The total number of employees working in the UAE banking sector increased by 201 to 35,838 month-on-month in March 2020.
( read original story …)
Coronavirus relief: UAE names banks that availed over 50% of stimulus package funds
The UAE Central Bank on Saturday named 17 banks who had availed more than 50 per cent of the allocated stimulus liquidity facility offered to them to extend support to their customers affected by the …
( read original story …)
UAE Central Bank says lenders draw down 77% of Dh50bn facility against Covid-19 impact
Banks and financial institutions have drawn down more than three quarters of the Dh50 billion worth of interest-free loans provided by the Central Bank of the UAE to relieve businesses and individuals …
( read original story …)
Over 4,300 needy families in UAE receive up to Dh5,000 each, thanks to bank’s donation
More than 4,300 families have received financial support from a charity association in Ras Al Khaimah, thanks to the Dh12.8-million donation of Dubai Islamic Bank. Each family received about Dh1,500 …
( read original story …)
BRIEF-UAE central bank says 77% of 50 bln-dirham facility against coronavirus impact drawn down
UAE CENTRAL BANK SAYS 77% OF 50 BILLION DIRHAM LIQUIDITY FACILITY AGAINST CORONAVIRUS IMPACT HAS BEEN DRAWN DOWN – STATEMENT * CENTRAL BANK URGES BANKS TO DRA …
( read original story …)
COVID-19 response: Top UAE banks availed 100% of their share in TESS liquidity facility
Dubai: The Central Bank of the UAE (CBUAE) said on Saturday that, To incentivise banks and finance companies to draw-down more from the TESS liquidity zero cost funding facility designated to be used …
( read original story …)
UAE- Arab Bank’s Q1 net profit plunges 36%
Arab Bank Group reported net income after tax for the first-quarter of 2020 of $147.6 million as compared to $231.8 million for the prior period, recording a decrease of 36 per cent. Total loans …
( read original story …)
BRIEF-UAE Launches Initiative for Unified Legislative Framework For Islamic Finance- Dubai Media Office
UAE LAUNCHES A NEW INITIATIVE TO CREATE A UNIFIED GLOBAL LEGAL AND LEGISLATIVE FRAMEWORK FOR THE ISLAMIC FINANCE SECTOR * INITIATIVE LAUNCH …
( read original story …)
UAE fights coronavirus: ’10 million meals’ drive concludes with over 15 million meals within a month
The UAE’s biggest food distribution drive draws massive donations to support Covid-19-hit communities in Ramadan.
( read original story …)
Oil slump puts pressure on Gulf states’ currency pegs
The slump in oil prices this year has prompted some investors to rekindle bets against Gulf nations’ currencies, putting longstanding pegs to the dollar under pressure. Bahrain, Kuwait, Oman, Qatar, …
( read original story …)
Nirav Modi’s threats to ‘dummy directors’ out in UK court
Speaking in a mix of Hindi and Gujarati, they are heard saying that they are making the recording as they fear for their safety and just want to go back to India but are being held against their will …
( read original story …)
Dubai Customs extends 20% refund on import fees as part of Covid-19 stimulus package
director general of Dubai Customs. “All divisions including customs development division, finance, HR division and client division all worked together to implement the stimulus package items in record …
( read original story …)
Talking The Tanker Trade (Podcast Transcript)
We unite The Investing Edge forces as Akram’s Razor and J Mintzmyer go into the background and present tense for the tanker trade. We explore why there’s a nagg …
( read original story …)
U.S. Crude Dips After Early Rise Despite Saudis’ Helpful Nudge
Oil prices settled down for a second-straight day, unable to hold onto Thursday’s early run-up inspired by a hike in the official selling price of Saudi crude. While that may be typical, it’s a worry …
( read original story …)
UAE supported over 17 million worldwide with Dh262m humanitarian aid, relief in 2019
Sheikh Hamdan stresses how the MBRGI is lending a helping hand to anyone in need in the world through numerous projects.
( read original story …)
Iran risks political backlash by riding stock market rally
Iran is taking advantage of a stock market boom to boost state revenues by selling stakes in state companies, but risks political repercussions if those buying shares get burned.
( read original story …)
Coronavirus impact: Q1 profits of UAE banks hit by increased provisioning
The UAE’s top four banks’ first-quarter fell by nearly one-third due to higher provisions. The net profit of four largest banks – First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank and …
( read original story …)