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Credit Agricole to pay $787 mln to resolve U.S. sanctions probe

BY Reuters |

France's Credit Agricole SA has agreed to pay $787 million for moving hundreds of millions of dollars through the U.S. financial system in violation of sanctions against Iran, Sudan, and other countries, U.S. authorities said.
Abu Dhabi's tax-free financial zone says open for business

BY Reuters |

The Middle East's newest financial centre opened for business as the Abu Dhabi Global Market (ADGM) said it was ready to receive applications from financial institutions for operating licenses.
GFH to acquire $125 million industrial real estate portfolio in United States

BY Reuters |

Bahrain-based Islamic investment banking firm GFH Financial Group has agreed to acquire an industrial real estate portfolio in the United States in a deal worth $125 million.
Former UBS banker fined by Singapore regulator for insider trading

BY Reuters |

Singapore's financial regulator said it has fined a former Indonesia investment banking head of UBS S$434,912 ($313,857) in a 2012 insider trading case.
Dubai developer to build $4.8 bln tourist resort in Bosnia

BY Reuters |

Dubai-based developer Buroj Property Development said it plans to invest 4.3 billion euros ($4.8 bln) to build a luxury tourist resort near Sarajevo, in what could be the biggest foreign investment of its kind in the Balkan country.
A $70 oil floor? Fat chance, but OPEC price plan may be first step

BY Reuters |

The safe money for oil traders is betting that Venezuela's plan to resurrect OPEC's old price band mechanism, attempting to set a $70 floor for the battered market, will be doomed from the start.
Saudi bourse regulator tightens curbs on anonymous investors

BY Reuters |

Saudi Arabia's market regulator has further tightened its restrictions on anonymous investors trading shares through brokers, citing the need to prevent money laundering and financing of militant groups.
LPC-Egyptian borrowers face challenges raising syndicated loans

BY Reuters |

Egypt's return to the international syndicated loan market is being hampered by September's global volatility and the growing liquidity crunch in the Middle East, which is pushing loan pricing higher, banking sources said.
U.S. airlines hit Justice Department hurdle in Gulf trade dispute

BY Reuters |

The U.S. Justice Department has raised concern about demands by U.S. airlines that the government limit flights of three Middle Eastern rivals to the United States, three sources familiar with the matter have said.
Abu Dhabi's ADWEA in talks with banks for $350 mln project bond

BY Reuters |

Monopoly utility Abu Dhabi Water & Electricity Authority (ADWEA) is in talks with banks about issuing a project bond as early as this year to refinance debt used to construct a power and water plant, two sources aware of the matter said.