'Controversial new rules for hedge fund and private equity fund managers operating in Europe are moving forward after winning the backing of European Union finance ministers' as per the Financial Times. There are still significant differences in the two sets of draft regulations, but meetings are expected to take place with the intention of resolving the issues before August 2010.

The shock claim that Goldman Sachs orchestrated a $1 billion fraud against investors is causing ripples in the financial services community around the world. Frankly, I’m not so sure what the fuss is all about. The alleged fraud pales in comparison to the wider role investment banks have played in perpetrating the largest fraud

JEDDAH: The National Commercial Bank's (NCB) net income for Q1, 2010 reached SR1.41 billion, an increase of 35.1 percent over Q1, 2009.

The Oman Economic Review has recently published a report on the Omani Banking Sector1. The report ranks the 5 biggest banks based on three parameters: growth, profitability and sustainability. The largest bank in the country, Bank Muscat, came out clearly at the top, followed by Oman Arab Bank and Bank Dhofar. The small but aggressive National Bank of Oman comes in at #4, while the list is rounded up by Oman International Bank at #5.