Wednesday 28 September 2016

SWIFT launches 1st phase of payments innovation

SWIFT, a global provider of secure financial messaging services, has completed the first phase of the global payments innovation (gpi) initiative pilot, clearing the way for the go-live of the service in early 2017. During the pilot, 15 global banks representing more than 30 per


UAE, New Zealand discuss moves to enhance trade ties

The UAE and New Zealand have discussed moves to enhance cooperation and economic relations between the two countries, especially across vital sectors and areas like renewable energy, agriculture, food and innovation. Engineer Sultan bin Saeed Al Mansouri, Minister of Economy, rec


UAE tops in competitiveness in region

The UAE was ranked first regionally and 16th globally in the latest Global Competitiveness Report issued by the World Economic Forum (Davos) in Switzerland. The report is one of the most important global competitiveness reports, which monitors annual performance and competitivene


ADGM partners with Jordan Securities

The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and Jordan Securities Commission (JSC) signed an agreement (MoU) to enhance regulatory cooperation and foster cross-border activities. The MoU establishes a framework for both Authorities to


Value of GCC insurance sector triples

The GCC insurance industry value has more than tripled between 2006 and 2015, with insurance premiums increasing to $24 billion in 2015 compared with $6.4 billion in 2006, reported the Gulf Daily News, our sister publication. To read further, please visit


Saudi sends strong message with cut in wage, benefit bill

Saudi monarch King Salman bin Abdulaziz Al Saud's decision to slash ministerial pay by a fifth reflects the kingdom's resolve to nudge its citizens into tolerating a fall in living standards at a time of low oil prices, said experts.   King Salman had on Monday issued


Investcorp to distribute $700m to investors

Investcorp, a leading provider and manager of alternative investment products, today announced  projected investment distributions of over $700 million to investors (including itself) in the first quarter of its fiscal year 2017 (FY17). This follows a series of successful exits ov


GFH distributes semi-annual dividends to investors

GFH Capital today announced the recent distribution of semi-annual dividends for a number of its investments and funds in line with its continued progressive dividend policy. These include distributions to investors of GFH funds with underlying investments in a number of regional


Kuwait bourse to introduce stock swing limit

Kuwait's stock exchange will introduce a limit of 20 per cent for the maximum daily rise or fall of individual stocks by November, Khaled Abdulrazzaq al-Khaled, chief executive of Boursa Kuwait, which operates the exchange, said on Tuesday. The exchange will also introduce a


Mobile phone most preferred payment device in UAE

Mobile phones are the most commonly used device among consumers in the UAE and more than half of all consumers (59 per cent) prefer using their smartphones over any other device to make payments, a report said. While over 70 per cent in Africa and the Middle East said they were r

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