Entry salaries for professionals in finance and accounting, financial services, technology and administration sectors are expected to rise an average 2.5 per cent over the next year, according to the Robert Half 2017 Salary Guide, which benchmarks wages …
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Why finance is key to securing a low-carbon future
As renewable energy costs fall, the UAE government is taking note. Policy is pivoting. Investment flowing. The agenda set. At HSBC, we look forward to actively participating in the UN-convened Global Roundtable on sustainable finance hosted by the UAE this …
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Low oil price takes its toll on Saudi banks
Dubai: Persistent decline in oil prices since mid-2014 is posing a new wave of challenges for Saudi Arabia’s banking sector which enjoyed, abundant liquidity during the years of oil boom between 2003 and 2013. During this period, the Kingdom was able to …
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UAE participates in Global Investors Summit in India
During his speech at the opening session, HE Al Saleh emphasised the strong bilateral ties between UAE and India, the latter being UAE’s first trade partner. He noted that the volume of trade between the two countries has amounted to $50 billion for the …
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UAE Central Bank says lending to SMES has tightened
UAE banks have become less willing to lend to businesses and individuals, according to the latest quarterly credit sentiment report issued by the Central Bank. At the same time, borrowers, especially owners of small businesses and expats, have become …
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Post-dated rent cheque encashed two months early due to ‘bank error’
Dubai: A Dubai resident got the shock of her life when her post-dated cheque worth Dh30,000 for her three-month rent was mistakenly encashed two months in advance. The Filipina, who requested anonymity, said her troubles began when her bank cleared her …
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Emirates NBD pilots blockchain-based money transfers
During the pilot, remittance and trade finance processes were executed on the blockchain network with almost real-time transfers of invoices and purchase orders. Emirates NBD chairman Shaikh Ahmed bin Saeed Al Maktoum said the pilot was the first of its …
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Emirates NBD and ICICI launch trade finance blockchain pilot
Emirates NBD and ICICI Bank have partnered with a subsidiary of Indian tech giant Infosys on a pilot blockchain solution for trade finance and remittances. The banks become the first in the UAE and India, respectively, to pilot blockchain-based network for …
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Head of Hedge Fund Selection – General Manager
Al Futtaim Group – Dubai – Al-Futtaim Group is one of the leading business houses in the Middle East region, employing over 40,000 people (including those in joint ventures and subsidiaries) in diverse sectors spanning more than 60 businesses …
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Dubai lender Emirates NBD Q3 net profit slips as bad debts weigh on Islamic banking unit
Emirates NBD, the UAE’s biggest bank by assets, said its third-quarter profit slipped 1 per cent as money set aside for bad debt at its Islamic banking unit increased. Net income declined marginally to Dh1.664 billion from Dh1.673bn, missing the …
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UAE's Ajman Bank finalising $205 mln Islamic syndicated loan -bankers
DUBAI Oct 18 Ajman Bank, a United Arab Emirates-based, sharia- compliant lender, is raising a $205 million Islamic syndicated loan, banking sources said on Tuesday The loan, which has a two-year maturity and a murabaha format, will be completed imminently …
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Infosys Finacle Partners With Emirates NBD and ICICI Bank to Launch First Blockchain Pilot Network
BANGALORE, Oct. 18, 2016 /CNW/ – Emirates NBD is the First in UAE and ICICI Bank is the First Bank in India to Pilot Blockchain-based Network for International Remittances and Trade Finance EdgeVerve Systems, a wholly owned product subsidiary of Infosys …
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Emirates could cut Africa flights in face of economic challenges
DUBAI (Reuters) – Emirates airline could reduce the frequency of flights to Africa or cut routes entirely if current economic and financial challenges on the continent continue, the company’s President said on Tuesday. Emirates has expanded rapidly in …
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Credit ratings can be a force of change in UAE finance
In a recent communiqué, the UAE’s Securities and Commodities Authority (SCA) reiterated its aim of introducing credit rating regulations as part of UAE’s vision of having a well-developed, investment-conducive and resilient financial system.
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Dubai lender Emirates NBD posts flat Q3 net profit
“Both Dubai and Emirates NBD are well placed to deal with the regional challenges stemming from a lower oil price environment,” said Mr Nelson. Emirates NBD is banking on more digital programmes, with an increased focus on online and mobile banking services.
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A statement by HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs on GITEX Technology Week 2016
The e-Dirham is now considered as one of the federal government’s most innovative initiatives in the financial sector. The UAE Gate for Government Finance Statistics Reports is also considered as a leading e-system to build a consolidated financial …
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Saudi set to become top tech investor with $100 billion fund
DUBAI: Saudi Arabia and Japan’s SoftBank Group will create … who joined the Japanese firm in 2014 from Fortress Investment Group, a private equity and hedge fund group. PIF will engage its own team. Saudi Arabia’s Deputy Crown Prince Mohammed bin …
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