Dubai: Swiss private bank Lombard Odier is in talks to set up a partnership with a Saudi bank as it aims to strengthen its presence in the Gulf, its managing director said on Wednesday. The Geneva-based bank, which had $281 billion (Dh10.3 trillion …
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222 year old Swiss Bank Lombard Odier looks to grow Islamic assets in the Gulf
Swiss Bank Lombard Odier is looking to grow its share of customers in the GCC with a range of new Shariah compliant products. It is also in talks to expand its presence in the UAE and partner with a bank in Saudi Arabia to set up shop in the country.
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Dubai credit cards hacked: What to do?
Dubai: UAE-based expatriate Claire has been without a credit card for a few days now since her bank blocked her account following a series of hacking attempts. Last Sunday, someone tried to use her Dubai-issued card at least four times online and charged …
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Saudi Aramco names new head of finance after govt reshuffle – sources
DUBAI: Saudi Aramco has named six new heads of departments including its finance unit after a government reshuffle last week saw several executives at the oil giant moving to other state posts, sources familiar with the matter said on Tuesday. Khalid Al …
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85 per cent of UAE residents believe they are not saving enough
It is as simple as that.” Al-Ali added. Over 68 per cent of those surveyed in the UAE claimed their financial stability contributes their overall happiness. The report also found measurements for overall happiness included taking out health insurance …
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Dubai ranks 3rd globally in public finance
DUBAI: Dubai ranks first in the Arab world in terms of government budget (as percentage of GDP) while globally the emirate ranks seventh in government efficiency and third in public finance, according to the ‘Competitiveness Report 2018’ issued by the …
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Hamdan increases financial support for Sudan university
Dubai: Shaikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and patron of Al Maktoum Foundation, announced that he would increase his annual financial support to $500,000 for Sudan’s International University of Africa (IUA).
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Bank ABC announces key UAE appointment
Bahrain-based Bank ABC, a leading international financial group in the region, has announced the appointment of Ammar Khalil as the senior executive officer of the bank’s branch at the Dubai International Financial Centre. In his new role, Khalil will …
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Kerala CM to launch NRI chitty in UAE next month
The Kerala government’s dream programme to raise money from its diaspora through “chitties”, or a chit fund scheme launched by state-run Kerala State Financial Enterprise (KSFE), will be inaugurated by Chief Minister Pinarayi Vijayan in UAE next …
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UAE Property Firms Post Over $1.1bn in Q1 Profit
In more detail, eight listed property companies at Dubai Financial Market posted profits of Dh3.65 billion during the first three months of the year, up 36.2 per cent from Dh2.68 billion during the same period in 2017, according to official figures issued …
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85% of UAE residents still not saving enough for their future: National Bonds
“Remember that financial literacy is not prevailing enough among the public and the UAE gives people a very good lifestyle, so many do not put money aside. To help solve this disconnect, Mr Al Ali says residents need to be more disciplined and start saving …
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UAE’s ADNOC may sell more of distribution business: sources
DUBAI/ABU DHABI (Reuters) – Abu Dhabi National Oil Company is considering selling another 10 percent stake in its fuel distribution business, which listed in an initial public offering last year, but the timing is uncertain, three sources familiar with the …
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African investors deploy funds in Dubai property
The main reason why these African funds are attracted to dollar-pegged markets such as the UAE is a hedge against domestic currency volatility. “The rise in real estate investment from Africa into Dubai is due to a number of reasons. Rental yields north of …
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Dubai’s Mashreq applies for Saudi banking licence
Mashreq, Dubai’s third-largest bank by assets, has applied to Saudi Arabia’s central bank for a banking licence as it seeks to benefit from opportunities surrounding the kingdom’s ambitious economic reform plans, according to sources familiar with …
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Dubai crypto exchange BitOasis reinstates AED deposits and withdrawals
BitOasis, the Dubai-based cryptocurrency exchange, no longer plans to block users from making deposits and withdrawals in dirhams. Back on May 14, citing problems with it bank, the exchange issues a statement saying the users had just 24 hours to sanction …
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UAE bourses forecast to rise in June
… positively in June on the back of new government decisions including the transfer of settlements for both the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) to the Central Bank of the UAE (CBUAE), according to Zawya. Trading …
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Future of banking: Evolution or revolution?
McKinsey research on urban consumers in UAE and Saudi Arabia shows that at least 80 per cent of bank consumers now prefer to do a portion of their banking on computers, smartphones, and tablets. Banks today face competition from an array of fintech …
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