Friday 9 October 2015

Dubai-Switzerland trade tops $4.3bn in H1

The bilateral trade between Dubai, UAE and Switzerland amounted to Dh16 billion ($4.35 billion) during the first half of the year, with imports accounting for Dh 9 billion, exports for Dh 2 billion and re-exports for Dh 5 billion. The measures undertaken by Dubai Customs in Intel


Dubai Investments appoints new COO

Dubai Investments (DI), a leading investment company listed on the Dubai Financial Market (DFM), has appointed Krishnamurthy Sundaresan as its chief operating officer (COO). Sundaresan, a Singaporean national, has over 22 years of experience in international companies across the


Ultra rich in Mideast control $995bn wealth

There are nearly 6,000 ultra high net worth (UHNW) individuals in the Middle East with a combined net worth of $995 billion, according to a Wealth-X study. Saudi Arabia has the largest UHNW population (1,495 ultra wealthy individuals) and UHNW wealth


Qatar banking head cools rate hike talks, won't follow US

Qatar's central bank governor sought to dampen expectations for rising interest rates on Saturday after a jump in local bill yields suggested liquidity in the Qatari banking system was beginning to tighten. On Thursday, the central bank unexpectedly sold just half of the amou


Dubai Holding unit profit surges 24pc to $708m

Dubai Holding, a major investment conglomerate with operations in 24 countries, said its commercial operations group has registered a net profit of Dh2.6 billion ($708 million) in the first half, up 24 per cent over Dh2.1 billion last year.   The Dubai Holding Commercial Oper


Warba Bank appoints new area manager

Warba Bank has promoted its Salmiya Branch Manager Abdullah Nasser AlShail to the position of area manager, as part of its ongoing keenness to execute the bank’s plan aiming at developing skilled Kuwaiti calibre across all sectors.   AlShail will be respon


Mubadala GE to sell most assets to MidCap FinCo

Mubadala GE Capital, a joint venture between Abu Dhabi state fund Mubadala and General Electric's finance business, has agreed to sell most of its assets including those held through subsidiaries.   Mubadala GE Capital had been evaluating its future structur


Nikko Asset Management offers fund for ME investors

Nikko Asset Management, a leading asset manager, has launched a Luxemburg-domiciled Asia ex-Japan Equity UCITS fund that will allow Middle Eastern investors to tap into investment opportunities in Asian markets.    The fund, managed by Nikko Asset Managemen


Qatar halves T-bill sale as bank liquidity tightens

Qatar's central bank unexpectedly halved the size of a routine treasury bill sale on Thursday, a sign that low oil and gas prices are starting to pressure the banking systems of Gulf Arab energy exporters.   The central bank auctions a total of QR4 billion (

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