Thursday 1 September 2016
 
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Remittance

UAE remittances to Egypt hit $1.83bn in 2015

Egypt received an estimated $19.7 billion in remittances from the world over in 2015, of which $1.83 billion came from the UAE, according to remittance data of World Bank. Meanwhile, Jordan received $3.8 billion from countries acr

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UAE Exchange sees 6pc remittance growth in Q1

UAE Exchange, a top remittance solutions provider, has announced a six per cent year-on-year growth in its remittance transactions to the Arab corridor in the first quarter (Q1) of 2016. The company has also posted rise in remitta

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Wall Street Exchange business grows 10pc in 2015

Wall Street Exchange, a leading money exchange service provider in the UAE and a member of Emirates Post Group, has reported a 10 per cent growth in its remittance business for 2015. The chief marketing and support services office

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Gulf expats to be biggest victims of oil shock

Saudi Arabia's army of migrant workers will be among the biggest losers from the slump in oil prices and the impact will reverberate to poor countries across the Middle East and South Asia where many of them originate. Saudi A

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India’s Axis Bank boosts remittance offering in GCC

Axis Bank, the third largest private sector bank in India, continues to expand its partner network across the GCC region aiming to further strengthen its remittance offerings, said a top official. The bank has a specific focus on

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GCC expatriates sent $98bn home in 2014

Expatriates working in Gulf Cooperation Council (GCC) countries sent $98 billion in outward remittances in 2014, according to a World Bank report. GCC countries have seen a significant increase in migration inflows in the

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No plans for income tax in UAE: report

The United Arab Emirates (UAE) does not plan to tax the incomes of individuals or remittances abroad by foreign workers in the country, a senior government official was quoted as saying in local newspaper Gulf News on Wednesday. W

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Emirates NBD partners with SBI for 60-second remittances

Emirates NBD, a leading bank in the region, has expanded its partner bank network in India to include State Bank of India (SBI) for the DirectRemit 60 seconds remittance platform.    With this partnership, E

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UAE Exchange celebrates 35 years; remittances hit $26bn

UAE Exchange, the global remittance, foreign exchange and payment solutions brand which celebrates its 35th year of operations today, said as a single largest global remittance entity it now moves funds worth over $26 billion annually.

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Strong dollar sees surge in Gulf remittance flows

The US dollar's strength against Asian currencies is leading to a surge in remittances from migrant workers in the Gulf Arab region, exchange houses say, giving a boost to their home countries such as India, Philippines and Pakistan.

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