Tuesday 23 December 2014
 
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Foreign Exchange

Mideast 'new frontier for $5.3trn forex market'

Middle East will be the next frontier of $5.3 trillion daily global Foreign exchange (forex) market which has been growing in double digits year over year since 2004, said an industry expert. ‘By definition, forex is where t

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Global banks fined $3.4 billion in forex probe

Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup, on Wednesday for failing to stop their traders from trying to manipulate foreign exchange markets. Royal Bank of Sc

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UAE Exchange enables Task Spotting payments

UAE Exchange, a leading remittance and foreign exchange brand, has partnered with Task Spotting, an innovative mobile app technology platform, to offer the latter’s network of users the convenience of collecting their earnings.

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Travelex aims for London market listing

British foreign exchange company Travelex is seeking to list on the London stock exchange in May or June this year, two sources familiar with the matter said on Friday, in a deal which one said could value the company at more than 1 billion poun

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BBK Q1 profit up 7pc; tops $37m

BBK has reported a 7.1 per cent growth in net profit at BD14 million ($37.13 million) for the three months ended March 31, when compared with BD13.1 million for the same period last year. The earnings per share reported for the pe

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UAE Exchange transfers $14bn from emirates

UAE Exchange, a global leader in remittance and foreign exchange, remitted around $14 billion from the United Arab Emirates in 2013, largely to South Asia. In a statement, UAE Exchange said that growth in remittances from UAE was

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Egypt tourism revenues tumble 41pc

Egypt's tourism revenue sank by 41 percent to $5.9 billion in 2013 in comparison with a year earlier, Tourism Minister Hisham Zaazou said on Tuesday, a further sign of pressure on one of Egypt's main sources of foreign currency.

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NBK named top forex provider in Mideast

National Bank of Kuwait has been named the best foreign exchange provider in the Middle East by Global Finance (GF) magazine. GF has listed the World’s Best Foreign Exchange banks and providers by country, region and categor

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HSBC posts Q3 profit of $5.1bn

HSBC reported a 10 percent rise in third quarter profits on Monday, helped by tighter cost control and fewer losses from bad loans, and confirmed it was being investigated as part of a global probe into currency market trading manipulation.

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Ooredoo net profit slides 58pc in Q3

Net profit at Qatari telecoms company Ooredoo plunged in the third quarter mainly because of foreign exchange losses from its Indonesian affiliate Indosat, the company said yesterday. Profit fell 58 per cent to QR337 million ($92.

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