Friday 22 June 2018

CBB raises key policy interest rates

The Central Bank of Bahrain (CBB) said it has raised its key policy interest rate by 25 basis points. The move comes following the US Federal Reserve decision to raise its target range for the federal funds interest rate. Announcing the key decision, CBB said  the policy interest


Term deposits in UAE banks surge 15pc to $52bn

The 6-12 month term deposits in UAE banks surged to around Dh190 billion ($51.7 billion) during the first four months of the year, a 14.9 growth from Dh165.3 billion by the end of 2017, a media report said. The growth is attributed to a rising demand over this type of deposits fo


ADGM signs Astana financial services deal

Abu Dhabi Global Market (ADGM) said it has signed a co-operation agreement with Astana Financial Services Authority (AFSA), a legal entity and statutory body of Kazakhstan through its registrars. AFSA is a financial hub for Central Asia, the Caucasus, Eurasian Economic Union (EAE


Palmex gets sandbox license for cryptocurrency

Palmex, a professional digital asset exchange powered by ArabianChain Technology, has become the first and only cryptocurrency exchange in the Mena region to receive a Regulatory Sandbox License. The Central Bank of Bahrain (CBB) granted the Regulatory Sandbox License to Palmex u


Berkeley Assets acquires blockchain firm Cryptech

Private equity firm Berkeley Assets has acquired global investment and advisory service Cryptech, a Blockchain organisation which provides investment opportunities to individuals and institutions who want to explore the technology. The acquisition comes at a time when Cryptech ha


Mubadala to launch $400m European tech fund

UAE-based Mubadala Investment Company (Mubadala) has planning to create a $400 million fund which will mainly invest in leading European technology companies. The announcement was made during London Tech Week, a week-long festival of technology and innovation focused on creating


Dubai Islamic donates $5.4m to RAK charity

The Dubai Islamic Bank (DIB) has donated Dh20 million ($5.4 million) in Zakat money to the Ras al-Khaimah Charity Association, as part of its efforts to support social and charitable societies and associations. Abdul Razzaq Al Abdullah, head of the Community Services Department o


Investcorp wins 4 awards at EMEA Finance event

Bahrain-based Investcorp, a leading global provider and manager of alternative investments, said it has won awards in four categories at the EMEA Finance Achievement Awards ceremony held in London, UK. The recognition highlights the firm’s continued ability to deliver stron


Dubai FDI named top investment promotion agency

Dubai FDI has been named the region’s first-ever ‘Top Investment Promotion Agencies Africa & Middle East – Regional’ by Site Selection, a global investments publication based in the US for its role in attracting foreign investments to the UAE and the region.


Adnic gives one-month bonus to mark Zayed anniversary

Abu Dhabi National Insurance Company (Adnic), one of the largest and leading regional multi-line insurance providers for corporates and individuals, has issued a bonus of one-month’s salary to its employees. This is in celebration of the centennial anniversary of the birth

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