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Spend Wise, Save More – A Short Guide to Better Financial Planning Four simple, yet useful, tips and tricks to save money and help you tread carefully during tough times. No one wants to be wasteful with money, but with our...
  11 outstanding global FinTech firms have been shortlisted for the inaugural FinTech Abu Dhabi Innovation Challenge in October, organized by Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, in collaboration with KPMG. The selected firms are currently undergoing an intensive...
Lebanese Finance Minister Mohammad Safadi announced plans to raise $2 billion in eurobonds this year after borrowing costs of the most indebted Arab country registered a record drop. “We are now talking to the financial markets to get their advice...
Bitcoin seeks to become the de-facto world currency for online purchasing. Arabian Gazette's Zain Naeem looks into the Bitcoin phenomenon. Imagine an electronic currency that can be transferred and used for transactions from one peer to another. Imagine how this will affect...
Islamic finance & Halal are powerhouses that are driving the Islamic economy forward. Whilst using the product-centric approach has worked till date, it’s critical to take on board the sociological changes that have come about. Authenticity & value are...
Dubai moves closer to becoming world's first blockchain-powered city The Dubai Land Department (DLD) announced today that it has become the world’s first government entity to adopt blockchain technology, reflecting the ‘Dubai Blockchain Strategy’. The Dubai Blockchain Strategy announced in...
Middle East and North Africa banking and securities companies' software spending to hit $12.8 billion in 2014 Software spending for the Middle Eastern & North African banking and securities Firms is forecast to grow at 10 percent in 2014, thanks to...
The analogy between any competitive sport and the cutthroat world of finance works at many different levels. They overlap when it comes to training, but it is in the real world that competition turns into a 'dog-eat-dog' proposition. This makes...
Abu Dhabi is all set to foray into Middle East's financial hub, competing with established hubs like Dubai's DIFC, Qatar's QFC and Bahrain's Financial Harbour. Abu Dhabi launched Sowwah Square, a 3.5 million square metre commercial and residential project, at the...
Dubai International Financial Centre (DIFC) to grow three-fold over the next 10 years Aims to position the Centre among the top 10 financial centres globally Plans to domicile 1,000 financial firms in the next 10 years, in comparison to 362 in...
Dubai Islamic Bank (DIB) has shortlisted five banks for sukuk, an Islamic bond, othat will be issued at the end of May, Reuters quoted three anonymous sources as saying on Tuesday. The Islamic lender has mandated Deutsche Bank, Emirates NBD, HSBC,...
The international rating agency Moody’s Investor Service on Wednesday maintained its stable outlook on the banking system in the United Arab Emirates. The Moody’s statement covered banking system’s creditworthiness over the next 12-18 months and kept its stable outlook unchanged...
The creation of Mortgage Backed Securities (MBS) and Collateralised Mortgage and Debt Obligations (CMOs and CDOs) were lauded when they were created. They were based on the basic blueprint of a financial product. It is like having a way...
Reports coming from the staff at HSBC Middle East suggest they have received an email on Wednesday that said the company plans to go ahead with its redundancy plans. Arabian Business, a leading Middle Eastern news website, reported jobs could be...
Jeddah-based Islamic Development Bank (IDB) has entered into a three-year agreement with the World Bank to share their expertise in Islamic banking and finance and study their impact on global economy. Under the agreement, both the banks will extend cooperation...
What is it that the banks fear today the most? There are a variety of risks in the global scenario.  If banks faced a perfect storm in 2008, then they are now set to face the next thing up -...
Who is trying to weigh the yellow metal down? Do you know the answer? Do we have a new hero in the making, say the Yellowman? Just like Batman, works in the dark, at the most unassuming hours and does...
Over 80 million people in the Middle East and Africa will turn to mobile banking by 2017. After many years of speculation and high hopes, mobile money is: “Not the next big thing. It is already a big thing." -- Tracey...
Rajat Gupta is?the son of an Indian independence hero. He often quoted Gandhi as an inspiration, made his way from the lower middle class roots in Kolkata to the elitist Harvard Business School and went on to become the...
JLL Survey Highlights Dubai amongst Global Metropolises with Stronger Economic Trends In order to determine and map out the futuristic developmental trends of leading metropolises, leading global property consultants, Jones Lang LaSalle (JLL) carried out the first City Momentum Index...
Kuwait's Global Investment House shareholders on Sunday approved a final plan to create new special purpose vehicles that will carry the company's debt as part of the $1.7 billion debt restructuring plan. Global Managing Director Maha al-Ghunaim told a news...
Abraaj Capital, the Middle East's largest private equity firm, has announced plans to expand further in India. Dubai-based Abraaj joined hands with Sabre Capital, a leading private equity firm in India, to form Sabre Abraaj Capital in 2006. Both...
It seems the Indian rupee is still susceptible to volatile price swings -- first seen in the 1990's -- and that vulnerability was recently exposed when the rupee fell to an all-time low of nearly 70 rupees per dollar. The...
The chief executive officer of the UAE's Securities and Commodities Authority (SCA) said Saudi Arabia's long awaited move to open up its financial markets to foreign investors will bring rewards to its Emirati counterparts. Abdullah Al Turifi, the head of the SCA,...
Abraaj Capital, the Middle East's largest private equity firm, has acquired Amundi, a North African private equity concern. The Dubai-based firm is jointly owned by Societe Generale and Credit Agricole and has assets worth $6.2bn. It seeks to expand its...
Reports coming from Qatar suggest the sheikhdom is planning to issue sukuk (Islamic bonds) for the first time in nearly a decade amid growing global demand for safe havens and sharia-compliant assets. Doha has mandated banks for investor meetings in...
Qatar's fifth-largest bank by market value is considering selling shares in London as part of a plan to boost capital by up to $1.6 billion in 2013, four banking sources said in a report published by Reuters. Speaking on condition...
The government of Abu Dhabi intends to establish a full-service financial zone on Al Maryah Island near Abu Dhabi's city centre. Initial reports suggest that the zone would have an independent administration and court system to attract banks and...
Dubai based financial consultant Jessica Cook offers five financial fundamentals to get you off to a kick- start the New Year and get your finances in order 2015 is almost upon us and the New Year is the perfect time...
Iran announced on Monday it has sentenced to death four men accused of embezzling $2.6bn from banks and committing the largest fraud in the nation’s history. Iranian Prosecutor-General and Judiciary Spokesman Gholam Hossein Mohseni Ejeii presented the court's decision in front...
The fundamental challenge that was seen after the global financial crisis of 2008 was the fact that there was a need for regulation. The same sentiment was heard when the banks started using dangerous strategies and trades in order...
The US FATCA regulation will make it impossible for any financial institute to operate without registering with the Internal Revenue Service (IRS). MENA region, with 48.5% of the world’s proven energy resources, is set to record an economic growth of...
With ambitious plans to leverage the Emirates ID, a ubiquitous mobile wallet, and its state of the art 4G infrastructure, the UAE is well poised to achieving its objective of making Expo 2020 an event that showcases life in...
Mashreq CEO highlights growing role of Dubai as global hub for trade and finance The Middle East & Africa day at Sibos began with a speech by Alain Raes, Chief Executive, EMEA & APAC at SWIFT, who then introduced to...
Kuwait's central bank governor has announced he will change its loan-to-deposit ratio rules for banks in a bid to boost lending. State-run news agency KUNA reported that calculations for the new loan-to-deposit ratios will be based on loan maturities. The announcement...
Deloitte Survey Reveals Changing Preferential Moods: From China to the Middle-east  Despite the gloom and doom that overrode most of the global economy in 2013, the Asian economic giant China notched some significant successes as far as its economic activities...
The Dubai stock market fell to the lowest level in more than four months on concerns over worsening debt crisis in Europe and a global economic slowdown that will dampen demand for Gulf oil. Shares of Emaar, the developer of the...
Your teenage son is going out with friends and you are worried that he might run out of money. Don’t worry; there is a solution for you. You can use your mobile phone to transfer money in a matter...
The tale of black swans and finance might be seen as abrupt and sudden but the concept plays an integral part in the definition of finance overall. The term was coined by Nassim Taleb and is one of the...
An?Emirati man alleged to be the one behind the UAE's largest fraud scheme has defended charges brought against him and pleaded innocence. In total 94 people were charged, including AAQ, an Emirati, who has been sentenced to 5 years in...