Dubai: A Dubai resident got the shock of her life when her post-dated cheque worth Dh30,000 for her three-month rent was mistakenly encashed two months in advance. The Filipina, who requested anonymity, said her troubles began when her bank cleared her …
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Emirates NBD pilots blockchain-based money transfers
During the pilot, remittance and trade finance processes were executed on the blockchain network with almost real-time transfers of invoices and purchase orders. Emirates NBD chairman Shaikh Ahmed bin Saeed Al Maktoum said the pilot was the first of its …
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Emirates NBD and ICICI launch trade finance blockchain pilot
Emirates NBD and ICICI Bank have partnered with a subsidiary of Indian tech giant Infosys on a pilot blockchain solution for trade finance and remittances. The banks become the first in the UAE and India, respectively, to pilot blockchain-based network for …
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Head of Hedge Fund Selection – General Manager
Al Futtaim Group – Dubai – Al-Futtaim Group is one of the leading business houses in the Middle East region, employing over 40,000 people (including those in joint ventures and subsidiaries) in diverse sectors spanning more than 60 businesses …
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Dubai lender Emirates NBD Q3 net profit slips as bad debts weigh on Islamic banking unit
Emirates NBD, the UAE’s biggest bank by assets, said its third-quarter profit slipped 1 per cent as money set aside for bad debt at its Islamic banking unit increased. Net income declined marginally to Dh1.664 billion from Dh1.673bn, missing the …
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UAE's Ajman Bank finalising $205 mln Islamic syndicated loan -bankers
DUBAI Oct 18 Ajman Bank, a United Arab Emirates-based, sharia- compliant lender, is raising a $205 million Islamic syndicated loan, banking sources said on Tuesday The loan, which has a two-year maturity and a murabaha format, will be completed imminently …
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Infosys Finacle Partners With Emirates NBD and ICICI Bank to Launch First Blockchain Pilot Network
BANGALORE, Oct. 18, 2016 /CNW/ – Emirates NBD is the First in UAE and ICICI Bank is the First Bank in India to Pilot Blockchain-based Network for International Remittances and Trade Finance EdgeVerve Systems, a wholly owned product subsidiary of Infosys …
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Emirates could cut Africa flights in face of economic challenges
DUBAI (Reuters) – Emirates airline could reduce the frequency of flights to Africa or cut routes entirely if current economic and financial challenges on the continent continue, the company’s President said on Tuesday. Emirates has expanded rapidly in …
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Credit ratings can be a force of change in UAE finance
In a recent communiqué, the UAE’s Securities and Commodities Authority (SCA) reiterated its aim of introducing credit rating regulations as part of UAE’s vision of having a well-developed, investment-conducive and resilient financial system.
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Dubai lender Emirates NBD posts flat Q3 net profit
“Both Dubai and Emirates NBD are well placed to deal with the regional challenges stemming from a lower oil price environment,” said Mr Nelson. Emirates NBD is banking on more digital programmes, with an increased focus on online and mobile banking services.
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A statement by HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs on GITEX Technology Week 2016
The e-Dirham is now considered as one of the federal government’s most innovative initiatives in the financial sector. The UAE Gate for Government Finance Statistics Reports is also considered as a leading e-system to build a consolidated financial …
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Saudi set to become top tech investor with $100 billion fund
DUBAI: Saudi Arabia and Japan’s SoftBank Group will create … who joined the Japanese firm in 2014 from Fortress Investment Group, a private equity and hedge fund group. PIF will engage its own team. Saudi Arabia’s Deputy Crown Prince Mohammed bin …
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Saudi Arabia, SoftBank aim to be world's No. 1 tech investor with $100 billion fund
DUBAI/TOKYO (Reuters) – Saudi Arabia and Japan’s SoftBank … who joined the Japanese firm in 2014 from Fortress Investment Group, a private equity and hedge fund group. PIF will engage its own team. INVESTMENT POWER Saudi Arabia’s Deputy Crown Prince …
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Goldman Sachs vindicated but bruised in court battle with Libyan fund
In the first two years of its life, the LIA invested heavily in alternatives such as private equity, hedge funds and mezzanine debt … alleged that Kabbaj flew Haitem Zarti from Morocco to Dubai at Goldman Sachs’ expense, paid for accommodation at …
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SoftBank Names Rajeev Misra As Head Of $100 Billion Tech Fund
Dubai/Tokyo: Saudi Arabia and Japan’s SoftBank Group will … who joined the Japanese firm in 2014 from Fortress Investment Group, a private equity and hedge fund group. Saudi Arabia’s top sovereign wealth fund, the Public Investment Fund (PIF), will …
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Goldman Sachs won a 2.5-year legal battle with a Libyan fund — but it got bruised along the way
In the first two years of its life, the LIA invested heavily in alternatives such as private equity, hedge funds and mezzanine debt … alleged that Kabbaj flew Haitem Zarti from Morocco to Dubai at Goldman Sachs’ expense, paid for accommodation at …
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Limited price upside seen in oil prices as Vienna outcome eyed
Dubai: Amid the positive momentum … of a significant increase in prices from current levels,” said Vaqar Zuberi, Head of Research — Hedge Funds/Portfolio Manager — Multi Manager Funds at Mirabaud Asset Management.
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