Saturday 29 July 2017

UAE bankers launch ‘Service Promise’ initaitive

The UAE Banks Federation (UBF), a professional body representing 48 member banks operating in the emirates, has announced that it has secured support of the Central Bank for its initiative which aims to develop a unified framework for handling complaints of bank customers in the country.


Sharp fall in Mideast business confidence

Business confidence across the Middle East has fallen sharply in the last quarter and is now at its lowest level since the second quarter of 2016, according to the latest edition of the Global Economic Conditions Survey (GECS). The region is also likely to face further challenges


UAE banks group launches customer service drive

The UAE Banks Federation (UBF) has announced that it has secured the support of the Central Bank for its initiative that aims to develop a unified framework to handle customer complaints, a report said. The UBF is a professional body representing 48 member banks operating in the


Saudi economic reforms win IMF praise

The International Monetary Fund (IMF) has commended Saudi Arabia’s economic reform programme, under the Kingdom’s vision for 2030, which has made considerable progress in launching an ambitious reform agenda while financial control efforts have begun to bear fruit.  


KPMG Bahrain launches online ‘Learning Hub’

KPMG, a global network of professional services firms providing audit, tax and advisory services in Bahrain, has launched its new corporate training portal which offers online training modules to organizations across all sectors, helping them to prepare for and meet the challenges of operating


DGCX wins key Abu Dhabi regulatory nod

The Dubai Gold and Commodities Exchange (DGCX) and its subsidiary, Dubai Commodities Clearing Corporation (DCCC) have been recognised as a remote exchange and clearing house by the Financial Services Regulatory Authority (FSRA), the regulatory authority for the Abu Dhabi Global Market (ADGM).


Kuwait's trade surplus with Japan up 46pc

Kuwait's trade surplus with Japan expanded by 46.1 per cent from a year earlier to 25.6 billion yen ($228 million) in July, up for the sixth month in a row, thanks to brisk exports, said state news agency Wam citing data from Japanese Finance Ministry. Kuwait’s overall


Burgan Bank's H1 net income up 24pc

Kuwait-based Burgan Bank Group has registered a 24 per cent jump in its net income for the first half of 2017 which soared to KD39 million ($128 million) from last year's KD31.4 million ($103.5 million). Announcing the earnings for the first six months, Burgan said the select


Dubai ICD's portfolio grows 6.9pc to $209.5bn

The Investment Corporation of Dubai (ICD) has announced its consolidated financial results for the year ended  December 31, 2016 demonstrating robust revenues of Dh176.3 billion ($48 billion) and a net profit of Dh22.1 billion ($6 billion). The results were achieved against


Global corporates urge banks to use Swift gpi

Six leading Swiss corporates with international operations - including ABB, Nestle, Roche, SBB, Swiss Re and Wurth – have issued an open letter, stating their support for the Swift global payments innovation (gpi) and encouraging banks worldwide to use the service in order to improve cros

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