Saturday 20 December 2014

UAE’s non-oil sector records marked business improvement

The UAE’s non-oil private sector economy has continued to record a marked improvement in business conditions mid-way through the final quarter of the year, according to SABB/HSBC survey data. The SABB/HSBC Emerging Markets Index (EMI), a monthly indicator derived from the P


Africa eyeing major Islamic finance push

Africa is not only ready for Islamic finance but also is aiming to take its stand in the global Islamic finance arena, a senior official of Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI) has said. According to CIBAFI secretary-general Abdelila


AXA Gulf launches online service in Bahrain

AXA Gulf, a leading international non-life insurer, has launched its online health insurance plans in Bahrain. Through the new online health insurance solution, AXA said it provides a wide range of products for individuals and families, reported the Gulf Daily News (GDN),


Oman Air, StanChart sign landmark financing deal

Oman Air, the national carrier of Sultanate, and Standard Chartered, have signed a sale and operating leaseback transaction for three B737-800 aircraft, through its Aviation Finance team - Pembroke. The first two aircraft were delivered in November and December this year, with th


NBAD Sukuk Income Fund delievers 2.33pc dividends

The National Bank of Abu Dhabi’s (NBAD) Sukuk Income Fund has earned a total income of $798,923, which is equivalent to 2.33 per cent of the net asset value (NAV), which includes the intended dividend pay-out of $0.12 per unit.   The eligible investors who are units ho


WU launches financial literacy programme in UAE

The Western Union Company, a leading money transfer company, has launched ‘Apna Sapna,’ a  financial literacy programme for migrant workers in the UAE to help them develop the awareness and skills to  manage their finances and plan for the future. ‘Apn


Gulf markets tumble as oil slides below $60

Gulf stock markets plunged in early trade on Tuesday after oil resumed its slide on bearish comments about Opec and weak Chinese manufacturing data. Brent crude prices fell below $60 a barrel for the first time since July 2009 as Chinese factory activity slowed and stumbling emer


UAE ‘can keep spending despite plunge in oil prices’

The large fiscal reserves which the United Arab Emirates has built up will allow it to keep spending on development projects in coming years despite the recent plunge in oil prices, the economy minister said. Although some people are worrying about oil prices, the UAE is expected


Dubai economy ‘coping well with global difficulties’

Dubai's economy is coping well with a difficult global environment and is expected to grow about 4.5 per cent this year, with growth rising above that level in coming years, a senior official of the emirate said on Tuesday. Sheikh Ahmed bin Saeed Al-Maktoum, chairman of Dubai


WB urges Egypt to make reforms before investor conference

A senior World Bank official has called on Egypt to implement promised legal and bureaucratic reforms ahead of an international conference in March where the government hopes to attract more than $12 billion in investments. The government has said for months it would amend invest

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