May 23, 2018

Standard Chartered and Barclays said to deny report of merger...

Standard Chartered said it’s focused on its strategy and isn’t responding to “speculation” in a newspaper report that Barclays has been exploring a potential merger with the emerging markets lender.

Barclays"...

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May 23, 2018

Moody's downgrades two Qatari banks by a notch amid softening...

Moody’s Investors Service has downgraded two Qatari banks as lenders in the country continue to struggle with lower profitability and deteriorating asset quality, amid a year-long Arab quartet boycott that has crimped economic growth.

The"...

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May 23, 2018

One-fifth of global banks think AI will boost customer experience...

Artificial intelligence (AI) is becoming a key part of the new technology mix in banks, according to a study by the Economist Intelligence Unit (EIU) for banking platform provider Temenos.

The"...

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May 16, 2018

Turkey lira hits record lows on Erdogan comments

Turkey's embattled currency the lira on Wednesday hit new historic lows against the dollar as investors took fright at comments by President Recep Tayyip Erdogan suggesting he wanted a bigger say in monetary policy.

The"...

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May 16, 2018

IDEMIA makes Smart PIN available to Ditto Bank, the next-generation...

(AETOS Wire) -- Launched in February 2018, Ditto Bank is a new generation digital solution, which offers multiple accounts in different currencies to frequent travellers, cross border commuters, expats and students who study abroad. Smart PIN service enables Ditto Bank customers to access their PIN codes instantly in their banking smartphone app. A seamless customer journey means that there is no need for them to wait days to receive their PIN code, which is available immediately, and use their card. As this feature of the smartphone app can also be used for PIN reminders, the card will also be easier to use, since there is no risk of customers......

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May 15, 2018

Nasdaq Dubai lists Damac’s $400m sukuk

Nasdaq Dubai listed today (May 13) a $400 million sukuk, issued by Damac Real Estate Development Limited (DRED).

DRED is a wholly owned subsidiary of Damac Properties PJSC. The sukuk was sold to investors in the Middle East, Europe and Asia reflecting Damac Properties’"...

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May 8, 2018

Windfall for Indian expats in UAE as rupee plummets to one-year...

Indian expatriates who are just about to send money home are in for a good windfall, with the Asian currency now at a one-year low against the US dollar. The rupee fell to its lowest level since February 2017 against the greenback on Monday, owing to higher oil prices and capital outflows. As of Monday afternoon, the rupee stood at 18.27 against the UAE dirham and 67.10 against the US dollar. “[It’s] the lowest it has been in more than a year,” Sudhesh Giriyan, COO of Xpress Money, told Gulf News. “The currency......

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May 7, 2018

Bank of England to keep rates steady after market U-turn...

The Bank of England looks set to keep interest rates on ice this week, capping a sharp swing in the outlook for the British central bank, which might now struggle to convince investors that it will raise borrowing costs at all this year. Unexpectedly weak economic data and cautious remarks"...

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May 6, 2018

Deutsche Bank to move New York headquarters from Wall Street...

South Africa has served the suspended head of its revenue service Tom Moyane with disciplinary charges related to alleged misconduct during his tenure, the president’s office said on Friday.

Moyane is one"...

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May 2, 2018

ADCB launches new subsidiary, becomes first local bank to...

Abu Dhabi Commercial Bank (ADCB) announced it has become the first local bank to establish a presence in the Abu Dhabi Global Market (ADGM), the International Financial Centre (IFC) of Abu Dhabi, by opening its flagship private banking centre within the new asset management subsidiary.

"...

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