Monday 22 December 2014

Kuwait to maintain 6pc non-oil growth for 2 years

Kuwait’s non-oil growth, which accelerated notably in 2013, is expected to maintain its momentum, remaining around 5-6 per cent in the coming two years as government development projects keep their robust pace, a report said. Other indicators have also reflected the pick-up


NRIs in Bahrain to take part in major forum

Indian community leaders and businessmen in Bahrain will take part in a major conference that brings together thousands of non-resident Indians (NRIs) from around the world. The 13th Pravasi Bharatiya Divas (PBD) will be held from January 7 to 9 in Gandhinagar, Gujarat, said a re


Nanhua Futures joins DGCX as broker member

Nanhua Futures (Hong Kong), a wholly-owned subsidiary of Nanhua Futures, a leading Chinese overseas futures company, has been approved as a broker member of the Dubai Gold and Commodities Exchange (DGCX). Nanhua Futures (China) has been actively involved in both commodity and fin


DGCX records 19pc growth in November volumes

The Dubai Gold and Commodities Exchange (DGCX) recorded a 19 per cent growth in volumes in November, as compared to the same period last year, training more than 980,000 contract, valued at $28.5 billion.   DGCX’s flagship contract, Gold Futures traded 46,066 contracts


Social workspace for SMEs to grow opens in Dubai

The Bureau Dubai, a social workspace that provides support for local SMEs and entrepreneurs to grow and develop, has been opened in the heart of Dubai, UAE. The exclusive launching event was held with the presence of the founders Naaz Noor, Faten Kaddoura and Shahzad Bhatti and n


Himalayan implements new system to improve card issuing

Himalayan Bank, a leading private sector bank in Nepal, has implemented Cryptomathic’s data preparation system, CardInk and OMA Emirates’ personalisation software, NanoPerso, into its production environment to facilitate the issuance of its entire debit and credit card portfolio.


Saudi Arabia to keep spending in 2015 budget

Saudi Arabia will continue spending on development projects and social benefits in its 2015 budget despite "challenging" global economic conditions, Finance Minister Ibrahim Alassaf said on Wednesday, state news agency SPA reported. The world's top oil exporter is b


Abu Dhabi Global Market appoints new chief advisor

Abu Dhabi Global Market (ADGM), a leading financial centre in the emirate, has appointed Sir Hector Sants as its chief advisor effective immediately. Sir Sants will be advising the chairman of ADGM, the chief executive officer of ADGM Regulator and senior members of the ADGM team


UAE’s non-oil sector records marked business improvement

The UAE’s non-oil private sector economy has continued to record a marked improvement in business conditions mid-way through the final quarter of the year, according to SABB/HSBC survey data. The SABB/HSBC Emerging Markets Index (EMI), a monthly indicator derived from the P


Africa eyeing major Islamic finance push

Africa is not only ready for Islamic finance but also is aiming to take its stand in the global Islamic finance arena, a senior official of Bahrain-based General Council for Islamic Banks and Financial Institutions (CIBAFI) has said. According to CIBAFI secretary-general Abdelila

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