August 25, 2016


Short Interest Update on HSBC Holdings plc (HSBC)

HSBC Holdings plc (HSBC) : The short interest in HSBC Holdings plc (HSBC) has increased from 6,212,226 to 6,958,166 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 2,334,754 shares are traded daily in the stock and only 3 days are left for the shorts to cover. The short open interest is 0.2% of the total shares in the hands of the public. The shorts in the stock have gone up by 745,940 shares, which is an increase of 12% over the previous reading. The short interest"...

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August 23, 2016


Net Operating Income of Al Baraka Turk Participation Bank Rise by 18% in first half of 2016

Al Baraka Turk Participation Bank, a subsidiary banking unit of Al Baraka Banking Group B.S.C. (ABG), announced that it had achieved a large increase of 18% in its net operating income in the first half of 2016 compared to the same period of 2015. It also increased its equity by 4%and financing and investments by 3% at the end of June 2016 comparing to the end of December 2015.

The financial results of the Bank for the first half of 2016 showed an increase in total operating income by 19% to TRY 635 million compared"...

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August 17, 2016


Bank Audi and Verifone Partner to Enable Retailers in Lebanon with Cashless Payment Solutions

Lebanon is emerging as one of the Middle East’s leading markets introducing innovative cashless payment solutions. As part of the country’s retail infrastructure upgrade, Verifone (NYSE: PAY), a world leader in payments and commerce solutions and Bank Audi, Lebanon’s largest bank, will provide thousands of merchants with point-of-sale (POS) devices designed to bring new payment and commerce capabilities"......

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August 16, 2016


Commercial Bank of Qatar Chooses 01 Systems’ Biometric Finger Vein Solution for Card-Less ATM Authentication

01 Systems, the regional leader in banking software solutions announced today that Commercial Bank of Qatar, is the first bank in the country and the Middle East to introduce its innovative Biometric solution that enables card-less transactions on ATMs.

Implementation of this technology means customers will be able to use this new security feature to access their account at Commercial Bank branches and ATMs with finger vein scanners without need for a bank card or PIN number.


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August 16, 2016


New Round of Funding to Fuel Continued Innovation and Growth at Baswood

Baswood Corporation, a privately held company leading innovation in sustainable wastewater treatment solutions, announced a new round of funding led by Inherent Group, LLC.

According to Michael Walker, CEO of Baswood, the funding will be used to support the company’s strong growth in North America along with continuing expansion within the Asia-Pacific marketplace. “Baswood’s patented solutions provide a significantly lower energy footprint that results in substantially lower operating costs,"......

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August 13, 2016


Algeria, WB to discuss, end of August, impacts of drop in oil prices on economy

WASHINGTON (U.S.A)- Algeria and the World Bank (WB) will hold, end of August, discussions on the prospects of economy in the wake of the weakness of oil prices said this international financial institution on Thursday.

Financial authorities will discuss, with the officials of the WB, the analysis concerning Algerian economy, published end of July in the quarterly economic information newsletter of the MENA (Middle East and North Africa) region.


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August 11, 2016


Kenyan banks pledge to cut lending rates

Kenyan lenders promised on Wednesday to cut loan rates by 100 basis points immediately, part of measures to lower borrowing costs and see off the threat of a legislative cap on rates.

Parliament passed changes to the banking law two weeks ago to cap commercial interest rates at 400 basis points above the central bank's policy rate, now 10.5 percent. The changes are awaiting presidential assent.


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August 10, 2016


Payfort opens up online pay-via-installment for Commercial International Bank customers

The new service allows ecommerce merchants to offer CIB pay-via-installment options to customers and gives consumers greater purchasing power. PAYFORT launched its installments service for the United Arab Emirates, Saudi Arabia and Egypt last year and has now integrated installment services for 15 issuer banks in the region into its payment platform.


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July 31, 2016


World Bank Prevails Investment In Algeria With False Reports

Algerian authorities informed the World Bank representatives about its protest against the reports that were published about the global economy and investment, which ranked Algeria in the bottom.

Algerian Government informed, through the Industry and Mines Ministry "Bretton Woods" of its dissatisfaction and said that the bank is biased against Algeria and described its reports as false and unfair, asserting in the text of its protest that these reports did not take into account the recent reforms that were made by Algeria"...

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July 28, 2016


MENA banking culture stunting growth

The financial banking sectors in the Middle East and North Africa (Mena) regions are disconnected from a majority of firms, with credit being largely channeled to a small number of large firms and hindering potential growth in the region, a new report has highlighted.

The What’s holding back the private sector in Mena? report published jointly by the World Bank (WB),"...

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