Saturday 25 April 2015

Equities hit record highs, dollar slips on gloomy data

Equity markets worldwide climbed to record highs on Friday as solid corporate earnings and an all-time peak for the Nasdaq stock index stoked investor optimism, while the dollar eased on gloomy US economic data., Microsoft Corp and Google led Wall Street higher, pushin


UAE Exchange in deal with Bank of Baroda for FLASHremit

UAE Exchange, a leading global remittance, foreign exchange and payment solutions brand, has joined hands with Bank of Baroda, an Indian public sector bank, to offer FLASHremit, an instant bank transfer facility. The customers will now be able to send money to their desired bank


Abraaj in deal to promote private sector development

The Inter-American Development Bank (IDB) and the Inter-American Investment Corporation (IIC), a member of the IDB Group, have established a private-sector focused partnership with The Abraaj Group, a leading private equity investing firm operating in growth markets. As agreed in


Côte d’Ivoire, IDB unit to set up $490m sukuk

Côte d’Ivoire and Islamic Corporation for the Development of the Private Sector, the private sector arm of the Islamic Development Bank Group (IDB) have signed a deal to set up a sukuk programme for 300 billion francs ($490.8 million). The programme, signed by Ministe


DMCC initiative to host diamond financing seminars

The Dubai Diamond Exchange, a DMCC initiative, is planning to hold three seminars on diamond financing this year, underscoring the growing importance of the issue for the global diamond industry. Finance and liquidity was one of the most hotly debated issues at the recently concl


Barclays names chairman for EMEA banking operations

Leading financial service provider Barclays has promoted Makram Azar to chairman of banking for Europe, Middle East, and Africa (EMEA). In his expanded role, Makram will focus his efforts on strengthening senior client relations and collaborating with the senior management team i


Deutsche Bank fined record $2.5bn over rate rigging

Deutsche Bank agreed with US and British authorities to pay a record $2.5 billion to resolve investigations it manipulated benchmark interest rates used to price loans and contracts around the world. As part of the deal, Deutsche Bank's London-based subsidiary pleaded guilty


Bahrain firms upbeat over business outlook

Bahrain's entrepreneurial firms are optimistic over their business outlook, with revenue and the number of full-time employees expected to increase in the forthcoming months. This was revealed in the Entrepreneurs' Organisation's (EO) Global Entrepreneur Indicator res


Financing ‘still a top challenge for UAE SMEs’

Financing is still a top challenge facing entrepreneurs, according to 45 per cent of the 152 small and medium enterprises surveyed recently, out of which 21 of them said acquiring funds is proving to be very difficult for small business owners in the UAE. The new MEED survey of S


Saxo Bank strengthens capital base with $46m issue

Saxo Bank, a leading online trading and investment specialist, has strengthened its capital base by issuing Convertible Tier 2 Notes in exchange for €46.25 million ($49.6 million) and by issuing new equity capital in the amount of €31.25 million. CarVal

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