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All Finance

Dec02

UAE displaces Singapore as worlds most powerful passport

By: Arab News Source: Arab News JEDDAH: Holders of the United Arab Emirates (UAE) passport can travel to 167 countries without the need for pre-visa requirements, dislodging Germany’s as the most powerful passport worldwide, an online ranking site said on Saturday. A UAE passport holder can also obtain visas from 54 countries upon arrival, said the Passport Index in its December 2018 report. Only 31 countries require visas for the UAE passport holder, it added. The UAE government hailed the new Passport Index ranking as an “exceptional achievement “, which coincides with the ‘Year of Zayed’ and country’s 47th National Day. The UAE passport’s rank this year was a big...

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Nov26

Al Hilal Islamic bank uses blockchain to sell sukuk

By: Reuters Source: Reuters DUBAI: Abu Dhabi’s Al Hilal Bank has executed the world’s first sukuk transaction using blockchain technology, it said on Monday. The Islamic bank used the distributed ledger technology, best known as the underpinning of crypto-currency Bitcoin, to sell and settle in the secondary market a small portion of its $500 million five-year sukuk, issued in September. “Al Hilal Bank is aiming to transform the sukuk market through embracing blockchain and integrating it into their infrastructure, paving the way for innovative digitized Islamic sukuk,” it said. A bank spokeswoman said the size of the deal was $1 million, sold by Al Hilal to a private investor. Applied to...

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Oct21

Emerging economies turning to gold as financial system crash expected

By: RT Source: RT Countries around the world are turning to gold as uncertainty about the global economy rises. Trade wars and the aggressive policies of the United States are making emerging economies withdraw from dollar assets, analysts told RT. In the near future we can witness a big change in the rules of the game. At the beginning of the year, developing countries were the first to feel investor panic. If a crisis in Latin America and South Asia doesn’t surprise anybody, now is the time to worry about the largest economies of the world,” Mikhail Mashchenko, an analyst at the social network for investors eToro in Russia and CIS told RT. “The aggressive US policy in recent years has...

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