DUBAI – The banking relations between the United Arab Emirates (UAE) and China will see more sustainable and growing synergy in future, a senior official of the Dubai International Financial Center (DIFC) told Xinhua in an interview on Thursday. Salmann …
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UAE court reserves judgement in Naqvi criminal case
Dubai: A Sharjah court on Thursday reserved the judgement until … three cheques signed by Arif Naqvi totalling an amount of $300 million were presented to the Bank and subsequently dishonoured due to insufficient funds. These cheques stem from an …
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BoG must use Islamic banking to promote financial inclusion – Dubai Chamber
The Head of Dubai Chamber-Ghana Office, Cyril Darkwa, is encouraging the Bank of Ghana (BoG) to see Islamic banking as a way to promote financial inclusion in the country, noting that Islamic banking is a sector that offers huge potential growth for Africa …
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Emirates NBD Bank : Disruption brings lower
… remittance markets through the bank’s online and mobile banking platforms, free of charge and at competitive rates.” Typically, the standard transfer fee on remittances from the UAE is between Dh15 to Dh70, depending on the place where the money …
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Dubai’s Union Properties says no exposure to troubled Abraaj
The Dubai-based developer said in a filing to Dubai Financial Market that it has received a number of inquiries by a group of shareholders regarding the extent of the exposure. In a statement, Union Properties said: “The board of directors would like to …
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Nirav Modi firms availed loans from PNB’s Hong Kong, Dubai branches too: Report
NEW DELHI: Nirav Modi group’s exposure was not limited to only Punjab National Bank’s (PNB) Brady House branch in Mumbai, as the firms had availed loan facility from its Hong Kong and Dubai branches too, according to an internal report of the bank …
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UAE Exchange targets 10 per cent remittance growth in 2018
Global remittances grew seven per cent to $613 billion in 2017, according to the World Bank. The US dollar comeback in recent months following a period of weakness has boosted UAE Exchange, seeing a good flow of money to India, Pakistan and the Philippines …
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News: UAE’s Mashreq Bank to hire 400 people in Bengaluru in the next 2 years
The largest private sector bank in the UAE will double its workforce from 400 people at the Mashreq Global Services in Bengaluru to 800 in the next 18 to 24 months. Mashreq Bank, the largest private sector bank in the UAE, will double its workforce from …
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Saudi stocks most expensive versus Dubai in seven years
“As far as the UAE is concerned, we do see a lot of valuation mispricing both in real estate and banking names. But weak sentiment, the lack of depth and better green shoots elsewhere could continue to drag the markets down,” Chandrasekaran said.
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UAE Attends Third Annual Meeting Of Asian Infrastructure Investment Bank Governors To Discuss Mobilising Private Capital For Infrastructure Funding
A UAE delegation attended the third annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB). Following last year’s event on Jeju Island in South Korea, the 2018 meeting ran from 25 to 26 June in Mumbai, India. In line …
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UAE attends 3rd annual meeting of Asian Infrastructure Investment Bank Governors
ABU DHABI, 26th June, 2018 (WAM) — A UAE delegation attended the third annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB). Following last year’s event on Jeju Island in South Korea, the 2018 meeting ran from 25th …
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UAE Banks Federation organises ‘TASHARUK’ workshop
Only by adopting a collaborative and systematic approach towards information sharing of cyber threat intelligence, banks can establish an effective defence to sustain a safe and secure banking ecosystem,” said Abdul Aziz Al Ghurair, Chairman of the UAE …
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Abraaj chief faces criminal charges in the UAE
Arif Naqvi, founder of the Abraaj Group, is facing criminal investigation in the UAE for issuing bad cheques. The new development is expected to jeopardise the prospects the company’s efforts to resolve its issues with investors and creditors through …
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UAE, Saudi execs predict economic growth for year ahead
This confidence is reflected in regional corporate spending plans: three quarters of the region’s finance executives (74 percent) plan to increase investment levels by six percent or more for the year ahead. The findings place the UAE and Saudi in the …
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Dubai’s Abraaj ‘surprised by media interest’ after Naqvi jail threat
Bounced cheques for amounts in excess of AED200,000 remain a criminal offence in the UAE and a conviction could mean a possible jail sentence for Naqvi. Earlier in June, Abraaj filed for provisional liquidation and is using courts in the Cayman Islands to …
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UAE Food Bank distributes 73,200 food packets during Ramadan 2018
DUBAI, 24th June, 2018 (WAM) — The UAE Food Bank distributed 73,200 food packets during the Holy Month of Ramadan this year, which included 49,700 iftar kits and 23,500 suhoor meals. The food distribution was organised in cooperation with a group of …
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Hedge Funds Alleging $1.5 Billion Fraud Fear They’ll `Bleed Dry’
This month, Dubai-based Abraaj Group, which once managed almost $14 … friends and business associates to siphon money from the fund. The hedge funds originally estimated the alleged fraud by IREO executives at about $147 million, but upped that estimate …
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