Banks in the UAE recorded a healthy profit growth of 4.6 per cent in 2017 while maintaining a close to zero revenue growth for the second year in a row, latest annual banking data shows. The revenue growth stagnation for the UAE banks stems from a tighter …
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48 Dubai govt employees tie knot in mass wedding
His Highness Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai, UAE Minister of Finance and Chairman of Dubai Municipality on Tuesday night witnessed the ninth joint Mass Wedding celebrations of the employees of local departments in Dubai.
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Central Bank’s gold reserves expected to rise to 9m tonnes in 2018
Abu Dhabi: A report by the Ministry of Economy predicts that the gold reserves of the Central Bank of the UAE will increase to 9 million tonnes in 2018, a growth of 19.5 per cent, compared to 7.53 per cent in 2017. The majority of Central Bank’s holdings …
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Noor Bank to meet investors ahead of dollar sukuk
Dubai: Noor Bank will start meeting investors on April 6 ahead of a potential benchmark five-year US dollar-denominated sukuk issue, a document from one of the banks hired to set up the meetings showed on Thursday. Benchmark bonds are generally $500 …
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UAE Ministry of Finance Participates in the 43rd Annual Meeting of the Islamic Development Bank Group in Tunisia
HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, participated in the 43rd Annual Meetings of the Islamic Development Bank (IDB) Group held in Tunisia. The meeting was participated by 57 ministers of Finance and Economics of the IDB group …
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Dubai contractor Drake eyes $122m sukuk to enhance ops
In January, the Dubai-based contracting giant announced that it has successfully completed the restructuring of its corporate general bank debt in the UAE. The company said that it has also secured new credit lines and working capital facilities for its …
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UAE bank increases loan limits to nearly Dh200,000 for average earners
Dubai: A UAE-based bank is increasing the loan limits for first-time and existing borrowers, allowing a number of average-income earners to get financial assistance of nearly Dh200,000. Emirates Islamic announced on Wednesday that it is now allowing …
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GCC bank profits showed resilience in 2017 even as revenues fall sharply
BCG Banking Performance Index measures 44 banks across the GCC, representing 80 per cent of the regional banking market. Banks in the UAE were the most profitable in the GCC, netting in $20.4 billion in 2017 compared to $20.3bn in 2016, a 0.5 per cent …
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SHUAA to act as liquidity provider to Bank of Sharjah
Dubai: Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than 5 per cent stake in the bank at any point …
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Societe Generale sets eyes on more Saudi deals as bank expands in MidEast
The Paris-based lender on Monday said it created four new positions in its Middle East hub in Dubai. Amine Jaoui will lead public sector coverage focusing on the bank’s relationships with governments, central banks and sovereign wealth funds, while …
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UAE industrial giant posts 18% jump in revenues
In addition, the financial results of Abu Dhabi-based Senaat confirmed … Subscribe to Arabian Business’ 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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10 blogs to help you achieve financial independence
… dozens of bloggers keen to reveal their path to early retirement and to pass on tips for those seeking their own financial freedom. Dubai-based Sébastien Aguilar, founder and president of the non-profit community SimplyFI, a non-profit community of …
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UAE’s banking customer satisfaction level surges to a new high
Dubai: Customer satisfaction among customers of UAE banks surged to a new high in 2017, with 93 per cent of retail banking customers indicating they are satisfied with the performance of their main bank, according to the UAE Banks Federation (UBF) Trust …
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Trust in UAE Banking Sector Remains High at 68%
Trust Index Survey 2017 reveals consumer confidence remains steady and robust, with 93% of UAE retail banking customers satisfied with the performance of their main bank The UAE Banks Federation (UBF) has unveiled the results of its 2017 Trust Index annual …
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More UAE consumers now pay with credit, debit cards instead of cash
Dubai: For many people in the UAE … For one, there will be less time spent on banking, as well as on transactions at the shops. And what’s more, there will be less incidence of cash-related crime. “Consumers across 100 cities could achieve nearly …
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UAE banks may hike fees to offset additional VAT costs
“We believe it quite probable that banks will eventually be forced to increase prices to their customers to maintain their current profitability,” Clare McCol, partner, head of Indirect Tax at KPMG, wrote in ‘UAE banking perspectives 2018’, report.
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Trust in banking UAE sector remains high at 68 per cent
The results of this year, which provide a comprehensive overview of consumer confidence, showed that trust levels remain high, with 68 per cent of respondents stating their trust in the banking sector. In addition, 93 per cent of UAE retail banking …
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