2005
- The news you choose »
- Login to Add to Watchlist
HSBC, Enoc credit card payments
HSBC credit cardholders can now settle their monthly credit card statements at Emirates National Oil Company outlets, following an agreement. The service is available 24/7 at Enoc and Eppco outlets. Service stations have been equipped with monitoring systems to increase security for customers.
APTF up 2.3%
Daman's Arabian Programmed Trading Fund recorded a growth of 2.3% during November, increasing in net asset value from $119.47 on 27 October to $122.22 on 24 November 2005, reported WAM. The gains were made despite recent falls in UAE stocks in the last month.
DIB, Al-Islami Personal Finance
Dubai Islamic Bank has launched Al-Islami Personal Finance to satisfy financing needs based on the Islamic financing principles of both Ijarah and Murabaha. This is suitable for financing of electronics, furniture, vehicles and services such as house rent in advance, education and travel.
Tamweel opens in Sharjah
Chairman of the Sharjah Economic Development Department Sheikh Tariq Al Qasimi has inaugurated Tamweel's first branch in Sharjah. The UAE home finance provider's new branch is conveniently located in the Crystal Plaza Building at the Buheira Corniche.
Gold is top tip for 2006
Gold is the place to invest in 2006, according to the AME Info review of investment opportunities for the year ahead (see Financial Planning). The article concludes that investors for 2006 face a zero sum game with gold as their least bad option.
Emirates Bank, win at GV
Emirates Bank is running a "scratch and win" promotion at Global Village where visitors exchanging Dh1000 or more at the bank's onsite branch have the chance to win prizes including Philips Electronics' products and air tickets to Europe. Emirates Bank has nine ATM's as well as a branch on location.
Gold loses ground
Gold fell more than $7 an ounce to $515 on Wednesday after the US Federal Reserve raised interest rates. Gold has now fallen more than 5% since hitting $540.90 an ounce on 12 December, its highest point in nearly 25 years. Other precious metals also declined, with platinum and silver falling to their lowest levels in two weeks.
BNP aims for regional $10bn
BNP Paribas Private Banking is boosting its activities in the Middle East in an effort to double funds under management here to $10bn within three years. The bank has opened branches in Jeddah and Al Khobar and recruited 16 more relationship managers. BNP wants to be a one-stop financial advisor for both local and global investments, said regional head Serge Janowski.
ADIH, euro property fund
Abu Dhabi Investment House is set to launch a 134m euro German property fund in 2006, CE Rashad Janahi told Gulf News. He says the German market is undervalued and the fund, being euro-based, would be an attractive diversification for investors. The company is also eyeing furter investment opportunities in the Far East and regionally.
AFS Smart Alert Card SMS
Arab Financial Service has placed its Smart Alert Card SMS service with Arab Bank. The system will allow the bank to send a wide range of messaging alerts such as authorisations and fraud alerts, customer service, billing, and payment and marketing.
Shamil real estate fund
Bahrain-based Shamil Bank will next year introduce two funds worth close to $150m for real estate and private equity investments in Asia, reported Reuters. The bank has plans for a China real estate fund worth $100m, and a private equity fund out of Singapore worth $50m.
$150m Gulf Springs realty fund
Subject to Bahrain Monetary Agency approval, Unicorn Investment Bank has announced the launch of Gulf Springs, a new $150m real estate fund in partnership with Abu Dhabi Holding Company. It will partner with real estate companies in Saudi Arabia, the UAE, Bahrain, Oman, Kuwait and Qatar and these firms will also be founding investors.
StanChart, 2.22% current account
Standard Chartered UAE has launched a current account paying a 2.22% interest rate called the Maximiser. The account still includes a cheque book, ATM/debit card, Net banking and phone banking. Most UAE banks still impose a minimum balance on current accounts and pay no interest and even charge for ATM cards.
ADIB, Islamic Covered Card
The Abu Dhabi Islamic Bank has launched its free Islamic Covered Card with no profit charged until the end of December. The payment card allows spending of up to three times salary, Islamic insurance coverage and the chance to win Umrah vouchers.
MasterCard, GCC OneSmart Club
MasterCard International has launched its GCC OneSmart Club to help banks and other financial industry players active in the GCC market to develop new payment products and services using the latest EMV chip infrastructure through the deployment of added-value chip business propositions. The GCC OneSmart Club will initially focus on five such propositions: off-line payment environments; a higher level of security for online shopping and remote banking; personal data storage; enhanced interactions at the point of sale; and the PayPass contactless payment solution.
It looks like you are using a Mac - check out our 
Web Feeds