LONDON – Investment banks have warned M&A teams in Britain they cannot pitch business to clients in the European Union if there is a no-deal Brexit without an EU “chaperone” sitting in on their meeting, sources familiar with the matter told Reuters.

Source: London bankers will need ‘chaperones’ for EU clients under no-deal Brexit – sources | ZAWYA MENA Edition

Adopt AI or lose competitive edge, warns Oracle chief Speaking at Oracle OpenWorld, regional senior vice president Andrew Sutherland also praised Dubai’s “forward thinking” approach to technology

Source: Adopt AI or lose competitive edge, warns Oracle chief – Gulf Business

The decade ahead looks set to be more challenging for investors than the previous one, highlighting the need for discipline in portfolio construction, risk allocation, as well as selectivity of securities and products, said an industry expert.

Source: Challenging decade ahead for investors: ENBD

UAE’s Mashreqbank hires banks ahead of dollar bond sale The potential issue is expected to be of benchmark size, which generally means at least $500m

Source: UAE’s Mashreqbank hires banks ahead of dollar bond sale – Gulf Business

UAE lenders Abu Dhabi Commercial Bank (ADCB) and Union National Bank (UNB) have confirmed plans to merge and together acquire Al Hilal Bank to create the country’s third largest lender. The new banking group will carry the ADCB identity and will continue to have institutional backing from its biggest stakeholder – the Abu Dhabi government, a statement said.

Source: Abu Dhabi banks ADCB, UNB and Al Hilal to merge creating UAE’s third largest lender – Gulf Business

DAVOS: Amin Nasser, the president and CEO of Saudi Aramco, had a busy few days at last week’s World Economic Forum (WEF) annual meeting in Davos.

Source: INTERVIEW: Amin Nasser, Saudi Aramco’s Davos man, spells out blueprint for IPO

Bank ABC, a leading player in the region’s banking industry, was recently named the Best Trade Finance Provider in Bahrain for the year 2019 by New York-based Global Finance magazine.

Source: Bank ABC gets top recognition

  The Red Sea Development Company (TRSDC) said its board of directors has approved the masterplan of its mega luxury tourism project, which will see 22 islands being developed to provide premium facilities as part of the project.

Source: Mega Red Sea luxury project masterplan wins board approval

UAE equity markets will rally in 2019, boosted by a weaker dollar, higher oil prices and Abu Dhabi’s economic stimulus plan, said First Abu Dhabi Bank (FAB) in its Global Investment Outlook report for 2019.

Source: UAE equity market to rally in 2019: FAB report

Sharjah’s bailout of Invest Bank signals more restructuring, mergers among UAE lenders Analysts expect more mergers given a slowing economy, slide in house prices, robust accounting standards and tougher competition

Source: Sharjah’s bailout of Invest Bank signals more restructuring, mergers among UAE lenders – Gulf Business

UAE and Oman to be ‘fastest growing economies in GCC’ – report A report by the IIF predicts real GDP growth of 3.1 per cent for both countries in 2019

Source: UAE and Oman to be ‘fastest growing economies in GCC’ – report – Gulf Business

Kuwait allows foreign investors to own and trade in local banks’ shares The ownership of a foreign investor shall not exceed 5 per cent in any Kuwaiti bank

Source: Kuwait allows foreign investors to own and trade in local banks’ shares – Gulf Business

Duqm Refinery, a joint venture between Oman Oil Company (OOC) and Kuwait Petroleum International (KPI also known as Q8), signed on Tuesday seven loan agreements worth USD 4.6 billion with local, regional and international financiers.

Source: Oman’s Duqm Refinery to Receive $ 4.6 Billion in Loan Agreements | Al Bawaba