Finance World

The Central Bank of the United Arab Emirates announced that it will introduce into circulation, on Tuesday 30/10/2018, a currency note of AED One Hundred (AED100) denomination, reprinted with new security features, all on the front side of the   note as follows:

Commodities remained exposed to broad-based selling this past week. For a third consecutive week, the sector struggled to put up a defence against the challenging combination of rising US interest rates, a strong dollar and the global equity rout, which has now spread to the US market.

Blueground, the hospitality-tech company that is transforming the experience of big city living, has announced that it has completed a new funding of US$12 million (approximately AED44 million) from a group of renowned global investors, including Dubai-based Jabbar Internet Group, VentureFriends, and Endeavor Catalyst. The latest investment marks the fourth and largest round of funding for Blueground, bringing the total investment from global investors in Blueground to nearly $20 million (approximately AED73.5 million).

Arab Bank Group reported net income after tax for the nine month period ended 30 September 2018 of $643 million compared to $601 million in the prior period, recording a growth of 7%. The Group’s net income before tax grew by 8% to reach $865 million with net operating income reaching $ 988 million and recording a growth of 9%.

SWIFT has today published a blueprint for common API standards following collaboration with European banking standards bodies, STET and Berlin Group NextGenPSD2 – who together represent many of the region’s banks and payment service providers.