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Banking & Finance

Standard Chartered liable to legal action: UAE Central Bank
The British-based bank will be liable to legal action by the account owners “because of the material and moral damage which is falling on them”, the central bank said.
Mortgage market is yet to pick up momentum
Dubai will see increased stability and help mature mortgage market
Arab Banking Corporation earnings surge 22%
Net profit for the second quarter was $66 million, 18 per cent higher than $56 million reported last year.
Gulf Finance House records $10.6m profit
GFH reported a net profit of $10.6 million for the period compared with $4.2 million for the prior year period.
More banks to repay crisis support funds
New liquidity requirements for Basel III likely in H2
Ahli United Q2 gain rises 35.1%
The bank’s net attributable profit for the three months to June 30 was $125.9 million, compared with $93.2 million in the corresponding period of 2013.
Al Baraka Bank income climbs
The bank, which has operations in the Middle East, Asia and Africa, made a net attributable profit of $43.8 million for the three months to June 30, compared with $42.2 million in the year-ago period of 2013.
Standard Chartered faces fine as profit plunges 20%
The London-based bank said on Wednesday problems in its surveillance system — part of its anti-money laundering systems and controls — were likely to result in a fine, remedial action and an extension of a two-year monitoring period.
ECB likely to hold its fire despite lower inflation
For now, the ECB is in “wait-and-see” mode to assess the impact of the unprecedented stimulus measures it announced in June, including taking one of its key interest rates into negative territory, they said.
Major central banks set for parting ways
UK looks likely first mover, India and Australia to stay put
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