Gulf World Bank

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  Binance Gets Its First Gulf Crypto Licence in Bahrain

  Binance, the world’s biggest crypto exchange, has been given a crypto-asset service provider licence by Bahrain's central bank, its first such licence in the Gulf Cooperation Council (GCC), the company and the bank said on Tuesday.

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  UAE Plans To Launch Digital Currency Within Five Years

  The United Arab Emirates will launch its first digital currency by 2026, the central bank of the oil-rich Gulf state, which serves as the region's financial hub, said Monday.

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  Qatar Asks US To Investigate UAE Bank For 'Financial Warfare'

  Qatar has asked US regulators to investigate the US subsidiary of the largest bank in the United Arab Emirates, accusing it of "bogus" foreign exchange deals designed to harm its economy as part of a blockade by Gulf neighbours.

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  Remittances To India To Decline By 5 Per Cent In 2016: World Bank

  India, the world's largest remittance recipient in 2015, may receive a remittance of USD 65.5 billion this year, a drop of 5 percent, the World Bank has said in a new report citing weak economic growth in remittances-source countries and cyclic low oil prices.

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  'Social Curse' Of Huge Personal Debt Raises Worries In Wealthy Qatar

  Credit cards on the limit, huge bank borrowings and a struggle to repay loans: these are the personal debt problems of some Qataris despite the Gulf state's reputation for fabulous wealth.

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  Qatar Vast Gas Reserves 'To Last 138 Years': Report

  Qatar's gas reserves are so vast it can maintain production at current rates for another 138 years, according to an official report published today.

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  At OPEC, Some Sow Seeds of Solar Energy Race in Gulf

  To hear the oil ministers of Saudi Arabia and Kuwait talk about it this week, the race to develop massive solar power arrays in the world's sunniest nations is nearly as important as the current battle for oil market share.

• Bank Guarantee Must to Bring Indian Maids to Kuwait

  To safeguard the welfare of its nationals, India has made it mandatory for employers in Kuwait to submit a bank guarantee of USD 2,500 before bringing a female domestic help to the Gulf nation.

• John Kerry wins Arab backing on Mideast peace effort

  US Secretary of State John Kerry said yesterday that his intense diplomacy in six visits to the Middle East was bearing fruit, narrowing gaps between Israel and the Palestinians.

• Sheikh Hamad, emir who made Qatar world player

  Qatar's emir, Sheikh Hamad bin Khalifa al-Thani, who hand over to his son today after 18 years on the throne, turned the tiny Gulf state from a desert backwater into a major world player.

• Chidambaram to embark on tour to Canada, Japan, Gulf next month to woo investors

  Finance Minister P Chidambaram is likely to embark on a foreign tour next month covering Canada, Japan and the Gulf region to woo overseas investors.

• Hinduja Group eyes Africa for business expansion

  Global business conglomerate Hinduja group is planning to significantly expand presence in Africa in areas ranging from transport, infrastructure and coal, and would look to partner governments of various African countries for its new businesses in the region.

• World Bank chief bats for Pranab on changes in tax laws

  World Bank president Robert Zoellick said that investors must give some time to the government to explain the GAAR details.

• Saudi orders freezing billionaire's accounts: Report

  Saudi Arabia has ordered the country's banks to freeze the accounts of businessman and one of the world's richest person Maan al-Sanea.