United Emirates - Citibank, a member of Citi, will be the first bank in Central Europe Middle East and Africa region to partner with Visa on the launch of Visa Signature on its award-winning PremierMiles credit platform. The new PremierMiles Visa Signature credit card is being launched as the bank continues to enhance its portfolio of premium Visa products to customers in the UAE offering an extensive array of exclusive travel and entertainment benefits and privileges. "Citi is proud to be Read more [...]

Jeddah - Arab News Saudi banks are doing a good job in the field of Shariah-compliant financing and are creating more excitement in the world about the industry, says SEDCO Capital CEO Hasan S. AlJabri. SEDCO Capital has worked with some of the leading global managers to develop Shariah-compliant investments that are as sophisticated and at often times more rewarding than conventional investments due to its low leverage, he says. “The virtue of Islamic finance is the creation of real value Read more [...]

Abu Dhabi Abu Dhabi financial services company Invest AD and Sberbank, one of the largest banks in Russia, have signed a co-operation agreement to introduce their clients to opportunities in their respective private equity, trade finance and capital markets. As per the agreement signed in Moscow, Sberbank and Invest AD will co-operate on investment in the Russian and the Middle East markets. The two institutions will also give each other legal support and share market research. The agreement Read more [...]

Wal-Mart Stores prepared its entry into India's supermarket sector in 2010 with a $100 million investment into a consultancy with no employees, no profits and a scant $14,000 in revenue. The company, called Cedar Support Services, might have been a more obvious selection four months earlier: it began its corporate life as Bharti Retail Holdings Ltd, according to documents filed with India's Registrar of Companies. The Cedar investment is now the focus of an investigation by India's financial Read more [...]