Standard Chartered appoints Emirati woman as new UAE CEO

Standard Chartered began operations in the UAE in 1958. (File/AFP)
Updated 10 September 2018
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Standard Chartered appoints Emirati woman as new UAE CEO

  • Standard Chartered has appointed Rola Abu Manneh as the new chief executive for its business in the UAE
  • Manneh joined from FAB where she served as a senior managing director and head of corporate and investment banking

DUBAI: Standard Chartered has appointed former First Abu Dhabi Bank executive Rola Abu Manneh as the new chief executive for its business in the United Arab Emirates.

Manneh, whose appointment is with immediate effect, succeeds Julian Wynter who is retiring following 26 years at Standard Chartered, the bank said on Sunday.

Manneh, an Emirati, joins from FAB where she served as a senior managing director and head of corporate and investment banking division for the Abu Dhabi region.

She has also held senior-level positions in the domestic and international banking divisions and in wholesale banking, a statement from the bank said.

“I am looking forward to continuing the growth of the bank’s business and to strengthening relationships with clients, staff, regulators and the community at large,” Manneh said. 

(With Reuters)


Hong Kong economy cools as trade tension mounts

Updated 16 November 2018
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Hong Kong economy cools as trade tension mounts

HONG KONG: Hong Kong’s economic growth slowed in the latest quarter and the government warned it could face headwinds from US-Chinese trade tension and higher interest rates.
Government data Friday showed the Chinese territory’s economy expanded by 2.9 percent over a year earlier, down from the previous quarter’s 3.5 percent.
Exports rose 5 percent over a year earlier, but the government said the impact of trade tension and weaker global demand “has begun to surface” and is “likely to become more apparent in the near-term.”
The government said Hong Kong also faces a drag from higher interest rates. The Hong Kong dollar has a fixed exchange rate with the US dollar, which requires the central bank to raise interest rates along with the US Federal Reserve even though economic growth is slowing.