Surplus reserves at UAE banks and other financial institutions surged to Dh42.8 billion ($11.6 billion) by the end of June, a growth of 77.6 per cent, or Dh18.7 billion, from Dh24.1 billion in the first month of the year 2017, according to UAE Central Bank …
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UAE economy benefitting from rebound in global trade and tourism
In a new report, released today, the accountancy and finance body says the UAE has a more favourable economic outlook because it is the most diversified economy in the GCC. Fuel generates just 22 per cent of the country’s export revenues. The report …
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Surplus reserves at UAE banks increase to AED 42.8 billion in June
According to banking experts, the strength of the UAE banking sector has enabled it to consolidate its financial reserves despite slower growth in regional and global economy, highlighting the high investment returns provided by the UAE economy as one of …
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UAE bank robbed in broad daylight by masked men
According to the police, the robbery took place at a branch of a bank at Al Buhaira road along the corniche at around 11am. A robbery took place at a bank branch in Sharjah on Tuesday morning, Sharjah Police has confirmed. According to the police, the …
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UAE’s Oil Firm ADNOC Negotiates Taking Up To $5B Loan
… Company (ADNOC), the state-held oil company of the United Arab Emirates (UAE), is in discussions to get a loan of up to US$5 billion, Reuters reported on Monday, citing banking sources, as low oil prices are forcing giant oil companies in the Middle …
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India clarifies income tax rule for NRIs
Dubai: The Government of India has clarified that Indian expatriates have to provide their foreign bank account details only if they do not have a bank account in India when they apply for income tax refunds. The government’s official statement issued on …
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First Abu Dhabi Bank to accelerate DevOps success with Validata’s Release Automation Suite
(MENAFN Editorial) FAB is one of the leading banks in the UAE, established from the merge of First Gulf Bank and National Bank of Abu Dhabi (NBAD), offering an extensive range of tailor-made solutions, products and services, in addition to customised …
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The Debt Panel: Dubai resident behind on school fees, rent and car loan and cannot afford consolidation loan payments
I suspect the issue with the bank is that the amount of the current loan, in relation to the current income, is in excess of the debt burden ratio (DBR) as set by the UAE Central Bank. This is the percentage of income that is used to repay debts and is …
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Usman Dar claims Asif ‘hid’ UAE employment
He said that at first Prime Minister Nawaz Sharif proved to be chairman of the FZE Dubai Company as per the JIT report and now Khawaja Asif contract has come before the nation. He said that the Iqama and offshore bank accounts of all candidates of the PML …
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UPDATE 2-9mobile asks Citi, Standard Bank to find new investors – source
Central Bank Governor Godwin Emefiele said earlier on Tuesday that … The crisis forced the telecoms company’s one-time UAE parent Etisalat to terminate its management agreement with its Nigerian business and surrender its 45 percent stake to a trustee …
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Lulu Exchange acquires Al Falah Exchange
Promoth Manghat, the chief executive of UAE Exchange – the biggest foreign exchange network in the Emirates and the GCC – said he expected more consolidation in the industry to follow. This, he said, follows new Central Bank regulations on capital …
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Abu Dhabi Ports said to weigh IPO amid UAE listing spree
Abu Dhabi National Oil Co selected underwriters and advisers for an IPO of its gas stations unit … newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
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As hedge funds bet on falling oil, traders see a different story
London: Hedge funds are still holding large bearish bets against oil and … is priced at $4.45 a barrel under the benchmark Dubai, the strongest pricing since the country started exporting it in June 2015. In the world of sweet crude, differentials …
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Traders Think Hedge Funds Are Missing a Trick With Oil
Hedge funds are still holding large bearish bets against oil and … is priced at $4.45 a barrel under the benchmark Dubai, the strongest pricing since the country started exporting it in June 2015. In the world of sweet crude, differentials for certain …
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UAE credit demand rises ‘slightly’ – central bank
Demand for business credit and personal loans in the UAE rose slightly in the second quarter of 2017 and is expected to continue to increase slowly in the current quarter, according to the central bank. The latest Credit Sentiment Survey from the UAE …
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UAE’s Adnoc in talks with banks for big syndicated loan, project bond: sources
DUBAI (Reuters) – State-owned energy giant Abu Dhabi National Oil Co (Adnoc) is in talks with regional and international banks to obtain a syndicated loan worth several billion U.S. dollars, banking sources familiar with the discussions said on Monday.
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UAE credit demand begins to stabilise from second quarter
Dubai: Demand for credit in the UAE appeared to have stabilised following the recovery registered in the previous quarter, according to the second quarter credit sentiment survey of the Central Bank of UAE. The collects information from senior credit …
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