This new route will operate with three weekly flights
Shrugging off the gloom surrounding the financial sector, the bank said its global profit rose by 19 per cent in 2008, driven by growth in wholesale banking despite worldwide economic turmoil.
“With a history going back more than 88 years across the Middle East, the bank has a proven and long-standing commitment to the markets in which we operate,” said Shayne Nelson, Standard Chartered’s Regional Chief Executive for the Middle East and North Africa. He said the bank would continue to perform a critical role supporting investment and trade growth within emerging markets.
The bank reported an overall global profit of $3.3 billion, up from $2.8 billion in 2007. Operating income rose by 26 per cent to $13.97 billion, and total assets rose by 32 per cent to $435 billion. Operating profit before tax (OPBT) rose 13 per cent to $4.57 billion, it said.
“We have made a good start to 2009. Wholesale Banking has had a very strong January, above levels seen in the same period last year, and continued to increase market share,” said Peter Sands, Group Chief Executive, Standard Chartered.
Analysts said the results marked an upbeat ending to a series of depressed results from the financial sector, including Royal Bank of Scotland’s record British corporate loss of $33.9 billion last week and HSBC’s announcement Monday it would ask shareholders for £12.5 billion pounds after seeing its profits slump 70 per cent. — issacjohn@khaleejtimes.com
This new route will operate with three weekly flights
The GCC’s industry deal makers, tastemakers, and decision-makers are invited to a series of study tours, roundtables, an industry think tank, and beyond at GRIF 2024 Edinburgh
As a part of its commitment to this cause, Hotpack Global has taken proactive steps by conducting on-ground interviews and offering opportunities to those seeking amnesty
Themed 'Content for Good,' the event will take place from January 11 to 13, 2025
New school snack range sidesteps sugar’s impact on student mood and ability to focus
The mission said that the caller will try to extort money on the pretext of solving some non-existent immigration matter
The plight of Sudan, and El-Fasher in particular, has been under discussion this week at the United Nations General Assembly in New York
Hotel occupancy rates in the emirate held steady at 66 per cent