Category: FINANCE

As Russia, India, and Estonia are considering their own digital money, Dubai has already taken it one step further … One of the world’s most successful hedge fund managers, Ray Dalio of Bridgewater Associates, certainly seems to think so.
( read original story …)

---

Federal prosecutors claim Amanat conspired to manipulate KIT Digital’s shares while defrauding investors in a hedge fund, Maiden Capital. The goal, to prop up Enable Invest, didn’t work out. The Dubai-based fund collapsed, as did Maiden Capital.
( read original story …)

---

Dubai gold prices in Dubai are Dh154 for 24-karat and 22 … two policymakers said on Friday. Hedge funds and money managers cut their net long positions in COMEX gold contracts for the sixth straight week, in the week to Oct 24 …
( read original story …)

---

Dubai-based investment company National Bonds is moving into the financial advisory space with a new digital app offering low-cost investment options, its chief executive has revealed. The company plans to challenge poor advice, offered by UAE financial …
( read original story …)

---

The UAE Ministry of Finance has announced the Executive Regulation for the Federal Decree-Law No. (8) of 2017 on Value Added Tax at a Cabinet meeting on 7 November 2017, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime …
( read original story …)

---

Dubai’s biggest bank Emirates NBD has started operations in India with the opening of its first branch in the city of Mumbai. The Mumbai branch, located in Maker Maxity, Bandra Kurla Complex, marks the bank’s fifth international branch outside of its …
( read original story …)

---

Emirates NBD, Dubai’s biggest bank, on Tuesday said it has started operations in India with the inauguration of its first branch in the country’s commercial centre, Mumbai. The Mumbai branch marks the bank’s fifth international branch outside of its …
( read original story …)

---

Mr Hassan Zubeidi, former chairman, Dubai Bank. PHOTO | FILE | NMG Former Dubai Bank chairman Hassan Zubeidi has been cited for contempt of court in a long-standing tussle with the Central Bank of Kenya (CBK) over his refusal to grant receiver managers …
( read original story …)

---

The UAE Cabinet on Tuesday approved the federal budget of AED201.1 billion ($54.7 billion) for the years 2018-2021, of which AED51.4 billion ($13.9 billion) is for next year, with no deficit forecast. Sheikh Mohammed bin Rashid Al Maktoum, Vice President …
( read original story …)

---

HSBC Bank Middle East Limited has announced the appointment of Marwan Hadi as Head of Retail Banking and Wealth Management (RBWM) in the UAE. In his new role, Hadi will be responsible for implementing HSBC’s retail banking and wealth management strategy …
( read original story …)

---

Riyad Bank will, once again this year … This exclusive Trade Finance event in Saudi Arabia is organized by Dubai based QnA International. The Summit will focus on the advancement of systems facilitating the Kingdom’s strong legacy of trade, by bridging …
( read original story …)

---

The accelerator programme opened with a series of speed meetings, where 11 select start-ups met with partnering financial institutions, including Abu Dhabi Islamic Bank, Citi, Dubai Islamic Bank, Emirates Islamic, Emirates NBD, HSBC, Mashreq, Network …
( read original story …)

---

UAE investment company, National Bonds has launched a nationwide campaign to help local residents save after a new study revealed a lack of awareness in financial planning. Launched from November 1 under the hashtag #SavingsExcuse campaign the drive aims …
( read original story …)

---

Nov 7 (Reuters) – AMLAK FINANCE: * Q3 NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS 11.8 ‍ MILLION DIRHAMS VERSUS 5.7 ‍ MILLION DIRHAMS YEAR AGO * Q3 INCOME FROM ISLAMIC FINANCING AND INVESTING ASSETS 45.6 MILLION DIRHAMS VERSUS 49.7 MILLION DIRHAMS YEAR …
( read original story …)

---

Dubai: The UAE banking sector reported strong gains from improving asset quality, interest margins from repricing of loans and continuing improvement in operating costs in the third quarter of 2017. According to the latest central bank data on system-wide …
( read original story …)

---

Dubai: The UAE’s banking sector is well positioned to withstand the macroeconomic challenges arising from low oil prices and geopolitical issues, according to the International Monetary Fund (IMF) and the Institute of International Finance (IIF).
( read original story …)

---

“With the advent of credit scoring from Al Etihad Credit Bureau, and the uptake of credit checks by local financial institutions, the UAE has become a model country in the region for sensible lending,” said Richards. UAE consumers said they still …
( read original story …)

---