Tag Archives: Finance

UAE Economic Outlook Remains Optimistic Despite Increased Regional Supply Chain Risk

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Global supply chain risk climbed to 80.8 in Q2, a level not seen since 2013 CIPS Q2 Risk Index reports increased supply chain risk across MENA from Q1 Supply chain risk across the Middle East and North Africa climbed to 4.406 from 4.371 during the second quarter of 2016, according to the CIPS Risk Index, powered by Dun & Bradstreet. …

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Virtual currencies unlikely to crowd out fiat currencies, according to new research

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New research from the SWIFT Institute assesses whether the global financial community is accepting Bitcoin as a valid currency. Brussels – The SWIFT Institute has published a new research paper analysing whether Bitcoin will crowd out fiat currencies in the global community. The paper, entitled “Virtual currencies: Media of exchange or speculative assets?”, looks at the dynamic relationship between virtual …

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Launch of Banking App for the Apple Watch by Saudi Hollandi Bank

apple watch

SHB’s Apple Watch App will provide access to account balances, conduct bill pay transactions, and receive real-time notifications of banking activity right on customer’s wrist. Saudi Hollandi Bank, announced the launch of a banking app designed for the Apple Watch, a first in the Kingdom amongst transactional banking apps for a wearable device. The SHB Apple Watch app will enable …

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Parents in the UAE spend 140% more on university costs than global average

Finance African Brains Wikimedia

UAE parents spend the most globally on children’s higher education Over half (52%) looking to send children abroad want to invest in property in that country Nearly 9 in 10 have concerns about funding their children’s education UAE parents spend the most globally on children’s higher education Over half (52%) looking to send children abroad want to invest in property …

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KFH Wins STP Award 2016 from Citi Bank

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Award Affirms KFH’s Excellence in Utilizing Technology. Kuwait Finance House (KFH) won STP award 2016 from Citi Bank, as the best financial institution in the Middle East to deal with Citi Bank, yet the bank that has achieved the highest rates in the award-winning criteria. STP is an award for “Straight Through Processing” without manual intervention for remittances to Citi. …

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UPDATE 2-IMF agrees $12 billion 3-year funding deal with Egypt

imf

IMF loans to help budget deficit and dollar shortage Deal still to be approved by IMF executive committee Markets cautious, pending implementation By Lin Noueihed and Ahmed Aboulenein CAIRO, Aug 11 (Reuters) – The International Monetary Fund has agreed in principle to grant Egypt a $12 billion three-year loan facility, to support a government reform programme aimed at plugging a …

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Doha bank achieves strong performance ratios

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His Excellency Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani, Chairman of the Board of Directors of Doha Bank, announced Doha Bank’s financial results for the first half of 2016. Net profit for the first half of 2016 recorded QAR 708 million despite the sharp decline in the oil prices in the Gulf area and the challenges that face the financial …

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Digital Payments to Generate USD 2 Trillion in Revenue by 2020

gitex

Half of EMEA Banks to Hire a Chief Digital Officer in Next Four Years: IDC; FinTech Experts James Barrese and Andres Wolberg-Stok to Highlight Non-Traditional Banking at GITEX Technology Week 2016 Dubai, United Arab Emirates – GITEX Technology Week 2016 will welcome an exceptional line up of finance and technology experts, including James Barrese, formally CTO of PayPal, and Andres …

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FGB and NBAD boards recommend merger to create the largest bank in the Middle East and North Africa region

Finance African Brains Wikimedia

Creates the largest bank in the MENA region by assets1 with total assets of AED642 billion (US$175 billion)2 Leading position in the UAE both in terms of loan and deposit market shares Presence in 19 countries Complementary businesses to leverage on strengths in consumer and wholesale banking Content on the proposed merger: www.bankfortheUAE.com Creates the largest bank in the MENA …

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EAB Appoints New Head of Private Banking

Finance African Brains Wikimedia

Fadi Halout has joined Europe Arab Bank (part of the Arab Bank Group) as Head of Private Banking and a member of the Bank’s Executive Committee. Europe Arab Bank has Private Banking centres in London, where the Bank has its Head Office, plus Paris and Cannes, providing a range of personal banking services to high net worth clients from the …

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