Tuesday 24 April 2018

Mena growth to exceed 3pc in 2018: World Bank

A favourable global economic environment, stability in the oil market at slightly higher prices and the resumption of post-conflict reconstruction will drive growth in the Mena region to 3.1 per cent in 2018, said the World Bank. A favourable global economic environment, stabilit


UAE cbank deposits reach $15 billion in Q1

Monetary deposits at the UAE Central Bank stood at Dh55.8 billion ($15.2 billion) in the first quarter of 2018 while withdrawals reached about Dh55 billion, according to the figures released by the UAE Central Bank yesterday (April 17). Value of deposits in banknotes was Dh55.78


Auditing industry ‘helps UAE’s economic competitiveness’

The highest standards of auditing principles are upheld by the business community and integrating the digital advances is central in promoting the UAE’s reputation as a global hub for business, said the founder-chairman of Emaar Properties. The highest standards of auditing


Abu Dhabi, Dubai growth to stay at 3pc: Fisch

Growth in Abu Dhabi and Dubai will remain at a sustained level of approximately3 per cent over the next few years, if oil prices remain stable around current levels, according to Fisch Asset Management, a leader in credit analysis. Growth is predicted to be steady, although modes


Mashreq launches quick remit service to India

Mashreq Bank, a leading financial institution in the UAE, has announced the launch of Quick Remit– Instant Money Transfer service to India.  The service is designed to be instantaneous, smart and convenient as it ensures instant account transfers at attractive exchange


Citi opens new offices in Riyadh

Citi, a leading global bank, has announced the official opening of its new offices in Riyadh, Saudi Arabia, located at the Kingdom Tower. “We are delighted to establish an office in the Kingdom and be open for business on the ground. The expansion to Saudi is in line with o


Germany's Allianz buys key stake in Saudi-listed company

Allianz Group, a leading European financial services company based in Munich, Germany, has reached an agreement with Banque Saudi Fransi (BSF) for a significant stake in the Saudi-listed Allianz Saudi Fransi Cooperative Insurance Company (AzSF). This is the first time that a fore

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