Sunday 21 December 2014
 
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Central Bank

UAE to activate China currency swap soon

The central banks of the United Arab Emirates and China aim to activate their 35 billion yuan ($5.7 billion) currency swap agreement soon, a senior UAE central bank official said on Tuesday. The agreement, designed to facilitate t

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US central bank backs Bahrain’s green drive

A delegation from Washington’s Central Bank recently visited Bahrain’s Ministry of Works (MoW) to discuss the use of green buildings system and renewable energy applications. The delegation was headed by Mena energy ex

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UAE cbank denies move to change dollar peg

The fixed peg of UAE dirham against the US dollar will remain in place, the UAE Central Bank Governor Mubarak Rashid Khamis Al Mansouri has reiterated. Reacting to media reports regarding a study on the dirham’s peg to the U

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Bahrain cbank in bid to boost insurance sector

Central Bank of Bahrain Governor Rasheed Al Maraj has pledged to further develop the kingdom's vibrant insurance sector, a report said. He said this during a meeting of top executives from the sector, chaired by Bahrain Insura

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Egypt pays back $2.5 billion deposit to Qatar

Egypt has paid back $2.5 billion that Qatar deposited with it to help prop up the Egyptian central bank's hard currency reserves, a central bank official said on Friday night, as the Qatari foreign minister arrived in Cairo for Arab League t

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Egypt cbank to act to control currency black market

Egypt's central bank will take measures to calm the black market in the Egyptian pound, its governor said on Wednesday, after volatility this week due to a surge in commercial demand for dollars. Hisham Ramez gave no details o

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2014: the year of deflation and lower returns

While the year 2014 began with expectations of higher growth, higher yields and higher stocks, it is ending with the reality of lower inflation, lower yields and higher stocks, a report said. It also ends with asset markets and th

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Kuwait central bank aims to cut bad loans to 2pc

Kuwait's central bank aims to cut the bad loan ratio among Kuwaiti commercial banks to below 3 per cent of total loans by the end of this year from 3.2 per cent at present, central bank governor Mohammad al-Hashel said. Hashel

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Lebanon plans $1 billion economic stimulus for 2015

Lebanon is planning a $1 billion economic stimulus package for 2015 to maintain growth and support an economy which has been hit by a three-year conflict in neighbouring Syria, the central bank governor said. Riad Salameh said he

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UAE appoints new cbank governor

The United Arab Emirates' president has appointed Mubarak Rashid Al Mansouri as the new central bank governor for a four-year term, the state news agency Wam said, citing a presidential decree. Al Mansouri, the chief executive

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