Banks

Standard Chartered UAE – We Love to Entertain you

(Dubai, 20/10/2014) In August 2014 already, the “so much to UAE committed” foreign bank Standard Chartered announced to exit parts of its SME business in the federation. In the beginning of this month, the mass mails went to delivery. Our recommendation to Corporate and Private Customers at that time was to close their accounts before […]

New Compliance Regime in DMCC – Unreasonably

(Dubai, 30/08/2014) Since June/July this year, licensees of Dubai’s DMCC start to rub their eyes when it comes to their annual license renewal. Out of the blue, the Free Zone Authority hands out a “DMCC Inspection Form” to its clients. Since its establishment in 2002, the former Duplex Free Zone DMCC (Dubai Multi Commodities Centre) […]

RISE by Emirates NBD – Truth and Reality

(Dubai, 13/04/2014) With effect 01/05/2014, Emirates NBD massively increases the required Minimum Balances for its Business Banking Clients. Emirates NBD, one of UAE's leading local banks frequently creates massive attention with its Marketing Campaigns, like: RISE – The Power of Small to shape the Future ("Celebrating the Spirit of Entrepeneurship") TRUTH . . . and […]

Cheques in UAE – More Care with Payments from UAE Nationals

(Dubai, 06/11/2012) Bounced cheques, issued by UAE nationals, are falling no longer under criminal law! It is well known that bounced cheques – mainly returned due to insufficient funds – may lead in the United Arab Emirates to a criminal case, up to jail terms to be served. Last year, 1.5 million cheques used for […]

Guernsey, Jersey & Isle of Man to strike FATCA deals with US

(Dubai, 11/10/2012) The governments of Guernsey, Jersey and the Isle of Man have simultaneously announced that they are seeking to negotiate partnership agreements with the United States to implement the Foreign Account Tax Compliance Act (FATCA). The intention is that the three British Crown Dependencies will negotiate their own individual agreements which will follow the […]

NBAD and ENBD roll out to China

(Hong Kong, 2012-10-11) Two of the UAE's largest banks are leading an expansion drive into China as trade between the two countries continues its rapid growth. The National Bank of Abu Dhabi (NBAD) and Emirates NBD have both launched their first representative offices in China. NBAD, which has the largest international presence among all UAE […]

Remittance Volume from UAE to China surges

(30/08/2012, Dubai) Money sent home by Chinese companies from the Middle East surged seven-fold in the first six months of the year, underscoring the deepening relationship between the UAE and the world's second-largest economy. The data came from Industrial and Commercial Bank of China (ICBC) Middle East, as its profits doubled in the region. The […]

Santander Bank eyes MidEast opportunities

(01/08/2012, Dubai) Santander, one of the world's biggest banking groups, is in talks to bring its financial services to the Middle East. Investment Corporation of Dubai (ICD) said it has signed a memorandum of understanding with the Spanish banking giant "to explore potential areas of cooperation to jointly offer world class financial services in the […]

Gulf Wealth seeks Haven from Euro Debt Crisis

Abu Dhabi, 25/11/2011 – Wealthy Gulf savers are fleeing euro-denominated investments as the European sovereign debt crisis deepens, bankers say. Gulf investors are increasingly parking their savings in havens such as US treasury bills, Swiss francs and Abu Dhabi bonds as the single currency flounders. The number of high net-worth customers requesting advice on moving […]

China Vice-Premier sees chronic Global Recession

Wang warns a slowdown is certain and urges banks to be more flexible in lending to small firms.Beijing: A long-term global recession is certain to happen and China must focus on domestic problems, Chinese Vice-Premier Wang Qishan has said. "The one thing that we can be certain of, among all the uncertainties, is that the […]

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\r\n (Dubai, 20/10/2014) In August 2014 already, the “so much to UAE committed” foreign bank Standard Chartered announced to exit parts of its SME business in the federat...
\r\n (Dubai & Berlin, 30/09/2014) The increasing “European-ization” of all areas will now also make no longer halt before inheritance. At least, once international ba...
\r\n (Dubai, 04/09/2014) This week the World Economic Forum (WEF) published the results of its annual Global Competitiveness Report (GCR) 2014-2015 with impressive rankings for the U...
\r\n (Dubai, 30/08/2014) Since June/July this year, licensees of Dubai’s DMCC start to rub their eyes when it comes to their annual license renewal. Out of the blue, the Free Z...
\r\n (Dubai, 08/08/2014) MCI offers actually several Shelf Companies, aged between 2yrs, 10mths and 6yrs, 1mth - as per August 2014.\r\n\r\n\r\n\r\n \r\n \r\n \r\n DESCRIPTION\r\n \r\n \r\n ...
\r\n (Hong Kong, 2014-07-27) This month, the first revision of Shanghai Free Trade Zone’s (FTZ) Negative List took place.\r\n\r\n\r\n\r\n Shanghai Free Trade Zone (FTZ) was launched in...
\r\n (Dubai, 14/07/2014) The UAE Ministry of Labour (MOL) has announced that it will stop the usage of the old plastic labour cards & paper contracts starting from July 13, 2014....
\r\n (Hong Kong, 25-06-2014) We found a very interesting BBC documentary about China's debt policy and situation from February 2014, critical as well (of course). But watch yours...
\r\n (Dubai, 13/04/2014) With effect 01/05/2014, Emirates NBD massively increases the required Minimum Balances for its Business Banking Clients.\r\n\r\n\r\n\r\n Emirates NBD, one of UAE'...
\r\n (Dubai, 26/03/2014) Finally, Virtual Currency (VC) Tax Rules - including the most popular, Bitcoin - came to the US on March 25! Several insiders predicted that the government w...

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