“We believe it quite probable that banks will eventually be forced to increase prices to their customers to maintain their current profitability,” Clare McCol, partner, head of Indirect Tax at KPMG, wrote in ‘UAE banking perspectives 2018’, report.
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Trust in banking UAE sector remains high at 68 per cent
The results of this year, which provide a comprehensive overview of consumer confidence, showed that trust levels remain high, with 68 per cent of respondents stating their trust in the banking sector. In addition, 93 per cent of UAE retail banking …
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UAE regulator orders money exchange houses to raise standards
Money exchange houses in the United Arab Emirates have been ordered by the central bank to raise their standards, after several banks cut ties with them due to concerns about the risk of illicit financial flows. The UAE’s huge expatriate workforce and …
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UAE attracts $10.3 billion FDI in 2017
according to the UAE Central Bank. The forthcoming Annual Investment Meeting will focus on accelerating FDI flows across the world and explore new ways to boost investment and trade,” said Dawood Al Shezawi, the CEO of AIM. A recent report by Bank …
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Dubai’s Damac to hire Barclays, HSBC for possible sukuk – sources
Damac Properties hired banks including Barclays and HSBC Bank for a possible sale of US dollar-denominated Islamic bonds, according to people familiar with the matter. The second-largest listed real estate developer in Dubai is expected to hire more banks …
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Gold prices rise, 24k priced at Dh160 in Dubai
Meanwhile, 24k gold is priced at Dh160.50 and 22k can be bought at Dh150.75 in Dubai. After falling in the past three … eased 0.2 percent to 89.988. Hedge funds and money managers increased their net long positions in COMEX gold contracts in the …
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Emirates Institute for Banking and Financial Studies joins forces with KPMG
This initiative was formalized and agreed upon by Jamal Al Jassmi, General Manager of EIBFS, and Emilio Pera, Partner – Head of Financial Services, KPMG Lower Gulf Limited, at the EIBFS campus in Dubai. As part of the agreement, EIBFS and KPMG will offer …
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Pick up in loan growth signals better profit outlook for UAE banks
The UAE Central Bank of UAE data for February show solid credit growth with the gross credit growth expanding by 0.5 per cent month on month in February after seeing growth of the same magnitude in the previous month. This is a significant improvement …
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HSBC gears for new retail banking push in the UAE
Dubai: Global banking giant HSBC, with a focus on the premium segment of the consumer banking business is looking to expand its retail lending, liabilities and wealth management business to a wider audience. “We are looking at the full corporate employee …
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With potential funding on the horizon, Careem talks diversification and profitability
Dubai: When it comes to the possibility of a Careem IPO, Bassel Al Nahlaoui isn’t saying. “I cannot confirm or deny it,” Al Nahlaoui said straightforwardly. Careem’s managing director for the Gulf region was speaking exclusively to Gulf News the …
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Investor trust depends on fees disclosures, performance
Dubai: Trust from investors emanates from the disclosure of fees, a survey has revealed. The credibility in the fund management industry especially for the hedge funds took a hit after the global financial crisis as investors fretted about ever-escalating …
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Dubai, Russian, US interest in AC Milan – reports
Milan – Dubai businessman Saeed Al-Falasi is reported to be interested … AC Milan are working to refinance more than €300 million in high-interest loans from US hedge fund Elliott Management. If the club is not able to refinance by next October the …
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Dubai’s Abraaj said to be cutting 15% of workforce
No partners will be fired, they said. The company employs about 350 people. “It is always difficult to separate talented people from the firm,” the Dubai-based buyout firm said in a statement. “The personnel changes we are making as part of this re …
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Dubai businessman expresses interest in AC Milan
Dubai businessman Saeed Al-Falasi is reported to be interested … AC Milan are working to refinance more than 300 million euros in high-interest loans from US hedge fund Elliott Management. If the club is not able to refinance by next October the US …
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Dubai businessman linked to possible AC Milan bid
A Dubai businessman has been linked with a possible bid to buy … The Chinese businessman bought the club last April, but a loan from US hedge fund Elliot Management was required to get the deal over the line, the paper said, adding that if that money …
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Dubai, Russian and US interest in AC Milan, says reports
MILAN: Dubai businessman Saeed Al-Falasi is reported to be interested … AC Milan are working to refinance more than 300 million euros in high-interest loans from US hedge fund Elliott Management. If the club is not able to refinance by next October …
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Dubai businessman, others to buy AC Milan
Dubai businessman Saeed Al-Falasi is reported to be interested … AC Milan are working to refinance more than 300 million euros in high-interest loans from US hedge fund Elliott Management. If the club is not able to refinance by next October the US …
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