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Tuesday 5 - 1 - 2016


 05/01/2016

Meed

The country’s central bank has asked lenders to maintain permissible limit in various ratios which reflect the health of the banking system It is an understatement to say that the UAE banks are feeling the pinch at the start of 2016. The country’s central bank has ramped up pressure, asking lenders to maintain permissible limits in various ratios such as eligible liquid asset ratio, the advances to stable resources ratio and loan to deposit ratio – indicators of a bank’s financial health.

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Gulf Today

ABU DHABI: The Ministry of Economy has announced that the UAE managed to achieve top ranks in international trade statistics 2015, which was released by the World Trade Organisation. According to the report, the UAE maintained its top ranks on the World trade map and came 16th globally in commodity exports, and 20th globally in commodity imports. In the area of service trade, the UAE ranked 19th globally as service importer, and 42nd globally in service exports.

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The National

In this article I will outline the important financial themes that I see for the GCC for this year. It starts with oil, which is at about US$38 per barrel. Estimates for the break-even price for shale oil production vary, but the consensus appears to be at least $60. Examining these two pieces of information, it becomes hard to understand the crowd who believe that Saudi Arabia is trying to crush shale oil. The oil price is about $19 below where it needs to be to achieve this objective. For Saudi Arabia, which pumps 10 million barrels of oil per day, that is about $200m a day of unnecessary loss in this scenario, or an unnecessary loss of $73 billion a year.

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Khaleej Times

Innovation has become the key for banking to offer customers an enriching experience. GCC banks have leveraged on technology to provide such unique experiences. This has resulted in tremendous growth in the adoption of technology by the GCC banking and financial services sector. However, the growth is intrinsically linked with major concerns and threats of cyber security. Cyber security is a collective concern that is comprehensive in scope - the Internet has no national boundaries. Social networking has become a playground for criminal minds due to its ability to store big amount of private data. Cloud computing has also become an ideal target because of its reliability and scalability.

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Gulf News

Dubai: Any economic consequences of the political fallout between Iran and the GCC nations are likely to hurt Iran more, a leading UAE economic expert says. Saudi Arabia on Sunday severed diplomatic ties with Iran following an attack on the Saudi embassy in Tehran. The UAE on Monday downgraded its diplomatic representation to a charge d’affaires and ordered Iran to reduce the number of its diplomats in the UAE.

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Page last updated : 02/05/2016 10:08 PM