Wednesday 21 February 2018

UAE, India sign pact for trade in dirham and rupee

The UAE and India have reached a historic agreement which will enable businesses on both sides to bypass the US dollar or any other foreign currency and trade directly in UAE dirhams and the Indian rupee. The agreement will mean large savings for business communities on both side


FAB revises world growth forecast to 4pc for 2018

First Abu Dhabi Bank (FAB), the UAE’s largest bank, is expecting world growth forecasts to be revised upwards, to 4.0 per cent for 2018, led initially by the developed nations, the bank said in its Global Investment Outlook 2018. Titled ‘Going from Strength to Strengt


Emirates NBD ranked UAE’s top banking brand

Emirates NBD, a leading bank in the region, has been ranked as the UAE’s most valuable banking brand with a $3.534 billion brand valuation in The Banker’s annual brand valuation league table. The Bank also secured a spot among the top 100 global banking brands, coming


Saudi real estate group set for $1bn debut sukuk issue

Salman Abdullah Bin Saedan Real Estate Group (Saedan), a leading developer in Saudi Arabia, is gearing up for its debut issuance of Islamic bonds, the first tranche of a $1-billion sukuk, said Bahrain-based Ibdar Bank which is arranging the sale. Ibdar said it will be setting up


Top speakers to attend FinTech forum in Bahrain

A dynamic panel of influential speakers will address some of the most pressing challenges in the fast-evolving FinTech landscape, at the 2nd Middle East & Africa FinTech Forum, to be held in Bahrain, next month. Bank ABC and Arab Financial Services (AFS) are the main sponsors


Bahrain non-oil sector beats expectations with 4.8pc growth

The growth momentum of the Bahraini economy has continued to exceed expectations, with the annual pace of growth in the non-oil sector reaching 4.8 per cent in the first nine months of 2017, said the Bahrain Economic Development Board (EDB).  During 2017 as a whole, non-oil


Berkshire Hathaway Insurance opens office in Dubai

US-based Berkshire Hathaway Specialty Insurance Company has opened its new office in the Dubai International Financial Centre (DIFC) and also made senior appointments to boost its Middle East operations. BHSI said following the granting of the insurance licence by the Dubai Finan

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