LONDON / Reuters Indian gold imports will drop back sharply after jumping in the first quarter, the World Gold Council said on Wednesday as the launch of a new tax regime and restrictions on refiners’ ability to import gold dore take their toll. Full-year imports will be little changed from 2016’s 524 tonnes, gold industry-funded WGC’s managing director for India …
Read More »
ABU DHABI / WAM The 9th International Economic Summit in Kazan between Russia and the Organisation of Islamic Cooperation (OIC), member countries started on Thursday in Kazan, the capital of Tatarstan, and will conclude on May 20. The UAE’s participation in this event is represented by a senior delegation, chaired by Dr Rashid bin Ahmed bin Fahad, Minister of State. …
Read More »
ABU DHABI / WAM The number of floating shares in the national banking sector available for trading reached 25.6 billion at the end of the first half of May, constituting 50 percent of the total capital of 18 national banks, amounting to 51.2 billion shares. The latest official statistics issued by the Abu Dhabi and Dubai financial markets show a …
Read More »ABU DHABI / WAM Abu Dhabi Global Market (ADGM) has announced that it joined R3 as a new member of its international consortium. ADGM is the first regulatory body in the Middle East and North Africa region to be part of the R3 consortium, comprising over 80 members from the world’s leading financial institutions and regulators. As a member, the ADGM …
Read More »DUBAI / Reuters UAE Exchange Group, a global remittance and foreign exchange business, aims to spend between $250 million and $300 million on acquisitions to build its global market share, its chief executive said. The group aims to increase its share of the $575 billion global remittance industry to more than 10 percent by 2020, from 6.75 percent currently, Promoth …
Read More »
Abu Dhabi / Emirates Business The UAE participated in the first trade and investment dialogue between the Gulf Cooperation Council (GCC) and the European Union (EU), which concluded at the headquarters of the Council’s General Secretariat at Saudi Capital of Riyadh. The Ministry of Economy organized the UAE delegation which was headed by Mohammed Nasser Hamdan Al Zaabi, Director of …
Read More »
Bloomberg Oman plans to sell $2 billion of Islamic bonds this month as it seeks to trim a large budget deficit caused by lower oil revenue, Finance Minister Darwish Al Balushi said. The crude exporter’s budget deficit will reach 12 percent of economic output this year and it will continue to narrow in the coming years, Al Balushi said in …
Read More »
Abu Dhabi / Emirates Business Etihad Airways, the national carrier of the UAE, has tasted success at the INSIGHTS Middle East Call Centre Awards. The annual competition is now in its 12th year and sets the regional benchmark for remote customer interaction success. The airline collected two prestigious awards at the ceremony held at The Crowne Plaza Hotel in Dubai. …
Read More »
Dubai / Emirates Business UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, is bringing its financial services to the doorsteps of its customers. Smart Pay, the wages protection system (WPS)-compliant payroll solution of UAE Exchange, is introducing the Mobile Exchange facility for the employees of its corporate clients to withdraw salaries literally from anywhere. This new …
Read More »
Dubai / Emirates Business Renowned entrepreneur and chief executive officer of Regulus Capital, Shailesh Dash, cemented his position as an investment guru and visionary after he bagged one of the most coveted awards at the just concluded 2017 Bankers Middle East awards. The Regulus Capital founder emerged the clear favorite and this year’s recipient of the ‘Best Strategic Vision’ award. …
Read More »
The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.