Sunday 21 December 2014

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


Bangladesh to host Arab-Asia summit

The next edition of Arab-Asia Business Partnership Summit will be hosted by Bangladesh under the patronage of Prime Minister Shaikh Hasina. The summit will be held in association with the Partners in Population and Development (PPD), a UN affiliated intergovernmental agency consi


Insurance issues to be probed at Bahrain forum

More than 550 top level executives, industry thought leaders and key regulators are set to gather for the 11th annual edition of the Middle East Insurance Forum (MEIF) in Bahrain next year. Scheduled to be held on February 3 and 4 under the patronage of the Central Bank of Bahrai


‘Quality key to FDI data in GCC countries’

GCC countries need to improve the quality of foreign direct investment (FDI) data they release, a top official of the United Nations Conference on Trade and Development (UNCTAD) has said. UNCTAD Division on Investment and Enterprise's investment trends section chief Masataka


Agile FT, Oracle to showcase fund management technologies

Agile Financial Technologies (Agile FT), a leading software product company servicing the banking, financial services and insurance sectors, is holding exclusive conference on death and fund management technology, in association with Oracle this week. It will be addressing the in


Exchange firms in UAE set up new group

Exchange companies in the UAE have come together to form the Foreign Exchange and Remittance Group (Ferg). The main objective of the move is to work for the betterment of the exchange industry and create a conducive environment for their business growth and facilitate a healthy c


UAE Exchange owner gets $800m loan to buy Travelex

A loan of up to $800 million to help Abu Dhabi-based entrepreneur B R Shetty acquire a majority stake in foreign exchange operator Travelex has been completed, two sources aware of the matter said on Monday. The facility, arranged by Goldman Sachs and Qatar National Bank, will la

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