Saturday 18 April 2015
 
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Foreign Exchange

Mena’s first RMB clearing centre launched in Qatar

The first clearing centre in the region to offer RMB clearing and settlement and increase financial connectivity between China, Southwest Asia and the Mena region was inaugurated today (April 14) in Doha, Qatar. The centre, the fi

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Egyptian pound steady on official, black markets

Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Monday, and the currency remained steady on the black market. The central bank has kept the official exchange rate steady

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Investors warned over re-pricing risk in Q2

The current cycle of “extend and pretend” is coming to an end as the planned economy model of the past eight years comes to breaking point, an investment specialist has warned investors. The second-quarter (Q2) outlook

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Global remittance hits $582bn in 2014

The global remittance industry saw approximately $582 billion transferred in 2014, representing a five per cent growth from the previous year, said a top official. Osama Al Rahma, chairman of Foreign Exchange and Remittance Group

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UAE Exchange fortifies datacenter with Red Hat

UAE Exchange, a leading foreign exchange and money transfer brand, has strengthened its datacenters by consolidating its IT infrastructure on Red Hat Enterprise Linux. The centralised solution has enabled the Exchange to more rapi

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UAE Exchange fortifies datacenter with Red Hat

UAE Exchange, a leading foreign exchange and money transfer brand, has strengthened its datacenters by consolidating its IT infrastructure on Red Hat Enterprise Linux. The centralised solution has enabled the Exchange to more rapi

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Turkey cbank hikes forex reserve requirements

Turkey's central bank raised foreign exchange reserve requirement ratios on Saturday, citing the need to support financial stability amid volatility in global markets. With the lira currency trading at record lows against the

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Mideast 'new frontier for $5.3trn forex market'

Middle East will be the next frontier of $5.3 trillion daily global Foreign exchange (forex) market which has been growing in double digits year over year since 2004, said an industry expert. ‘By definition, forex is where t

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Global banks fined $3.4 billion in forex probe

Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup, on Wednesday for failing to stop their traders from trying to manipulate foreign exchange markets. Royal Bank of Sc

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UAE Exchange enables Task Spotting payments

UAE Exchange, a leading remittance and foreign exchange brand, has partnered with Task Spotting, an innovative mobile app technology platform, to offer the latter’s network of users the convenience of collecting their earnings.

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