DUBAI, 19th July, 2020 (WAM) — Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, participated in the third regular meeting of the Group of Twenty, G20, Finance Ministers and Central …
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UAE- HDFC Bank June quarter profit rises by a fifth, warns of higher defaults
The net profit of India’s largest private lender, HDFC Bank Ltd, grew by nearly a fifth, it said on Saturday, driven by higher interest income and lower costs.HDFC Bank’s net profit for the quarter …
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UAE- 2,584 companies operating at DIFC, 13% YoY increase
DUBAI, 18th July, 2020 (WAM) — Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, continued to drive the …
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UAE- Hamdan bin Rashid appoints Board of Trustees of Al Maktoum Foundation
DUBAI, 18th July, 2020 (WAM) — H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, has appointed a Board of Trustees of the Al Maktoum Foundation, headed by …
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Covid-19: Be smart online and stay away from cybercriminals, warn UAE police
As people stayed home and life moved more into online activities during the Covid-19 pandemic, fraudsters also became active in the cyber world, targeting online users. With movement restrictions and …
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Saudi economy likely worse in Q2 despite June improvement: c.bank governor
Saudi Arabia’s economy likely deteriorated more in the second quarter than in the first three months of the year, the Saudi central bank governor said on Saturday. Speaking at the end of a virtual …
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UAE- DIFC beats odds, attracts more firms despite Covid
Dubai continues to be a magnet for financial and fintech firms even during the coronavirus pandemic as the number companies at the Dubai International Financial Centre (DIFC) increased by 13 per cent …
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G-20 Finance Officials Stop Short of Recommending Debt Freeze Extension
Finance officials from the Group of 20 countries Saturday called for all official bilateral creditors to implement fully a short-term debt freeze for the world’s poorest countries, but they stopped …
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G20 Finance Officials Stop Short of Recommending Debt Freeze Extension
Sources briefed on the G20 meeting said there was strong support for extending the standstill beyond the end of 2020, given the severity of the economic fallout from the coronavirus pandemic, but the …
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Saudi economy likely worse in second quarter despite June improvement – central bank governor
Saudi Arabia’s economy likely deteriorated more in the second quarter than in the first three months of the year, the Saudi central bank governor said on Saturday.
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HDFC Bank will return funds debited from Altico’s account: Aditya Puri
HDFC Bank, which had lent money to NBFC Altico, had debited ₹210 crore from its account last year. Altico had raised the money through ECB from Dubai-based Mashreq Bank, which had been deposited in …
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L&T Finance Holdings to wind up Dubai wealth management business as sale plan falls apart
UAE L&T Finance Holdings Ltd (L&TFH) on Friday said it has decided to wind up its Dubai-based subsidiary L&T Capital Markets (Middle East) Ltd, after the proposed sale plan didn’t materialise. In …
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World facing unparalleled fiscal and monetary policy issues: UAE tells G20
DUBAI — Younis Haji Al Khoori, undersecretary of the Ministry of Finance, stressed the importance of global coordination to support countries in creating the necessary fiscal space to respond to …
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DIFC reports 25% growth in number of companies in the first half of 2020
“The Dubai International Financial Centre’s ability … Samba Financial Group, Gazprom Bank, Vending Market, Brookfield Private Capital and Decimel Factor Middle East. Whereas, Ripple and …
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RBI directs HDFC Bank to return Rs 210 crore taken from Altico Capital’s account to Mashreq Bank: Report
HDFC Bank had debited the amount through an external commercial borrowing (ECB) from Dubai-based Mashreq Bank. Altico had parked the sum originally raised from Mashreq with the Indian private sector …
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Economic Citizens of St Kitts and Nevis Pass Toughest Vetting, PM Harris Tells UAE Newspaper
Individuals who have become citizens of the Federation of St Kitts and Nevis through the Citizenship by Investment (CBI) Programme will have passed some of the toughest due diligence checks. Prime Min …
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UAE president orders reshuffle of central bank
The reshuffle follows the appointment of Abdulhamid Saeed as governor in April. Sheikh Mansour bin Zayed al-Nahayan, a member of Abu Dhabi’s ruling family and deputy prime minister, was appointed …
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