Dubai First, in association with MasterCard Worldwide, has launched its Dubai First MasterCard credit card. The new card, which is offered in both 'classic' and 'gold', offers a cash back feature, with cardholders able to earn up to 4% for every purchase at retail locations in the UAE and abroad. The card also includes the 'Tap & Go' MasterCard PayPass feature, offering 'contactless' payments at selected locations on transactions below Dhs100.
Gold hit a one week high yesterday, Friday, rising from its overnight position of $795.3 an ounce to peak at $812.2 before falling back a little to a shade over $811, reported Reuters. The yellow metal's ascent was helped by a weaker dollar and stronger oil prices as well as speculation that gold producer AngloGold Ashanti could partly close its hedge book.
The Saudi Home Loans (SHL) Company, a new mortgage provider, has been established in Saudi Arabia. The firm's headquarters can be found on King Abdul Aziz Road in Riyadh but the SHL will operate out of branches of the Arab National Bank (ANB) for its first of operation before opening offices across the kingdom. The ANB has a 40% stake in the closed joint stock firm.
The Chairman of the Kuwaiti Banks' Union Abdulmajeed Al Shatti has said local lenders have held talks with the Central Bank of Kuwait regarding the issue of the government buying off consumer loans to help alleviate the debts of citizens, reported the KUNA. The matter was discussed earlier this month at the National Assembly where protests were staged by crowds of Kuwaiti citizens demanding government assistance.
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