Saturday 25 April 2015
 
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UAE inflation surges to six-year high in March

The inflation in the UAE hit a nearly six-year high of 4.3 per cent on an annual basis in March, according to a report. The housing and utility costs, which account for over 39 per cent of consumer expenses, jumped 9.3 per cent from a year earlier in March, reported the Emirates

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IDB unit to lead manage $480m Ivory Coast sukuk

The Islamic Corporation for the Development of the Private Sector (ICD), an arm of the Jeddah-based Islamic Development Bank, said it would lead manage a 300 billion CFA franc ($480 million) Islamic bond programme for Ivory Coast. The programme would issue Ivory Coast's first

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HSBC looks at moving HQ away from Britain

HSBC, Europe's biggest bank, has ordered a review into whether it should move its headquarters out of Britain and potentially back to its former home in Hong Kong, threatening London's reputation as a global hub for finance and investment. The announcement from HSBC, foun

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Equities hit record highs, dollar slips on gloomy data

Equity markets worldwide climbed to record highs on Friday as solid corporate earnings and an all-time peak for the Nasdaq stock index stoked investor optimism, while the dollar eased on gloomy US economic data. Amazon.com, Microsoft Corp and Google led Wall Street higher, pushin

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UAE Exchange in deal with Bank of Baroda for FLASHremit

UAE Exchange, a leading global remittance, foreign exchange and payment solutions brand, has joined hands with Bank of Baroda, an Indian public sector bank, to offer FLASHremit, an instant bank transfer facility. The customers will now be able to send money to their desired bank

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Abraaj in deal to promote private sector development

The Inter-American Development Bank (IDB) and the Inter-American Investment Corporation (IIC), a member of the IDB Group, have established a private-sector focused partnership with The Abraaj Group, a leading private equity investing firm operating in growth markets. As agreed in

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DMCC initiative to host diamond financing seminars

The Dubai Diamond Exchange, a DMCC initiative, is planning to hold three seminars on diamond financing this year, underscoring the growing importance of the issue for the global diamond industry. Finance and liquidity was one of the most hotly debated issues at the recently concl

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Barclays names chairman for EMEA banking operations

Leading financial service provider Barclays has promoted Makram Azar to chairman of banking for Europe, Middle East, and Africa (EMEA). In his expanded role, Makram will focus his efforts on strengthening senior client relations and collaborating with the senior management team i

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Deutsche Bank fined record $2.5bn over rate rigging

Deutsche Bank agreed with US and British authorities to pay a record $2.5 billion to resolve investigations it manipulated benchmark interest rates used to price loans and contracts around the world. As part of the deal, Deutsche Bank's London-based subsidiary pleaded guilty

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Bahrain firms upbeat over business outlook

Bahrain's entrepreneurial firms are optimistic over their business outlook, with revenue and the number of full-time employees expected to increase in the forthcoming months. This was revealed in the Entrepreneurs' Organisation's (EO) Global Entrepreneur Indicator res

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