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Capital, reserves of UAE banks hit $90bn in Q2The aggregate capital and reserves of banks operating in the UAE increased by 4.4 per cent, reaching Dh330.2 billion ($90 billion) by the end of Q2 2018 compared to a 1.5 per cent increase at the end of the same period of 2017, a media report sa More… |
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UAE Central Bank gold reserves rise to $326.7mThe value of the UAE Central Bank’s reserves of gold bars rose to around Dh1.2 billion ($326.71 million) at the end of January, an increase of Dh48 million, or 4.1 percent, compared to Dh1.152 billion in December 2017. More… |
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GCC currency pegs remain resilient despite low oilCurrency pegs across the GCC remain resilient despite the drop in oil prices, said an industry expert, noting that while the region’s reserves will allow countries to withstand pressures on the peg, diversification and reforms are crucial. More… |
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UAE Central Bank reserves surge to $34 billion in H1The banking sector increased its statutory reserves at the UAE Central Bank by Dh8.6 billion ($2.34 billion) during H1, 2017, bringing to Dh125.5 billion ($34.16 billion) the total required reserves by the end of June, according to CB statistics More… |
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Saudi PIF gets $26.66bn for investmentSaudi Arabia's King Salman bin Abdulaziz Al Saud has issued a directive allocating SR100 billion ($26.66 billion) from the kingdom's reserves to the Public Investments Fund (PIF), in a move to diversify the investment portfolio and More… |
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World oil reserves stable despite drop in investment: BPThe world's oil reserves were unchanged in 2015 despite a sharp drop in investment and exploration after the collapse in crude prices, BP said in its benchmark industry report. Proven oil and gas reserves t More… |
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Arabtec to use $272m reserves to wipe out lossesA meeting of shareholders in Dubai-listed construction firm Arabtec Holding approved on Wednesday a plan to use Dh1 billion ($272 million) of the company's statutory reserves to wipe out some of its accumulated losses. They al More… |
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China FX reserves in record fallChina's foreign exchange reserves posted their biggest monthly fall on record in August, reflecting Beijing's attempts to halt a slide in the yuan and stabilise financial markets following its surprise move to devalue the currency last m More… |
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Saudi June foreign reserves falls 1.2pcThe net foreign reserves at Saudi Arabia's central bank fell to SR2.492 trillion ($664.5 billion) in June, down 1.2 per cent from May to their lowest level since March 2013, central bank data showed on Thursday. More… |
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Oil majors fail to find reserves to counter falling outputBig oil companies had a poor record of finding and producing oil and gas last year, according to figures out in the past week - and big cuts in spending in response to falling crude prices could undermine their plans to turn that around. More… |
