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Shuaa Capital Initiates Procedures for Securities Business Egypt Re-entry

Shuaa Capital, the UAE-based integrated financial services company, has announced that it has started formal discussions with regulators in Egypt to resume the practice of securities services in the Egyptian market. As a first step, Shuaa Capital’s board of directors has set up a clear mandate aimed at expanding the range of brokerage services offered …

Nihal Samir

Dubai’s Shuaa names Colin Macdonald as new CEO

By Mirna Sleiman / Reuters DUBAI: Shuaa Capital, the struggling Dubai-based investment bank, on Tuesday named a former ABN Amro banker as its new chief executive, replacing Michael Philipp who stepped down after just six months in the job. Shuaa said Colin MacDonald, who was previously ABN’s group managing director and regional head for the Middle …


Shuaa Capital narrows Q4 loss, provisions hit 2011

DUBAI: Shuaa Capital’s net loss narrowed in the fourth quarter as the investment bank cut costs and quit unprofitable businesses to offset the impact of slumping global markets and Arab political unrest. But provisions and one-time charges related to the moves weighed on full-year results. Dubai-listed Shuaa said it had a net loss of 111.8 …


Shuaa to expand credit finance unit into Saudi

DUABI: Dubai-based Shuaa Capital, the investment bank undergoing a broad restructuring, is expanding its profitable credit finance business Gulf Finance Corp (GFC) into Saudi Arabia and may offer a stake in the unit to new investors. "It is the only business that makes money," Chief Executive Michael Philipp said in an interview on Tuesday. "We …


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