BNP Paribas

BNP Paribas stops funding shale energy firms, boosts green projects

Bengaluru - Muslimchronicle

BNP Paribas, France’s biggest listed bank, said on Wednesday it would no longer work with oil and natural gas companies that primarily do business in shale or oil sands as it plans to boost support for renewable energy projects. The bank also said that it would no longer finance new projects that are primarily involved in the transportation or exportRead more

France assigns magistrates to BNP Rwanda lawsuit

Paris - Muslimchronicle

France has assigned magistrates to investigate allegations that banking giant BNP Paribas was complicit in the 1994 genocide of the Tutsi minority in Rwanda, a source close to the case told AFP Monday. In June, three non-governmental organisations filed a lawsuit accusing the bank of financing the purchase of "80 tonnes of arms used to carry out genocide" by theRead more

BNP Paribas signals lower retail revenue in France

Paris - Arab Today

BNP Paribas on Thursday signaled lower revenue at its cash cow French retail operation as it feels the pinch from low interest rates and declining product fee income. Chief Executive Jean-Laurent Bonnafe said France's biggest bank will adapt in line with other retail banks that are trying to boost efficiency and develop digital strategies. Bonnafe said those retail banks whichRead more

Binladin Group makes delayed payment on SR1 billion sukuk

Riyadh - Arab Today

Contracting giant Saudi Binladin Group (SBG) has repaid an SR1 billion ($266.7 million) Islamic bond that matured in late June, a sign of modestly easing pressure on the firm, banking sources told Reuters. The payment came after a delay of several weeks and used money from an SR2.5 billion loan the company secured from two local banks in May, theRead more

Djokovic Beats Nadal to Reach BNP Paribas Open Final

Indian Wells - Arab Today

Novak Djokovic beat Rafael Nadal to reach the BNP Paribas Open Final at Indian Wells on Saturday. Serbia's world number one defeated Nadal 7-6 (7-5) 6-2 for a 10th win in their last 11 meetings. The world's top-ranked Djokovic will meet Milos Raonic in Sunday's final, with Djokovic trying to win a record fifth title in the California desert. HeRead more

BNP Paribas profits surged to €6.7bn in 2015

Paris - Arab Today

French banking giant BNP Paribas on Friday reported a net profit of 6.7 billion euros for 2015, more than a year after a record fine by US authorities. The result marks a jump from the 157 million euros ($176 million) reported in 2014, when earnings were hit by the 6.6 billion euro fine by US authorities for breaching embargoes onRead more