Sunday 20 April 2014
 
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Foreign Exchange

UAE Exchange transfers $14bn from emirates

UAE Exchange, a global leader in remittance and foreign exchange, remitted around $14 billion from the United Arab Emirates in 2013, largely to South Asia. In a statement, UAE Exchange said that growth in remittances from UAE was

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Egypt tourism revenues tumble 41pc

Egypt's tourism revenue sank by 41 percent to $5.9 billion in 2013 in comparison with a year earlier, Tourism Minister Hisham Zaazou said on Tuesday, a further sign of pressure on one of Egypt's main sources of foreign currency.

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NBK named top forex provider in Mideast

National Bank of Kuwait has been named the best foreign exchange provider in the Middle East by Global Finance (GF) magazine. GF has listed the World’s Best Foreign Exchange banks and providers by country, region and categor

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HSBC posts Q3 profit of $5.1bn

HSBC reported a 10 percent rise in third quarter profits on Monday, helped by tighter cost control and fewer losses from bad loans, and confirmed it was being investigated as part of a global probe into currency market trading manipulation.

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Ooredoo net profit slides 58pc in Q3

Net profit at Qatari telecoms company Ooredoo plunged in the third quarter mainly because of foreign exchange losses from its Indonesian affiliate Indosat, the company said yesterday. Profit fell 58 per cent to QR337 million ($92.

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UAE Exchange marks 33 years of global ops

UAE Exchange, a leading global remittance and foreign exchange brand with direct ‎operations spanning over 30 countries, has completed 33 years of operations. “Trust turns 33!” exclaimed Y Sudhir Kumar Shetty, COO

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London Business School signs key China deal

London Business School, which has presence in London, New York, Hong Kong and Dubai, has signed a landmark MoU with China’s State Administration of Foreign Exchange (SAFE) to deliver its education programmes to its employees. 

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LuLu plans 3 more hypermarkets in Bahrain

UAE-based LuLu Group will open three more hypermarkets in Bahrain and also make a foray into the kingdom’s healthcare sector, its managing director said. Yusuffali said the group had many more interesting projects in the pip

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LuLu launches remittance unit in Bahrain

UAE-based LuLu Group yesterday opened the first branch of its remittance and foreign exchange business in Bahrain, with its managing director announcing plans of three more hypermarkets and an entry into the kingdom's healthcare industry.

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Some Egypt businesses thrive in economic downturn

Egypt's smaller companies have struggled since the uprising that pushed aside Hosni Mubarak in 2011. But in a few corners of the economy, businesses are doing just fine. Against a background of unrest, access to credit and for

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