Saudi Aramco has moved to strengthen its leadership team as the world’s biggest oil company faces a crucial period after its record-breaking initial public offering (IPO) last year. It announced the …
( read original story …)
Covid-19 ‘reveals the fragility of our financial system’
In over 30 years of doing this job I have never seen three simultaneous blows to the economy. I am again reminded of 2008, where small events like BNP Paribas closing their high-yield fund, Bear …
( read original story …)
Trump says oil-cut deal with Saudi, Russia to halt price rout
U.S President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an …
( read original story …)
The winners and losers of the Covid-19 stock market crash
Vijay Valecha, chief investment officer at Century Financial in Dubai, says you might find opportunities in the most surprising places … you can invest in a spread of companies listed on the S&P500 …
( read original story …)
Breakingviews – Cox: What will change after coronavirus passes?
It has enabled cities like Doha, Dubai, Istanbul and Abu Dhabi to style themselves as international hubs … If these investments perform no worse than actively managed and hedge funds, a further …
( read original story …)
Expat workers in Middle East face uncertain future after Covid-19
chief economist at Peninsula Real Estate in Dubai. “Businesses will respond differently depending on their circumstances,” said Ali Al-Salim, co-founder of Arkan Partners, a consulting company for …
( read original story …)
OPINION: What will change after coronavirus passes?
It has enabled cities like Doha, Dubai, Istanbul and Abu Dhabi to style … If these investments perform no worse than actively managed and hedge funds, a further shakeout will be on the cards …
( read original story …)
UAE to boost strategic stockpile, waive visa fines over coronavirus
DUBAI (Reuters) – The United Arab Emirates will reinforce its stockpile of strategic goods and waive residency visa fines for the rest of the year in response to the coronavirus outbreak, its vice …
( read original story …)
Hedge Fund – Alden Global Capital
With offices in New York City, Dallas, Houston, Dubai, London and Mumbai, Randall Smith’s Alden Global Capital has grown to become a surprisingly big player in the media space, particularly in …
( read original story …)
Oman’s Taageer Finance and Sohar disclose 4.67m rial exposure to NMC
Oman’s Taageer Finance and Sohar International Bank disclosed they have exposures to embattled UAE healthcare firm NMC Health. Taageer, which provides auto financing and funding for industrial …
( read original story …)
Gold prices soar, but UAE shoppers are not giving it a look
But UAE shoppers will only be giving a casual look to the prices, with jewellery retail outlets still shut as part of the wider restrictions on commercial activity to counter the COVID-19 spread. “The …
( read original story …)
COVID-19: UAE Central Bank wants banks to speed up stimulus relief
The Central Bank said in a statement that it encourages all boards and managements of banks to accelerate their confirmation to implement TESS measures. “From our side, CBUAE will …
( read original story …)
UAE central bank urges commercial lenders to use stimulus scheme
The United Arab Emirates (UAE) central bank has urged commercial lenders to use the $70 billion-worth of capital and liquidity measures launched by the regulator to support the economy during the …
( read original story …)
Combating coronavirus: UAE banks obtain Dh10b at zero interest from Central Bank
The UAE Central Bank on Monday said that Dh71 billion has been provided to local banks in the form of zero interest funding and lowered cash reserve requirements to combat with the impact of …
( read original story …)
UAE banking sector fully geared to support the economy: Al Ghurair
An Ariel view of Abu Dhabi skyline. The UAE banking sector is fully prepared to support the UAE economy form the potential adverse impact of coronavirus (COVID-19), said Abdul Aziz Al Ghurair, …
( read original story …)
UAE Central Bank urges lenders to support SMEs and individuals as it disburses Dh10bn of zero interest loans
The UAE Central Bank urged lenders to support the private sector and individual borrowers to cushion the impact of Covid-19, and disbursed Dh10 billion worth of zero interest loans to banks from the …
( read original story …)
Combating coronavirus: UAE Central Bank urges banks to support private sector corporates, SMEs, individuals
The Governor of the Central Bank of the UAE (CBUAE), Abdulhamid Saeed, held his first meeting with CEOs of banks operating in the country to emphasise the systemic significance of extending support to …
( read original story …)