Saturday 31 January 2015
 
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Currency

Dollar on track for best annual gain in nine years

The dollar was on track Thursday to end 2014 with a gain of 12 per cent against a basket of major currencies, and anticipated US interest rake hikes may strengthen its appeal in the new year. This year's gain will be the dolla

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DGCX launches 3 new emerging market currency futures

Dubai Gold and Commodities Exchange (DGCX) has launched three new currency contracts, expanding its suite of emerging market (EM) products. It includes the Russian Ruble Futures, Korean Won Futures and South Africa Rand Futures, s

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Boao Forum focus on currency, infrastructure

Currency and infrastructure were the two main topics that panellists and attendees chewed over during the Boao Forum, held recently in Dubai, UAE. Solving the issues around these central tenets was deemed imperative to both succes

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Qatar to become first Mideast clearing hub for China's yuan

Qatar will become the Middle East's first hub for clearing transactions in the Chinese yuan, in a step that could over the long run help Gulf oil exporting countries reduce their dependence on the US dollar. Industrial and Com

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China signs $6bn currency swap with Qatar

China's central bank has signed a 35 billion yuan ($5.7 billion) currency swap deal with its Qatari counterpart, in a step towards expanding use of the Chinese yuan in a region long dominated by the US dollar. The deal is expe

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New UAE rules aim to develop local bond, sukuk markets

New rules issued by the UAE's securities market regulator aim to develop local currency bond and sukuk markets in the Arab world's second biggest economy. In meetings with potential issuers and financial firms in Abu Dhabi

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Sama issues new currency worth $266m

The Saudi Arabian Monetary Agency (Sama) has issued new Saudi riyal currencies worth SR1 billion ($266.6 million) to meet growing demand during Eid Al-Fitr, said a report.  

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Suez Canal revenue up 9.7pc in June

Revenue from Egypt's Suez Canal was $443.9 million in June compared with $404.6 million in the same month a year ago, the State Information Portal said on Monday. May revenues stood at $471.1 million. The waterw

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DGCX crosses 5m contracts in H1

Dubai Gold and Commodities Exchange (DGCX) has registered more than 5.75 million contracts in the first half of the year, with a value of more than $172 billion.   The currency futures traded 5.34 million contrac

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Libyan currency under pressure

Libya's currency is under heavy pressure as a breakdown in security and a collapse of oil revenues due to port blockades have badly disrupted public finances and an economy already burdened by exploding state salary and subsidy bills.

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