Banking
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Central Bank of UAE raises interest rates following the Fed’s increase
Following the US Federal Reserve’s largest interest rate rise since 1994, the Central Bank of the UAE (CBUAE) has decided…
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Abu Dhabi’s ADEX partners with Capital Bank of Jordan to boost national exports
The Abu Dhabi Exports Office (ADEX), the export-financing arm of the Abu Dhabi Fund for Development (ADFD), has signed an…
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US Senate passes NOPEC bill despite backlash from oil producers
The NOPEC (No Oil Producing and Exporting Cartels) Act was passed by a Senate subcommittee on Thursday with a 17:4…
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Central Bank of the UAE and other Gulf banks raise rates following the US Federal Reserve
Following the US Federal Reserve’s decision to increase rates, the Central Bank of the UAE (CBUAE) has decided to raise…
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IBM CEO Arvind Krishna Elected to Federal Bank of New York’s Board
Arvind Krishna, Chairman and Chief Executive Officer of IBM (International Business Machines Corporation), has been elected to the Federal Reserve…
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Insurance giant LIC opens IPO sale for investors
Institutional investors flocked to buy shares in India’s state-run insurance giant Life Insurance Corporation (LIC) in a $2.75 billion (£2.18…
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Citigroup in ‘Active Dialog’ about selling its Russian retail operations
Citigroup Inc.’s consumer and commercial banking operations in Russia are in “active dialogue” with possible buyers, according to Chief Executive…
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First Abu Dhabi Bank records highest ever profit in the first quarter of 2022
First Abu Dhabi Bank (FAB), the UAE’s largest lender by assets, recorded a net profit of $1.38 billion (AED 5.1…
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ADB considers sanctioning a loan to an unnamed Maldivian Bank
The Asian Development Bank (ADB) is considering lending a loan to a Maldivian bank, according to Ashok Lavasa, Vice-President for…
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BNP Paribas launches €900 million share buyback program
The French international banking group BNP Paribas launches €900 million share buyback program on the strength of its confirmed growth…
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