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Last Updated: Thu, Oct 23 2014 | 7:59 AM |

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StanChart to drop UAE SMEs with annual sales of less than $10m

Standard Chartered is planning to close the bank accounts of thousands of small companies in UAE which have annual revenues of less than $10 million and which have been deemed as “non-strategic businesses...

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Posted by: Pankaj Shah Oct 21, 2014 7:20 PM [UAE]

The UAE Central Bank needs to step in & take note of this totally unprofessional conduct on the part of Standard Chartered. What is really shocking is that the Bank closed a customer's account without any warning. What happens if his cheque bounces as a result . Does he go to jail ?

Mr. Al Ghurair, Chairman of UAE Banks' Federation was reported in this column saying that UAE was not ready to Decriminalise bounced cheques. What happens in a case like this where the customer is not at fault but the bank is? Will the bank pay a penalty for sending a customer to jail ? The UAE authorities & Mr. Al Ghurair need to take this matter REALLY SERIOUSLY and tackle the lacunae in the laws that favour big banks and put SMEs & individuals at a distinct disadvantage.

They also need to address the issue of Credit Card interest rates bordering on Usury. What is really difficult to understand is why in a Muslim Country such exploitative practices ( up to 30% interest ) is tolerated. Unfair !

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Saudi Arabia steps up beheadings; some see political message

Immediately after his sword falls, the Saudi Arabian executioner steps backwards to avoid soiling his clothes with the blood of the condemned man, whose headless body can be seen slumping over backwards...

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Posted by: Be Realistic Oct 21, 2014 7:19 PM [UAE]

Heyy Muslim Brother of mine, who you think you are to set somebodies destiny to death? Is it you that gave his/her life to him/her so you have the power to take it as you please?

Only Allah (s.a.s) is creating and only Allah (s.a.s) should be taking a life!

No religion is accepting killing a living human being for accusation or as punishment. That is the same with murder!

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Saudi Arabia hits back at 'worst airports' claim

Saudi Arabia’s aviation authority has criticised an online global survey that ranked Jeddah airport as the second worst in the world.General Authority of Civil Aviation (GACA) spokesman Khalid Al Khaibari...

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Posted by: WhatAJoke Oct 21, 2014 4:09 PM [UAE]

I think the right approach is to jail the jealous people who published this.

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World’s fastest ambulance unveiled in Dubai

Dubbed the fastest ambulance on earth, the refitted Lotus Evora is the latest chapter in Dubai’s Smart Government program.The sports car turned ambulance allows paramedics to travel at speeds of up to...

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Posted by: Assaad Oct 21, 2014 4:08 PM [Lebanon]

There is no one place like Dubai, there is no one like Sheikh Mohammed )))) May God keeps him well not for his own people only but for the entire world. Well Done team Dubai (i.e. Dubai Government) ))) Always glad to hear about you guys ))

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Saudi airports rated worst in the Middle East

Saudi Arabian airports have been ranked the worst in the Middle East in an online survey.Three Saudi airports were included in the top five worst in the region, compiled by readers of the Canadian website...

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Posted by: John Sandwick Oct 21, 2014 4:08 PM [Switzerland]

If you think Jeddah airport is bad now, imagine ten years ago. Yes, Jeddah still has just about the worst airport in the world, a blight on Saudi Arabia's reputation, but thankfully it seems someone is finally in charge who is making it better in small but important increments. All of us are anxiously waiting the opening of the new airport. It can't come soon enough.

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What's the point?

A study by Japan’s Kitasato University recently looked at the slipperiness of banana peel skins and why people slip on them. The supposedly intelligent academics measured the friction of banana peels compared...

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Posted by: Firas Oct 21, 2014 1:45 PM [Kuwait]

Excellent article,i read a study today that attractive women are more likely to be interviewed...

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Sarah asks: How to do my own marketing?

Hi Sarah, Try the following: - Social media (Facebook, Twitter, Instagram, etc.) - you can customise your target audience and spend only based on impressions. - Word of mouth - tell as many people in your...

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Posted by: Arnab Oct 21, 2014 1:45 PM [UAE]

That's definitely good advice, Badr. Indeed, the best way to start marketing yourself is to start with the age-old, never-out-of-fashion method of spreading the word within one's own circle first. Despite the advancement in media technology, word-of-mouth marketing still does wonders.

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No Islamic New Year holiday for UAE gov't workers

Employees working for federal authorities in the UAE will receive no paid holiday for the occasion of the Islamic New Year later this week, it was announced on Monday.Hussain bin Ibrahim Al Hammadi, Minister...

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Posted by: Shaista Ahmed Oct 21, 2014 1:44 PM [UAE]

Although 1st January 2015 doesn't, but I understand this will be the case with any Januray 1st which falls on a weekend. Right?

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Saudi Arabia's August oil exports fall to lowest in three years

Saudi crude exports fell in August for the fourth month in a row to their lowest levels in three years, official data showed on Monday, as the top oil exporter fights for market share amid weak demand...

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Posted by: khdmohd - energy Consultant Oct 21, 2014 9:12 AM [UAE]

Dear all it is normal that crude exports in KSA to be low during the hottest months of the year as it is more economical to use crude in power stations rather than diesel .

The saving in local demand are huge when compared to crude sales plus power shortages or diesel costs + usages .

The test is in this coming winter months when demand in local KSA is three times less than summer months .... wait and see ..

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Saudi's NCB to convert to Islamic bank after pressure from scholars

Saudi Arabia's biggest bank has responded to criticism of its operations from Islamic scholars by pledging to convert itself into a full-fledged Islamic bank within about five years.The decision, made...

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Posted by: Abdukaziz Ali Oct 21, 2014 9:09 AM [UAE]



Religious figures should not dictate the course of business or economic decision, today's world is enormously complicated to be fully understood by them.

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