Personal Finance

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DailyFX Currency Update

Quick cash from Dubai First
Dubai First has ventured into the personal financing segment with 'Quick Cash', offering a mechanism where post-dated cheques are used rather than salary transfers. It processes requests by discharging money to any bank account across the UAE, within the shortest possible turnaround time.
United Arab Emirates: Sunday, March 02 - 2008 at 09:23

Gold goes higher
Gold went up above $975 on Friday, as speculative buying on the back of record high oil and a lifetime low dollar against the euro continue, reported Reuters. Gold set a record for the third straight day, and has risen 16% this year on the top of a 32% rise in 2007. Meanwhile, silver went near $20 an ounce, jumping to a 27-year peak.
Middle East: Saturday, March 01 - 2008 at 09:57

Gold hits $967
Gold futures surged to their highest level ever on Wednesday after the dollar plunged to a record low, reported Reuters. Gold for April delivery jumped to a new all-time record of $967.70 an ounce on the New York Mercantile Exchange, before pulling back to settle at $961, still up $12.10.
Thursday, February 28 - 2008 at 12:58

Banks to offer custody services
National Bank of Abu Dhabi and the Abu Dhabi Securities Market have signed a custody agreement to be the first national bank providing these services to investors, reported Khaleej Times. Both institutions are working to finalise the necessary procedures to launch these services to all segments of investors.
United Arab Emirates: Thursday, February 28 - 2008 at 08:40

Gold bounces back
Gold soared above $955 an ounce on Wednesday, its highest price ever, after oil hit a record above $101 a barrel and the U.S. dollar tumbled against other currencies, reported Reuters.Silver alsos hit a 27-year high and palladium jumped to its best level in more than six years.
Wednesday, February 27 - 2008 at 08:18

Gold prices fall
Gold prices continued their fall on Tuesday after the U.S. Treasury said it would support gold sales by the International Monetary Fund, which holds more than 3,000 tonnes of bullion, reported Reuters. The Treasury had resisted seeking congressional approval for the gold sales until the move was tied to an IMF cost cutting plan, and has enough votes in the Fund to block any sales. Gold fell to $934.00/934.80 an ounce from $937.80/938.60 an ounce late in New York on Monday.
Tuesday, February 26 - 2008 at 08:19

Cost of living causes discontent
The rising cost of living has been a major source of discontent among employees working in the GCC, according to a survey sponsored by Bayt.com and YouGovSiraj. The survey showed 37% consider leaving their current jobs to look elsewhere that offer better opportunity, as cost of living outstripped wage increases. The survey polled 15,000 employees in six GCC countries, covering 20 industry sectors, which included automotive, finance, advertising, information technology and pharmaceuticals.
United Arab Emirates: Monday, February 25 - 2008 at 10:18

Morgan Stanley names best markets to invest
A new report by Morgan Stanley finds that Kuwait, Abu Dhabi and Qatar are the best markets in which to invest in the Gulf, reported Reuters. Meanwhile banks and telecom companies were rated the most attractive industries in which to invest. The lender recommends stocks such as Dubai's Arabtec Holding, Dubai Islamic Bank and First Gulf Bank.
Sunday, February 24 - 2008 at 13:37