expanded transaction processing capabilities in two state-of-the-art data centers in Singapore and the United Kingdom. The new global processing hubs will increase the speed, resilience and geo-diversity of Visa’s infrastructure, while strengthening the company’s ability to deliver new and more sophisticated ways to pay in today’s hyper-connected global economy.

“Commerce"...

Banks pulled Qatar's stock market higher in Monday trading while Saudi Arabia's market edged down after a string of second-quarter earnings, with telecommunications firm Mobily plunging on a bigger-than-expected loss.

Stock markets in the UAE were little changed amid thin trading.

The Qatari Exchange added 0.8 per cent as Qatar National Bank climbed 2.6 per cent"...

QIIB, one of the leading Islamic lenders in Qatar, has recorded an impressive QR465.3m net profit for the first half of 2017 (H1, 17), up 5 percent compared to the same period in 2016. QIIB’s assets grew by 8.5 percent to QR45.9bn during the period.

Announcing the financial results, Sheikh Dr Khalid bin Thani bin Abdullah Al Thani, Chairman and Managing Director of QIIB, said the solid 5 percent year-on-year growth in the bank’s net"...

(ME NewsWire)-- Mavenir, the leader in accelerating and redefining network transformation for Service Providers, today announced a new R&D and 5G Innovation centre of excellence in Ra'anana, Israel focused on 5G Network and Services solutions.

The next generation of the network infrastructure will be based on a common flexible infrastructure that supports applications with stringent quality of experience"...

QNB Group, the largest financial institution in the Middle East and Africa, has recently commenced operations in the city of Mumbai, the economic capital of the Republic of India.

The start of the Group’s operations in the Republic of India comes in support of its vision to become a leading bank in the Middle East, Africa, and Southeast Asia by 2020, in addition to establishing"...

Commercial Bank of Qatar (CBQ), the Gulf Arab state's third-largest lender by assets, reported a 58.4 per cent slump in second-quarter net profit, missing analysts' forecasts, as provisions for bad loans jumped.

The bank is having to contend with a rise in soured loans at a time when Qatar's banking system remains vulnerable to a regional rift involving the United Arab Emirates, Saudi Arabia, Bahrain and Egypt imposing sanctions on Qatar.

(ME NewsWire)-- Marc Firestone, Senior Vice President and General Counsel of Philip Morris International (NYSE/Euronext Paris: PM), today appeared as an invited witness before the Commission on Security and Cooperation to offer expert testimony in support of the Commission’s objective of addressing the security and economic threats posed by the illicit trade in tobacco. The hearing was held on Capitol Hill in Washington, D.C.

The"...