Sunday 26 April 2015

ADCB names new head of government clients

Abu Dhabi Commercial Bank (ADCB) has appointed Saoud Mohammed Al Jassem as the new head of Government Clients Division for Dubai and the Northern Emirates (DNE). In his new role, Saoud will lead the development of the Abu Dhabi lender’s relationships with the governments of


Bahrain workshops to help young entrepreneurs

Bahrain will host workshops on franchising businesses, vocational training and farming next month, as part of a major drive to help young entrepreneurs, a report said. Organised by the Capital Governorate, The Manama Entrepreneurship and Youth Empowerment Week starts on May 7 and


Bahraini firms ‘investing big in Iraq’

Bahraini businesses are investing millions of dinars in Iraq to support its conflict-hit economy, a senior government official said. Hotels, furnished apartments and other services for pilgrims visiting religious sites in Najaf and Karbala are the main focus of this investment, B


UAE inflation surges to six-year high in March

The inflation in the UAE hit a nearly six-year high of 4.3 per cent on an annual basis in March, according to a report. The housing and utility costs, which account for over 39 per cent of consumer expenses, jumped 9.3 per cent from a year earlier in March, reported the Emirates


IDB unit to lead manage $480m Ivory Coast sukuk

The Islamic Corporation for the Development of the Private Sector (ICD), an arm of the Jeddah-based Islamic Development Bank, said it would lead manage a 300 billion CFA franc ($480 million) Islamic bond programme for Ivory Coast. The programme would issue Ivory Coast's first


HSBC looks at moving HQ away from Britain

HSBC, Europe's biggest bank, has ordered a review into whether it should move its headquarters out of Britain and potentially back to its former home in Hong Kong, threatening London's reputation as a global hub for finance and investment. The announcement from HSBC, foun


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


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

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