Dubai-based Noor Bank has laid off several dozen employees, banking sources told Reuters on Tuesday, the latest lender to adjust to more subdued growth levels in the local financial services sector. Although the number of jobs cut in the past few weeks was …
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Abu Dhabi Islamic Bank invests heavily in digital services
Details on entering MEED’s new awards programme can be found below As the UAE’s banking industry becomes ever more competitive, Abu Dhabi Islamic Bank (ADIB) says it will continue with its current strategy based on prudence in risk management …
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UAE’s Union National Bank opens Shanghai branch
Union National Bank (UNB), 50 percent owned by the Abu Dhabi government, has begun operations at its branch in Shanghai, becoming the first bank from the UAE to operate a branch in mainland China, the bank said on Tuesday. The Shanghai presence will …
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Deposits in UAE Banks Surge to $120 Billion in H1
according to UAE Central Bank statistics. The term ‘Short Term Deposit’ refers to an amount of money placed in a bank or financial institution for a term no longer than one year. It will usually earn a fixed rate of interest. According to Central Bank data …
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UAE bank profitability slips slightly in second quarter, Alvarez & Marsal survey shows
UAE banks saw profitability decrease in the second quarter because of lower non-interest income but on the bright side net interest margins are increasing, according to the latest UAE Banking Pulse report from Alvarez & Marsal, the global professional …
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Make no mistake: Mobile is the future of banking
Instant. Accessible. Convenient. All words to define what mobile banking means today for customers in the UAE and Middle East, and across the world, and indeed what they now expect from banking services. We’re seeing banks today recoiling from large …
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Dubai’s Noor Bank Downsizes in Huge Restructuring: Sources
Noor Bank has allegedly made dozens of redundancies at its branches this week, with up to 200 redundancies in total planned, according to media reports. Noor Bank has issued a statement saying that these redundancies are part of its restructuring programme …
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UAE banks blank cheque abuse continues to shock the international banking community
Outmoded blank security cheque system wide open to abuse, claim critics UAE banks still demand blank cheques as security for credit. They can quite legally fill out the amount themselves and cash the cheque whenever they see fit, regardless of whether …
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Dubai’s solar city goes live
Dubai’s Sustainable City has kicked off operations of a solar installation that will eventually produce up to 10 MW of power at maximum capacity. Completion of the first phase of the project has seen 24,170 solar panels installed so far. The next phase …
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Traders Hotel, Qaryat Al Beri, Abu Dhabi
Anyone who enjoys spending time by the water will enjoy a stay at Traders Hotel. With the capital’s Maqta Creek on its doorstep, this 301-room property not only has its own private beach, but also offers some of the best night views in the city.
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UAE: Silicon Valley of Middle East
Fawaz H. Zu’bi, founder, chairman and CEO of Silicon Badia, who has been at the forefront of the region’s technology development efforts over the past 15 years, says: “Dubai has certainly caught the attention of regional VCs, and beginning to pop up more …
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UAE, other Arab countries, condemn van terror attacks in Spain
The United Arab Emirates has condemned the van attacks carried out terrorists … In a statement carried out by Bahrain News Agency, BNA, the ministry extended heartfelt condolences to the families of the victims and wished a speedy recovery for the …
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UAE consumers: The unsuspecting victims of counterfeit products
Unfortunately it’s not being ploughed back into print businesses to help them develop new, cutting edge technology. More often that not that money is being funneled into organised crime or additional illegal activities. HP, with UAE law authorities …
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UAE-based Haj packages see 30% price drop
Dubai: Prices of UAE-based Haj packages have fallen around 30 per cent this year because of greater competition among Haj tour operators, following a new pilgrim quota system, operators and officials have said. This year, 6,228 Haj permits were allocated …
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UAE students score high in A level results
Dubai: Over 3,500 students in the UAE who appeared for their … Principal Brendon Fulton at DBS told Gulf News: “We are absolutely delighted with the performance of our A-Level students this year, who, in the face of significant curriculum changes …
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Dubai population set to double by 2027: say researchers
But Dr. Fayez Elessawy, a researcher at UAE University (UAEU), who led the research told UAE daily Gulf News, the growth was due to immigration and not natural growth. Elessawy said the Dubai-focused research showed that the city had seen a “rapid …
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Shock over death of politician from Kerala in Sharjah
died in a freak accident in Sharjah. The deceased, Sunitha Prashanth, 40, first fell on the road from a moving car and then hit an electric post, community sources told Gulf News. While she died on the spot, her four women colleagues in the car suffered …
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