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DUBAI: Gulf banks offering expensive remittance services risk being disrupted by new entrants doing the same job for a fraction of the cost, a seminar heard on Sunday. “We live in a region where with the exception of Saudi Arabia more than 80 percent of the population is made up of expats. These folks send $100 billion back home every year and the cost of sending that money is ....
DUBAI: Bitcoin mining uses as much electricity as the entire UAE, S&P estimates. The huge amount of electricity needed to mine cryptocurrencies will likely exclude them from investors that need to comply with ESG guidelines, the ratings agency said. It comes as the sector attracts increased attention from investors and regulators after a year of rampant volatility. “Among the ....
S&P Global Ratings expects the overall banking growth in Malaysia to be mainly driven by Islamic banks which have been growing at a robust pace in the past decade ....