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Bank association wants mortgage restrictions eased

Dubai: The UAE’s main banking industry group has asked the central bank to ease restrictions on mortgage lending it introduced in a recent circular.

The Emirates Banks Association is suggesting a 75 per cent loan-to-value cap on borrowing for expatriates and an 80 per cent cap for Emiratis after taking a survey of members, it said in an emailed

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RBS fined $615m for rate rigging

London: Britain’s Royal Bank of Scotland will pay US and British authorities $615 million (Dh2.26 billion) and plead guilty to wire fraud in Japan to settle allegations it manipulated global benchmark interest rates.

“The RBS board acknowledges that there were serious shortcomings in our systems and controls and also in the integrity o

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Emirates to fly non-stop to Polish capital

Warsaw: Emirates has extended its presence in eastern Europe by starting a daily non stop flight to the Polish capital Warsaw. The carrier’s first flight landed at 10.20 am local (Poland) time on Wednesday, making Warsaw its 129th international destination.

With the UAE already the single-largest Middle Eastern trading partner in

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GCC Railway Authority may be established by 2014

Dubai: The Gulf states will decide by the end of the year policies on customs and immigration for expatriates living in the Gulf and commuting via the planned GCC Railway, a World Bank official involved with the process told Gulf News.

They are currently considering immigration policies on how expatriates can travel from one Gulf country to

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Samsung registers 214% growth in Gulf sales

Dubai: Samsung Electronics witnessed another record quarter for its telecommunications business in the Gulf.

The biggest smartphone manufacturer recorded a 214 per cent increase year-on-year in mobile-device sales for 2012 due to Galaxy S3, Note 2 and comprehensive portfolio of mid-range mobiles and media tablets.

In the UAE

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Abatera Tours is an expert destination management company that covers all aspects of inbound tourism business including FIT Travel, Leisure groups and Meetings, Incentives, Conferences & Events (MICE)...

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