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UAE Central Bank gold holdings top $307 millionThe UAE Central Bank's reserve of gold bars amounted to Dh1.129 billion ($307.3 million) by the end of October 2017, a growth of 11.2 per cent from Dh1.015 billion by the end of 2016. The month of April 2017 saw the Central Ba More… |
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Blockchain ‘can transform UAE’s financial sector’Blockchain technologies have the potential to revolutionize the rapidly growing financial services sector in the UAE and broader GCC region, according to a new report from global consulting and technology firm Booz Allen Hamilton. More… |
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GCC money markets slowing down: reportGCC money markets are slowing down, with softening of foreign exchange, credit default swap, corporate bond and equity market pricing resulting from continued macro-economic uncertainty, a report said. Saudi Arabia, Oman and Bahra More… |
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Sisi warns of harsh and tough measures to fix economyEgyptian President Abdel Fattah al-Sisi warned citizens on Monday that tough measures would be needed to turn the country's ailing economy around as the government negotiates a $12 billion loan programme with the International Monetary Fund. More… |
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Ooredoo Q1 profit jumps 75pc to $244mQatari telecom operator Ooredoo reported a 75 per cent rise in first-quarter net profit on Wednesday driven by foreign exchange gains from Indonesia and Myanmar. The earnings of the former monopoly, which operates in about a dozen More… |
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Egypt pumps $22 billion to clear goods piled at portsEgypt's Central Bank Governor Tarek Amer said that devaluing the Egyptian pound had attracted foreign investment worth $500 million in treasury bills and that he had pumped $22 billion into the banking system to clear goods piled at ports. More… |
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Egypt pumps $22 billion to clear goods piled at portsEgypt's Central Bank Governor Tarek Amer said that devaluing the Egyptian pound had attracted foreign investment worth $500 million in treasury bills and that he had pumped $22 billion into the banking system to clear goods piled at ports. More… |
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Egypt lifts forex transaction caps for companiesEgypt's central bank has removed caps on foreign exchange deposits and withdrawals for companies, the state-owned Al Ahram newspaper reported on Wednesday, a day after lifting withdrawal restrictions for individuals. It gave n More… |
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Egypt lifts FX transaction caps for individualsEgypt's central bank removed caps on Tuesday on how much individuals can withdraw or deposit in foreign currencies at banks, a move aimed at boosting liquidity in a market that has been starved of dollars. Egypt, which relies More… |
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Suez Cement ‘profit transfers hit by FX crisis’Suez Cement, which is 55 per cent owned by Italian firm Italicementi, is struggling to transfer shareholder profits out of Egypt because of a foreign currency crisis, the Egyptian firm said on Monday. Egypt has been struggling to More… |
