2004
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Amlak Finance, discount card
Amlak Finance has introduced a Privilege Card that provides all its mortgage finance customers with offers from outlets specialising in both home interiors furnishings and garden furniture. The Privilege Card will offer discounts ranging from five to 25 per cent at 23 furniture and home-related stores across the UAE.
UAE stocks continue rally
UAE stocks continued to rally yesterday with a one per cent gain taking the Emnex Index to 4,281.96 points. This means the market is up by 46.7 per cent since the start of 2004, though still off its summer peak of almost 52 per cent. Falling oil prices might start to dampen investor enthusiasm, said analysts.
Oman, Philippines exchange link-up
Oman UAE Exchange, one of the largest exchange companies in Oman, has entered into a drawing arrangement with Metro Bank of the Philippines. Metro Bank provides a host of deposit, savings and loan products as well as electronic banking services like Internet banking, mobile banking, phone banking and a wide ATM network.
UAE money exchanges re-open
UAE money exchanges re-opened yesterday after a three-day closure as a part of the official mourning for the death of UAE President Sheikh Zayed bin Sultan Al Nahyan last week. Firms reported brisk business after the unexpected sudden closure.
HSBC launches Damas promotion
HSBC cardholders who shop at Damas 22K outlets are being entered into a draw to win back their spend. The promotion runs until November 15, and all purchases will earn double Air Miles. Every Damas customer pre-booking a jewellery item before November 10 will also receive a free sterling silver laced pearl necklace.
Emirates Post takes parking fines
Motorists who have received a parking fine in the UAE can now go to their nearest Emirates Post Office to pay it off. There are no extra charges for the service, and post offices also sell pre-paid parking cards.
UAE banks gain in retail battle
UAE local banks are winning customers away from their foreign rivals, reported Gulf News whose sources said the foreign banks had complained to the Central Bank about the transfer of deposits. They said this showed a growing confidence among depositors in the national banks.
BKME, online trading first
The Bank of Kuwait and Middle East said it is offering customers the opportunity to deal in the Kuwait Stock Exchange and US stock markets via the internet through its BKME online trading service, making it the first bank in Kuwait to offer such services.
StanChart, new SME debit card
Standard Chartered Bank has introduced a new Visa business debit card for small and medium enterprises. UAE CEO Ray Ferguson said we are strongly committed to the SME sector which contributes significantly to the rapid growth of the UAE and remain committed to tailored solutions for the business community.
EBG cards, Companion Points
Emirates Bank Group has entered a new agreement with Companion Points to offer these benefit and rewards to its 250,000 cardholders from the end of the year. Companion Points is a loyalty card scheme which awards points to customers shopping at 800 partners in the UAE.
Harmony CEO tips gold
The USD8.2bn bid for Gold Fields by Harmony last week has pointed to the attractions of investment in the yellow metal. Harmony CEO Bernard Swanepoel told Bloomberg TV that gold has enjoyed a two-year bull market which will continue for at least another two years.
Mashreqbank, new gold product
MashreqInvestments has launched its new Gold Range investment product with 100 per cent principal guarantee over two years and the opportunity to earn up to 4.5 per cent per annum depending on movements in the international gold markets. Returns are paid quarterly.
US dollar worries savers
The sudden decline in the US dollar on global financial exchanges last week has left savers in the Middle East wondering whether to switch to a safe haven currency such as the Swiss franc or euro. Many traders think the fall of the US dollar has further to go.
UAE shares in modest rally
UAE shares have staged a modest rally in the past two days, pulling back some of the losses of recent weeks. The Emnex Index gained 1.16 per cent yesterday and is now 43.82 per cent up on the year. Shares is Emaar Properties have rebounded from Dhs6.7 to Dhs7.54.
HSBC promotes Premier accounts
HSBC International is promoting its Premier accounts available through all HSBC branches in the UAE. Holders get a dedicated relationship manager, reduced charges, a Premier MasterCard, preferential interest rates, day and night helpline and global services with the HSBC network.
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