by Vasu Jit Kalia | August 7, 2024 | Banking, Retail Banking
Nuvama Private, the Private Banking arm of Nuvama Group, one of India’s largest, listed and institutionally backed Wealth Management firms, announced the launch of its operations to serve the Middle East through its office in the Dubai International Financial Centre...
by Vasu Jit Kalia | August 6, 2024 | Banking, Central Banks
The value of gold reserves held by the Central Bank of the UAE (CBUAE) reached AED20.619 billion by the end of May 2024, marking a year-on-year (YoY) growth of 19.7 percent from AED17.219 billion in May 2023. The apex bank, in its Monthly Statistical Bulletin –...
by Jennifer George | August 6, 2024 | Banking, Breaking, Central Banks, News
The National Bank of Ras Al Khaimah has reported its financial results for the first half of 2024. RAKBANK delivered a record net profit after tax of AED 1.1 billion, with a year-on-year growth of 21% driven by diversified growth in the balance sheet, continued sales...
by Jennifer George | August 2, 2024 | Banking, Central Banks, News
On Thursday, Andrew Bailey, governor of the Bank of England, announced interest rate cuts in the UK from 5.25% to 5%.The UK’ss interest rate trim marks the first notable change in the nation’s monetary policy since the pandemic in 2020. The UK’s...
by Vasu Jit Kalia | August 1, 2024 | Banking, Central Banks
ABU DHABI, 31st July, 2024 (WAM) — The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) at 5.40 percent. This decision was taken following the US Federal Reserve’s announcement today to keep...
by Jennifer George | August 1, 2024 | Banking, Central Banks, News, Trending Now
As July comes to a close, the Bank of Japan (BOJ) raises its benchmark interest rate to approximately 0.25%, a notable hike from the previous rates that fluctuated between 0 and 0.1%. This landmark interest rate hike serves as the highest jump in rates since October...
