Sunday 25 September 2016
 
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DGCX’s INR Quanto Futures wins innovation award

Indian Rupee Quanto futures contract of the Dubai Gold and Commodities Exchange (DGCX) has been recognised as the Most Innovative New Contract in the Currency category at this year’s Futures and Options World (FOW) Awards Asia, the derivatives industry’s leading awards.

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Compareit4me secures $2.4m investment

Compareit4me.com, a leading financial comparison website in the Middle East, has received a total of $2.4 million in investment through its latest round of bridge funding. The sum more than doubled the $1 million that the company set out to achieve, taking the total amount that i

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Man ‘conned investors into paying $235,000’

An alleged conman has been accused of duping more than 30 Bahrain-based investors out of almost BD90,000 ($235,000), reported the Gulf Daily News, our sister publication To read further, please visit

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Goldman Sachs ‘cutting 30pc of Asia jobs’

Goldman Sachs is cutting almost 30 percent of its 300 investment banking jobs in Asia outside Japan in response to a slowdown in activity in the region, two sources familiar with the matter told Reuters. The Wall Street bank is reducing the number of bankers working on mergers an

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World Bank eyes capital markets to boost loans for poor

The World Bank division that lends to the world's poorest countries is preparing to raise billions of dollars from capital markets next year after winning top-tier, first-ever credit ratings from Moody's Investors Service and Standard and Poor's. The World Bank said o

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‘Risks remain for EMEA emerging market banks’

Banks in emerging markets of the GCC countries, Nigeria, Russia, South Africa, and Turkey will stay under pressure for the remainder of 2016 and 2017, according to a new report from S&P Global Ratings. "The operating environments in these emerging banking markets are suf

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New push to boost Pakistan-Bahrain trade ties

Top officials and businessmen from Pakistan started to arrive in Bahrain yesterday (September 21) to attend a key conference next week, reported the Gulf Daily News, our sister publication. To read further, please visit

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Former Rakia official held over alleged fraud

A former senior official of a key development body in Ras Al Khaimah, UAE has been arrested in Saudi Arabia over an alleged $1.5 billion fraud, his lawyers said on Wednesday. Khater Massaad was detained at Jeddah airport, in the west of the kingdom, on Tuesday under an arrest war

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Iraqi finance minister sacked over corruption

Iraq's parliament removed Finance Minister Hoshiyar Zebari from office on Wednesday over corruption allegations, a move that risks further destabilising the major Opec producer's fragile economy as it struggles with a massive budget deficit. Parliament voted 158-77 to wit

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Digital channels 'offer huge opportunity for remittance sector'

Mobile and digital channels offer a huge growth opportunity for international money transfer organisations (IMTOs) as the industry still remains still 94 per cent 'brick and mortar', an expert said. Digital channels provide a tremendous opportunity to tap new audiences an

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