Meanwhile, 24k gold is priced at Dh164 and 22k can be bought at Dh154 in Dubai. Spot gold edged up 0.1 percent to … in the making that continue to make gold the go-to place to hedge risk.” Against a basket of six other major currencies, the dollar …
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Technology disruptions, regulatory changes to challenge UAE banks in 2018
Dubai: The UAE’s banking sector which reported resilient performance last year is expected to face challenges from rapid technology innovations, new regulations, the impact of value added taxes and the need for strong corporate governance frameworks …
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UAE businesses need to keep close watch on Fed moves
It is likely to raise rates further to tighten monetary policy and the UAE Central Bank will have to follow suit because of the dirham’s peg to the dollar. The UAE interest rates on corporate loans are at a margin over 3-month Emirates Interbank offer …
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Dubai’s biggest bank approves $600m cash dividend payout
Dubai’s biggest bank, Emirates NBD, has approved a cash dividend for shareholders of 40 percent amounting to more than AED2.2 billion ($600 million) for 2017. At the bank’s general assembly meeting, Emirates NBD chairman, Sheikh Ahmed Bin Saeed Al Maktoum …
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Rising interest rates to support UAE bank profitability
Dubai: Increase in interest rates, combined with improving local economic growth, is expected to support the profitability of local banks through improved loan yields, bankers and analysts have said. Last week, the Central Bank of the UAE raised interest …
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Dubai finance firm hires ex-Emirates NBD CEO to lead Brexit charge
Lumina, the Dubai-based specialist corporate finance firm … is best known in the Middle East financial world as Group CEO of Emirates NBD. Pudner led the bank through the completion of one the region’s largest mergers. George Traub, managing partner …
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Less than a third of UAE investors trust their financial advisers, CFA survey shows
While over half of UAE investors use a financial adviser, less than a third consider them trustworthy, according to a new study from the CFA Institute on trust in the country’s financial services sector. Fifty-four per cent of UAE investors polled by the …
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Don’t write off paper bank statements in the UAE just yet
Electronic bank statements have their virtues – from saving trees to keeping your desk uncluttered – but they can also be easy to forget. While UAE customers can still have their statements delivered by post, they will now find themselves in the minority.
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UAE Banks Federation’s Board of Directors Approves Key Initiatives and Priorities for 2018
Presided over by HE Abdul Aziz Al Ghurair, Chairman of the UAE Banks Federation, the meeting discussed the latest developments in the banking sector and evaluated the progress of UBF initiatives that aim to further protect customers and banks against cyber …
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Dubai bank pursues 2 UAE fugitives
The pair allegedly fled their country, United Arab Emirates (UAE) after borrowing the money from Doha Bank, Dubai. The bank issued the summons against the pair early this month and the respondents have entered their appearance to defend the case in Harare.
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Dubai’s Abraaj said to mull sale of fund unit stake
Meanwhile, the markets regulator for the Dubai financial center where Abraaj is licensed is holding discussions with the firm about some investors’ concern that capital in a healthcare fund wasn’t allocated properly, though no formal investigation is …
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Dubai Islamic Bank’s ‘MyHome’ Is Set to Change UAE Home Finance Market
Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank, has launched a new home finance product that is set to change the face of home finance in the UAE. DIB’s MyHome is a ‘one stop shop’ to meet a customer’s entire home finance related needs.
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Builder of Kuwait’s $4.6bn airport revives IPO
The airport will be one of the largest in the world and compares with Dubai’s Al Maktoum International, which will be able to handle more than 220 million travelers when it is done. No advisers have been chosen for the IPO yet, Özdemir said. Half of …
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UAE Takes Lead in Digital Banking in the Middle East
As digitisation of banking and financial services sector gathers momentum across the world, in the Middle East and North Africa (Mena) region, the UAE banks have taken the lead in adopting digital solutions according to a recent study by Al Masah Capital.
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The Builder of One of the World’s Largest Airports Revives IPO
The airport will be one of the largest in the world and compares with Dubai’s Al Maktoum International, which will be able to handle more than 220 million travelers when it is done. No advisers have been chosen for the IPO yet, A-zdemir said. Half of …
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UAE takes pole position in digital banking in the Middle East
Dubai: As digitisation of banking and financial services sector gathers momentum across the world, in the Middle East and North Africa (Mena) region, the UAE banks have taken the lead in adopting digital solutions according to a recent study by Al Masah …
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UAE bank to open branches in Saudi Arabia
LONDON: First Abu Dhabi Bank (FAB), the UAE’s largest lender, is poised to establish a commercial banking business in the Kingdom after being granted a license by the Saudi Arabia Monetary Authority (SAMA). FAB will be able to open up to three branches …
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