Thursday 2 October 2014
 
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Western Union launches self-service kiosks in UAE

The Western Union Company, a leading money transfer firm, has launched its automated self-service kiosks in the UAE, that will allow customers to pay bills and send money via easy-to-use touch screen terminals on a 24x7 basis. The company has expanded its network in the UAE by ac

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Credimax unveils new e-statement service

Credit card issuer and acquirer CrediMax has launched its new e-statement service for customers in Bahrain. The e-statement service, available to both individuals and corporate customers for free, ensures optimum security measures are in place through a password-protected file th

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15 convicted in $922m money-laundering racket in Bahrain

Fifteen men have been convicted of being part of a money-laundering racket that transferred up to BD350 million ($922.8 million) abroad. The group, including 11 managers and staff working for UAE Exchange, illegally sent the money to Saudi Arabia, said a report in the Gulf Da

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UAE firm to raise $374m in debut IPO

Amanat Holdings, a company set up by top local and international investors in the UAE, aims to raise as much as Dh1.375 billion ($374 million) from an initial public offer of shares on the Dubai Financial Market (DFM). A public joint stock company under formation with a proposed

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Global management withdraws resignations

Global Investment House said its executive management team, including Group chief executive Maha Al-Ghunaim, had withdrawn their resignations after resolving certain unspecified issues with the board. The Kuwait-based firm's management team comprising Group CEO Al-Ghunaim, CE

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Kuwait starting to cut subsidies, says IMF

Kuwait's government has started reducing some state subsidy payments and is in an advanced stage of preparing a plan to cut subsidies for kerosene and electricity, the International Monetary Fund said. Subsidy cuts are an important economic reform for Kuwait because lavish su

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Amanat Holdings to launch $374m IPO in Oct

UAE-based Amanat Holdings, a healthcare and education start-up, will launch a Dh1.375 billion ($374 million) share sale offering on the main Dubai bourse in October, the firm said in a statement on Tuesday. The initial public offering is set at a price of Dh1.02 ($0.27) per share

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Qatar's economic growth edges up to 5.7pc in Q2

Qatar's economic growth picked up slightly to 5.7 per cent on an annual basis in the second quarter of this year as robust non-oil activity outweighed a decline in the hydrocarbon sector, official data showed on Tuesday. Real gross domestic product growth accelerated from a d

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Emaar eyes hotel unit IPO says report

Dubai-based Emaar Properties plans to sell shares in its hotel business following its hugely successful malls unit public offering, according to a report. The company will announce the hotel sale “in the next few months,” chairman Mohamed Alabbar was quoted as saying

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Dubai City ranked eighth in billionaire census

Dubai City has been ranked eighth in the world in terms of the size of its billionaire population, with 34 billionaires, according to a recent report. The ‘Top 20 billionaire cities’ listed in the Wealth-X and UBS Billionaire Census 2014 has ranked New York as the number on

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