| It’s a bear stampede in UAE bourses | | Bears took control of UAE capital markets on Sunday as shares on the country’s two bourses fell the most in almost a week on civil war concerns in Syria, with analysts also calling it a correction and profit-taking after nearly a 50 per cent surge in the Dubai index. | | NBAD sukuk income fund delivers 4.01% dividend | | The National Bank of Abu Dhabi’s (NBAD) Sukuk Income Fund will pay to its investors a semi-annual distribution equal to 1.98 per cent of the unit NAV, of $5.3286 being the NAV as at May 30, 2013. | | Boss of bailed-out RBS to step down | | Britain’s state-rescued Royal Bank of Scotland said Wednesday that chief executive Stephen Hester has decided to step down after five years at the helm, during which he has overseen a vast restructuring in readiness for the group’s eventual privatisation. | | Ministry of Finance and Central Bank sign deal | | The Ministry of Finance and the Central Bank of the UAE signed memorandum of understanding, or MoU, on Tuesday, in implementation of the Council of Ministers’ resolution which authorises the Ministry to compile and exchange tax information regarding the fulfillment of requirements of the OECD Global Forum for transparency and exchange of information relating to bilateral agreements on double taxation. | | Citibank pulls out of Eibor panel | | Citibank will no longer be part of the panel of the Emirates Interbank Offered Rate, or Eibor, the group that fixes the interest rates charged by lenders for interbank transactions. | |
