Dubai’s largest bank Emirates NBD has announced a definitive agreement to acquire a 99.85 per cent stake in Turkish private bank DenizBank from Russia’s Sberbank for TRY14.6bn ($3.19bn).The deal represents a coup for Emirates NBD amid reports that it had been met with resistance from Turkish President Tayyip Erdogan, who sided with Qatar against the UAE, Saudi Arabia and Bahrain in last year’s Gulf dispute.

Source: Dubai’s Emirates NBD to acquire Turkey’s DenizBank for $3.19bn – Gulf Business

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  How viable is cryptocurrency? Managing director of Alvarez & Marsal’s Dubai office, Saeeda Jaffar, discusses the potential of cryptocurrency to become a viable means of transacting

Source: How viable is cryptocurrency? – Gulf Business

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HSBC says performs first trade finance transaction using blockchain Use of blockchain in the banking industry is expected to reduce the risk of fraud

Source: HSBC says performs first trade finance transaction using blockchain | ZAWYA MENA Edition

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Investing so your workforce thrives Ben Bengougam explains how improving your team’s wellbeing can bring positive results Businesses succeed when their workforce thrives, and in a competitive talent market, applicants are attracted to companies that value and actively enhance employee wellbeing and happiness.

Source: Investing so your workforce thrives – Gulf Business

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LONDON (Reuters) – The Bank of England looks set to keep interest rates on ice this week, capping a sharp swing in the outlook for the British central bank, which might now struggle to convince investors that it will raise borrowing costs at all this year.

Source: Bank of England to keep rates steady after market U-turn

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DUBAI, April 23 (Reuters) – Bahrain’s Ahli United Bank said on Monday it has bought a 7.3 percent stake in Saudi Arabia’s Islamic lender, Bank AlJazira, for $173 million. The investment is not expected to have any material impact on Ahli United Bank’s financial position, Bahrain’s largest bank by assets said in a statement.

Source: Bahrain’s Ahli United Bank buys 7.3 pct stake in Saudi Bank AlJazira

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Emirates NBD expands operations in Saudi Arabia Emirates NBD is the first non-Saudi bank to have a significant branch network in the country

Emirates NBD has expanded operations in Saudi Arabia with the inauguration of its first branch in Jeddah and plans for two further branches in Khobar and Riyadh, the company announced on Monday.

Source: Emirates NBD expands operations in Saudi Arabia – Banking & Finance,Saudi Arabia – ArabianBusiness.com

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charge Rick Pudner joins Lumina to focus on UK-Middle East opportunities ahead of Brexit move Lumina, the Dubai-based specialist corporate finance firm, has hired former Emirates NBD Group CEO, Rick Pudner, to help lead the company’s expansion overseas. Based out of London, Pudner will initially focus on shaping the significant bilateral economic opportunities between the UK and the Middle East, in the lead up to Brexit, Lumina said in a statement.

Source: Dubai finance firm hires ex-Emirates NBD CEO to lead Brexit

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Shareholders of Bahrain-based GFH Financial Group have voted to distribute cash dividends totalling $85 million.Dividend distribution will commence within 10 days and represent 8.72 percent of the nominal value of the ordinary shares, a statement said. Dividend distribution will commence within 10 days and represent 8.72 percent of the nominal value of the ordinary shares, a statement said.

Source: Bahrain’s GFH to hand out $85m in cash dividends – Banking & Finance,Bahrain – ArabianBusiness.com

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Specialist lender Bluestone Mortgages has changed its buy-to-let mortgage range, introducing an interest-only option aimed at customers looking for reduced monthly servicing costs. Interest-only buy-to-let mortgages will be available for customers on Bluestone’s ‘Clear’ or ‘AAA’ products with a maximum LTV of 80%.

Source: Bluestone Mortgages launches interest-only buy-to-let mortgages | Mortgage Introducer

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Investec Private Banking has simplified its residential owner-occupier and buy-to-let mortgage ranges and reduced rates on its lifetime tracker and some select fixed rates. Residential lifetime tracker rate reductions are now up to 0.70% and fixed rate reductions up to 0.40% and it increased its loan-to-value to 80% LTV but no changes above 80% LTV were made.

Source: Investec cuts residential and buy-to-let tracker rates | Mortgage Introducer

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Dudley Building Society has made changes to its expat range, launched products for professionals and reduced rates on it Right to Buy product with cashback. For professionals, including those in the process of qualifying, the deal is priced at 3.79% with a fee of £1,000 and is available up to 90% LTV.

Source: Dudley Building Society changes expat and Right to Buy range | Mortgage Introducer

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