In Dubai’s biggest bank – Emirates NBD has announced to invest AED500 million ($136 million) for the digital innovation and multi-channel transformation of its processes, products and services. The investment will take place over a span of next three years to support UAE’s ‘Smart City’ vision. This step is a benchmark in the Dubai’s digital transformation and shows that in the coming years, Emirates NBD will rise as a prominent leader in global digital banking industry. The bank also plans to launch the UAE’s first digital bank targeted at millennials to offer customers the next
In a successful attempt to establish peaceful and improve trade relations between India and Morocco, a chamber of commerce was launched in Rabat, capital of Morocco on 31st May 2016. The India–Morocco Chamber of Commerce and Industry (IMCCI) was introduced by Vice President of India Hamid Ansari and Moroccan Prime Minister Abdelilah Benkirane. Esteemed members and officials from both the countries were present at the event. The motto of this launch was ““Shake hands, strengthen ties, go with IMCCI” which clearly reflected the need of a mutually beneficial commercial relationship betwee
Afghanistan has won formal approval to join the World Trade Organisation in a move the U.S.-backed government hopes will help lift its war-shattered economy and create jobs in one of the world’s poorest countries. Afghanistan has till June 30 to ratify the agreement, the final step before becoming a full member of the organisation that underpins the global system of international trade. According to a speech given by Afghanistan’s Deputy Chief Executive Mohammad Khan Rahmani in Nairobi, he stated that the trade-led growth will create new economic opportunities and jobs, especially for wom
With the historic agreement made between Iran and the P5+1 countries in Vienna on 14 July 2015, Iran will hopefully transform into a peaceful State to live in, and the rest of the world will breathe easy without the nuclear power threat from Iran. This pact officially brings the end of the economic sanctions on Iran after demonstrating a peaceful nuclear research project that meets International Atomic Energy Agency (IAEA) standards. Iran has assured that it does not seek nuclear arms but demands the ability to enrich uranium to make nuclear fuel for energy-producing reactors and medical appli
With a promise of million dollar investment in India, United Arab Emirates, the business capital of the world is all set to plant its investment seeds in one of the fastest growing economies of the world Indian Prime Minister, Narendra Modi’s two day visit to the UAE captivated the well-heeled Emirates to commit an investment target of $75 billion. As professed by Modi’s political stage last year, he is definitely not leaving any stone unturned which can help India emerge as an economical powerhouse with assured development across sectors. Strengthening the Indo-UAE bond Both the nations
The Syrian war started in 2011 when antigovernment demonstrations – part of the Arab Spring – turned violent and a fight broke between the rebels and the regime. More than 11 million people have been displaced because of the war, as Syrians have been fleeing in thousands every day to escape bombing and being killed. However, it took the world four years to take a shocking note of the refugee crisis, when the lifeless body of Alan Kurdi – the three-year-old Syrian boy – was found on the Turkish shore of the Mediterranean Sea. The war is getting worse and deadlier day-by-day, with Douma
Under pressure from International Monetary Fund (IMF), Greece and other European Union countries trying to resolve Greece’s debt crisis agreed in Brussels on July 13 on new austerity measures to solve the staring problem. The Greek debt crisis started in late 2009 when Greek announced that its budget deficit would be 12.9 per cent of GDP, more than four times the EU’s three per cent limit. The crisis had started much earlier in 2001 as Greece adopted the Euro as its currency. Similar to other Eurozone countries, Greece benefited as interest rates became lower, and investment capital and lo
BRICS, the group of emerging economies, has come up with the New Development Bank (NDB) in Shanghai. Backed by Brazil, Russia, India, China and South Africa – together known as BRICS countries, the bank aims at lending money to the developing countries, which are seeking financial support in infrastructure development projects. The bank is seen as an alternative to the World Bank and the International Monetary Fund, although the group claims to be a non-rival.
South Korea’s quarterly growth slowed more than expected. It is considered the lowest in more than two years with consumption battered by an outbreak of Middle East Respiratory Syndrome. Asia’s fourth-largest economy has recorded a mere 0.3 per cent growth in the last quarter. According to the bank, the private consumption turned sour as spending on services took a dip as an outcome of a severe-drought-hit agriculture. South Korea relies heavily on export and tourism, and has faced poor demand as well as sluggish consumption due to MERS breakdown, which resulted in enormous travel cancell
IMAX has filed an application with the Hong Kong Stock Exchange (HKEx) for an initial public offering (IPO) of its China unit in Hong Kong (IMAX China Holding), as it plans to participate in the world’s fastest growing movie markets. Imax made about 30% profit last year through its China unit, which is not surprising as since 2012 it has nearly doubled its number of theatres in the Greater China region. Currently, IMAX has 239 theatres in China, Hong Kong and Taiwan, and it plans to build 219 more theatres in China itself. China is a critical growth market for IMAX, and if plans go well it w