Banking & Finance

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The GCC currencies are pegged or linked to the dollar, yet with local inflation rates that are five to eight times higher than the two per cent US CPI rate,
December 17, 2014 - 00:56 GMT
Matein Khalid warns on the effects of a strengthening US dollar to other currencies

October 8, 2014

Mr. Y. Sudhir Kumar Shetty, COO, Global Operations, UAE Exchange, addressing the HR professionals at the Smart Pay HR Summit 2014 in Dubai
05:33 GMT

UAE Exchange Smart Pay organised the HR Summit 2014 recently in Dubai.

Abu Dhabi Commercial Bank
05:22 GMT
(press release)

Abu Dhabi Commercial Bank (“ADCB”) has received the accolade of ‘Best Cash Management Bank in the UAE’ from Euromoney for the 2nd time in a row , the leading international finance magazine.

October 7, 2014

Yousuf Ozair receiving the EU delegation
12:20 GMT

Experts from the European Commission hailed Dubai Customs exerted efforts in the field of intellectual property rights protection, as well as the department’s progressive development of systems and programs geared toward combating the smuggling and trafficking of counterfeit products.

The workshop brought together bank executives, representatives of international organisations and research centres as well as senior scholars
07:16 GMT
(press release)

Abu Dhabi Islamic Bank convened a high-level workshop in the United Arab Emirates last week to discuss the current status of the Islamic finance industry and how innovation can sustain its rapid growth.

October 2, 2014

Emaar Properties is now worth less than it was before the sale of 15 per cent of EMG in the IPO.
15:46 GMT

The DFM looks particularly overbought as one of the best performing stock markets in the world, up 50 per cent year-to-date, and could well be heading for a fall.

At the Africa forum, Shaikh Ahmed also expressed that Dubai’s leadership is concerned that rising property prices could make the emirate too expensive and it will consider steps to limit increases.
13:46 GMT

The new 2022 payment will also be augmented in a number of ways aimed at persuading creditors to grant more time, according to reports.

October 1, 2014

Jean Claude Farah, President, Middle East, Africa, Asia Pacific, Eastern Europe & CIS, Western Union having just completed a transaction using the automated self-service money transfer kiosk located in Dubai Internet City
11:15 GMT
(press release)

The Western Union Company announced that it has gone live with automated self-service kiosks in the UAE that allow customers to pay bills and send money to friends and family anywhere in the world via easy-to-use touch screen terminals on a 24x7 basis.

During the opening
11:02 GMT
(press release)

Doha Bank, the leading private commercial bank in Qatar, announced today opening of its first Electronic Banking Branch in Dubai.

September 30, 2014

On Sunday, Erdogan again slammed the credit agencies, saying they were making "foolish statements".
22:44 GMT

Markets are looking ahead to Fitch's announcement of Turkey's credit rating and economic outlook, which is due on Friday.

Strong economic data could prompt the US central bank to raise interest rates faster and sooner than expected, which could boost the dollar and hurt non-interest-bearing bullion.
17:58 GMT

Gold fell on Monday as downward pressure from a strong dollar outweighed support from unrest in Hong Kong.

First Gulf Bank
10:46 GMT
(press release)

FGB, one of the leading banks in the UAE, was recognised as an employer of choice in the UAE by the GCC Best Employer Brand Awards 2014.

HE Younis Haji Al Khouri, Undersecretary of MoF
05:26 GMT
(press release)

In line with the Federal Government’s ‘smart government’ directives, the Ministry of Finance (MoF) launched the second phase of the Federal Financial System.

September 29, 2014

NASDAQ Dubai is the third largest exchange in the world by value for listed Sukuk, or Islamic bonds, at 19.2 billion dollars.
17:51 GMT

Emirates NBD, one of the region’s leading banking groups, is now the largest issuer of conventional bonds on the region’s international exchange.

Traders in the black market told Sudan Tribune they expect the dollar price to decrease to 8 SDG.
13:03 GMT

Sayed Ali Zaki, an economist, for his part said the decrease in exchange rate is due to NISS's campaign against black market traders, as well as reduced Forex demand.

Al Hilal Bank
12:28 GMT
(press release)

Al Hilal Bank, the UAE's leading progressive Islamic bank, will bring joy to children celebrating Eid Al Adha this year with a generous ‘Eidiya’ or money gift for its young ‘Seghaar’ account holders.