77% of UAE firms forecast rise in trade volumes in next year

Sunil Veetil, regional head of Global Trade and Receivables Finance for HSBC MENAT said: “Although oil prices have impacted the GCC’s economies over the last year, the UAE’s push for diversification is bearing fruit. "As we get closer to Expo 2020 ... ( read original story ...)

Banking wallets see a tough time ahead

Dubai: Among the mobile wallets ... I think while most banks are coming out with their own wallets, it is going to a tough journey for the banking wallets or bank-specific wallets to differentiate in the market and that is the reason why Apple Pay or ... ( read original story ...)

Dubai completes $2.45bn financing for metro extension project

Dubai on Wednesday announced the successful completion of the ... Banco Santander, First Abu Dhabi Bank, HSBC Middle East, Intesa Sanpaolo and Standard Chartered Bank acted as mandated lead arrangers and the facility providers for the financing. ( read original story ...)

Dubai ruler enacts new laws to boost financial hub

Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum has enacted two new laws that aim to improve and expand Dubai International Financial Centre's (DIFC) private wealth management and succession planning platforms. Both the Trust Law and Foundations Law are ... ( read original story ...)

UAE establishes financial re-structuring committee

A new financial regulatory committee will help oversee financial restructuring procedures outside of court rooms, according to a newly issued government resolution. The resolution – No. 4 of 2018 – creates a nine-member committee chaired by the ... ( read original story ...)

Dubai Investments to set up $100m Islamic bank in DIFC

Dubai Investments, a diversified company in which Investment Corporation of Dubai, the emirate's sovereign wealth fund has an 11.54 per cent stake, is leading a group of investors who will set up a $100 million Islamic bank that will list on Nasdaq Dubai. ( read original story ...)

Risk and funding costs weigh on UAE banks

according to the latest UAE Banking Pulse report from Alvarez & Marsal (A&M), a global professional services firm. Data for the last quarter of 2017 showed a rise in costs and lower loan growth, moderating profitability of top 10 UAE banks by assets. ( read original story ...)

UAE bank loans and deposits forecast to rise in 2018

Loan growth will increase in the UAE this year as the country’s macroeconomic outlook improves and infrastructure investment creates new opportunities, according to a new report from BMI Research. According to the report, deposits will also rise, as ... ( read original story ...)