GCC banks navigate rising rates with record lending
Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the...
Business
UAE approves Dubai Metro Blue Line project
DUBAI, UAE - Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the...
Geostrategy
UAE Central Bank’s gold reserves swell to $3.1 billion in April
The bank in its latest figures released on Thursday showed steady growth in gold reserves The reserves shot up by...
Dh54.8 bn investments by UAE banks in various asset classes
The investments were made in held-to-maturity securities, debt securities, equities, other vehicles Other investment instruments valued Dh46.6 bn by end...
Commercial Bank of Qatar to buy 15% stake in National Bank of Oman
Qatari bank will pick up fifteen percent stake for $128 million Banks generally try to keep a majority stake in...
Luxembourg-UAE ties to expand beyond financial services: minister
At present, financial services form Luxembourg's biggest export to UAE Future economic ties to also focus on will space, fourth...
GISEC 2021: Strategies for ‘guarding the digital vault’ discussed
GISEC 2021 is the Middle East’s most influential and connected cybersecurity event International chief information security officers (CISOs) map out...
$50-billion global plan mooted to deal with pandemic, drive recovery
$50 billion needed to enhance manufacturing capacity, supply, trade flows, and delivery Governments urged to act or risk continued...
Liquid assets in UAE banks reach $132bn in first quarter: Central Bank
*Steady growth in liquidity a new sign of the gradual economic recovery, primarily in retail and commercial platforms *UAE Central...
Liquid assets up to Dh486.58 bn in Q1’21: UAE Central Bank
The steady growth in liquidity is a new sign of the gradual economic recovery Liquid assets accounted for 15.9 percent...
New version of Khaleeji Mobile App launched
The new App version offers an integrated range of banking services, financial solutions KHCB is a leading Islamic bank that ...
UAE: AXA offers AXA Life Protect
The plan provides coverage against the loss of life due to accident or sickness Be it household expenses, servicing personal...
GCC banks navigate rising rates with record lending
Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the...
Business
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GCC banks to benefit from 2022 growth momentum
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FAB, Magnati, PayRow join hands
Business
Bank of China lists $300m bonds
Business
EU parliament approves sweeping cryptocurrency rules
The European Parliament approved the comprehensive rules to regulate the "Wild West" world of cryptocurrencies, hoping to protect investors against...
Economy
HSBC calls for vetoing split proposal
HSBC's largest stakeholder Ping An says the split will improve business.
Business
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Business
Large US banks post higher profits despite recent industry turmoil
JPMorgan Chase reported a rise in first-quarter profits alongside banking giants Citigroup and Wells Fargo. The first look at the...
- Recent banking industry turmoil following the collapse of Silicon Valley Bank raised worries about a flight of deposits.
- Shares of JPMorgan rose 7 percent to $138.06, Citi gained 3.1 percent to $48.7, Wells Fargo dipped 0.1 percent to $39.63.
Economy
More monetary tightening required, says top Federal Reserve official
The US should continue tightening monetary policy to bring down inflation while assessing the impact of last month's financial turmoil...
- The rate-setting Federal Open Markets Committee voted last month to continue raising interest rates to tackle inflation.
- The FOMC took this decision despite the turmoil when Californian high-tech lender Silicon Valley Bank dramatically collapsed.
Economy
IMF chief calls upon global community to avert a ‘second Cold War’
Countries must do more to avert the costly consequences of growing global trade fragmentation, and help avert a "second Cold...
- Multilateral institutions like the World Bank and IMF have an important role to play in preventing the world from splintering into different blocs.
- An IMF report said that growing trade fragmentation due to Brexit, US-China trade war and Russian invasion of Ukraine, could make the global economy.