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FINANCIAL NEWS
More Dubai investment bankers to lose jobs
27 Sep 2012
(MENAFN) Top global investment banks are trimming more jobs in the Middle East pressured by the need to slash costs and weaker businesses, Reuters reported.
This time the job cut rounds has included directors and, in Nomura Holdings’ case, the head of its investment banking operations in Dubai.
For years, foreign lenders have built full-fledged investment banking teams in the region, particularly in Dubai, driven by big hopes of petrodollars being injected in overseas investments by regional sovereign wealth funds and state-backed firms.
However, those prospects faded in the wake of the 2008 global financial downturn, shrinking investor appetite, and the region was hit hard by a slump in oil prices and a real estate market crash.
More News
05 Aug 2024
With the support of BBK, BIBF and BJA hold a graduation ceremony for journalists completing the training program
29 Jul 2024
BBK discloses its financial results for the half year ended 30th June 2024
09 Jun 2024
BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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