Monday 21 April 2014
 
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retirement

32 dead in Quebec seniors' home fire

Thirty-two people were presumed to have died in a fire that swept through a wooden retirement residence in the eastern Canadian province of Quebec on Thursday, police said on Saturday. Ten bodies have been recovered and 22 people

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NBK group CEO to step down

National Bank of kuwait, the country's leading lender, said on Wednesday that its group chief executive officer Ibrahim Dabdoub will step down from his role following the next General Assembly Meeting. Dabdoub will however, co

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Dubai moots Islamic savings scheme for UAE expats

Dubai has proposed to the federal government of the UAE that the country create a sharia-compliant retirement savings scheme for foreign workers, a step which could help to develop the Islamic funds industry. The aim is that the s

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Critical gaps seen in NRIs retirement plans

Risk aversion and lack of professional advice is leading to critical gaps in financial and retirement planning amongst UAE-based non-resident Indians (NRIs), according to the first Standard Life NRI Wealth Study. Standard Life, a

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56pc UAE employees worry about retirement

Over half (56 per cent) of UAE employees are worried about their future financial state amidst concerns over their ability to retire with a sufficient income, according to research from global professional services firm, Towers Watson.

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UAE residents warned on careless spending

United Arab Emirates residents risk an uncertain financial future if they continue with a “live for the moment” mentality, said a report issued by Nexus Insurance Brokers, a leading financial firm in the GCC. The trend

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Gulf Air says 500 jobs cut in past 6 months

Bahrain's state-owned carrier Gulf Air has cut over 500 staff positions in the past six months, its chief executive said, after the airline announced it was setting up a voluntary redundancy program. The positions were cut through a co

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Gulf Air launches voluntary retirement scheme

Gulf Air today announced a voluntary redundancy/ retirement scheme (VRS) for its employees aimed at optimising its workforce and improving efficiency. The initiative is part of the airline’s new strategy to create a dynamic and commercial

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Egypt set to raise retirement age to 65

Egypt's cabinet has proposed a law to raise the retirement age by five years to 65 and to make other pension changes that the Finance Ministry said would help boost the savings rate and improve growth prospects.    Analysts

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Expats 'less hopeful of early retirement'

Almost two thirds of expats living in the Middle East hope to retire before they reach 60 but far fewer are confident of doing so, says a survey. The research from Zurich International Life (ZIL) shows that despite an average of 60 per cen

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