Inflation is a natural follow-up to any contraction or recession,” said Hind Eisa Salim, executive vice-president and head of services and manufacturing at Mashreq Bank. 2022 forecast: Why UAE …
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UAE begins implementation of display of caller identity of companies
Feature informs customers the caller’s ID, even if the caller’s contact is not saved Dubai: The Telecommunications and Digital Government Regulatory Authority (TDRA) of the UAE announced that the …
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Dubai Police Anti-Narcotics cell helps arrest 19 international fugitives, blocks 75 online sites
Dubai: The General Department of Anti-Narcotics at Dubai Police supplied liaison officers of 23 different countries with 76 security tips in 2020, which aided the arrest of 19 international fugitives …
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UAE – 3iQ to release new products in Middle East
Q anticipates that 2022 will see continued growth for bitcoin and ether as they continue to trickle into mainstream adoption. By Fred Pye Publi …
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Saudi central bank to launch repo operations using Bloomberg from this month
Dubai: The Saudi Central Bank (SAMA) announced that it will conduct repo, reverse repo and Open Market Operations (OMO) with locally operating banks using Bloomberg’s Auction System from January 2022.
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UAE Imposes Five-Year Jail Term and Up to $272,000 in Fines for Crypto Scam Artists
The United Arab Emirates (UAE) has introduced a new law that would impose a five-year jail term and up to $272,000 for perpetrators of crypto scams.
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UAE bank timings in 2022 – all you need to know
banks across the UAE have announced new timings for their branches, which would affect how you can reach out to your bank. In a circular issued by the UAE Central Bank, it was noted that banks in …
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UAE – EGA repays Al Taweelah project finance facilities early in optimisation of capital structure
ABU DHABI, 30th December, 2021 (WAM) — Emirates Global Aluminium (EGA) today announced the early, full repayment of the project finance facil …
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UAE Central Bank slaps Dhs600,000 fine on exchange house for using civilian vehicle to transport money
The exchange house used a civilian vehicle to transport the money instead of using Cash-in-Transit Agent. By doing so, it violated the CBUAE regulations and knowingly put the lives of its employees at …
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UAE money exchange house fined Dh600,000 for transporting cash in civilian car
The company failed to employ the services of a licensed cash transporter Dubai: The UAE Central Bank has fined a local exchange house Dh600,000 for transporting money in an ordinary civilian vehicle …
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EDB Banking App Backs 500+ UAE Firms Since September
The Emirates Development Bank said that more than 500 United Arab Emirates-based SMBs and startups have opened accounts with its Business Banking App.
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EDB’S Business Banking App enables banking access to 500 UAE companies in 3 months
Emirates Development Bank [EDB], a key financial enabler of the country’s economic diversification and industrial transformation agend …
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UAE will remain an investment magnet for Kuwait’s businesses
Whatever changes are happening at UAE stock markets will draw in more Kuwaiti funds Over the past 50 years, the UAE has transformed into one of the largest Middle East economies – and the most dynamic …
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Stop payment orders on cheques are no longer valid in UAE, except under these circumstances
Declaration of insufficient funds in accounts is not a violation of banking secrecy Dubai: Stop payment instructions by issuer of a cheque to his bank are no longer valid except under two specified …
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UAE Central Bank issues seven silver commemorative coins in honor of founding fathers
The Central Bank of the United Arab Emirates (CBUAE) has announced the issuance of seven commemorative silver coins in one set to mark the 50th anniversary …
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Man held in Dubai for taking bank loans in compatriots’ names
Dubai: A Dubai-based man has been charged with duping four of his countrymen by obtaining their documents and making them sign bank loan papers claiming they were job contracts. According to Dubai …
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From a salary of Rs10k, NRI expat became an Indian millionnaire shortly after coming to Dubai: Here’s how
Long-time UAE resident saves 20 per cent of his income and doubles his money, here’s how The 48-year old Indian expat has dabbled in investing across industries, which includes mutual funds, insurance …
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