Consider Investing in Dubai – 3
By Saghir Aslam
Rawalpindi, Pakistan

(The following information is provided solely to educate the Muslim community about investing and financial planning. It is hoped that the Ummah will benefit from this effort through greater financial empowerment, enabling the community to live in security and dignity and fulfill their religious and moral obligations towards charitable activities)
Remember the Golden rules of investing you must do your own research. Do your homework thoroughly and completely for investing.
Continued....
What are your views on recent developments in Indo-UAE relations and its impact banking?
Indo-UAE relations have always been healthy and friendly but recent upsurge of effort in strengthening it further, has given a new dimension to this alliance. Definitely, it is going to strengthen the mutual trade between both countries and banking being the reflection of economy is certainly going to be amply benefitted from this stronger bonding.
What are the various initiative that Bank of Baroda is having in the Pipeline to further strengthen its position in the UAE?
We are committed to provide best class service to our customers. On 110th foundation day of our bank, we have launched three innovative products viz. Baroda Happiness Twin Account, Rapid funds to India thorough ATMs and Internet Banking and Baroda Premium Current Account. Baroda Happiness twin account is a unique offering for Salaried class, Rapid Funds to India is latest remittance products through which our customers can send money to Indi 24/7 using our ATMs and internet Banking also. Baroda Premium Current Account is an interest earning current account for corporate/HNIs. We are also enriching our mobile Banking internet Banking and other technology products.
How do you see the Growth of the Banking industry in next five years?
The UAE banking has matured by passing through various economic business cycles during last one decade. I see consistent growth in business, however I would not prefer to give any numbers as in today’s economic period is seen as a long term. But will be in line with the GDP growth of the country.
How Bank of Baroda is going to simplify banking for a common customer with the help of technology?
Technology has become the biggest enabler in providing convenient,24/7, banking at customer’s door step. Through innovative products, strong e-channels like mobile banking and simplified processes, we are offering comprehensive banking solutions to our customers.

Here’s one tough Budget smartphone in the UAE
They were able to propel itself to the top of the game in India’s mobile phone sector. Now they want to bring that momentum to the UA E. The Gurgaon Haryana -head- quartered company-in a move akin to HMD Global’s revival of the Nokia 3310-unveiled the 2017 version of the canvas 2 in Dubai on Wednesday, as it seeks to carve its own niche in the highly competitive smartphone market. Micromax is no stranger to the UAE, having made its foray into the country in 2010.Ditto for its original Canvas 2 was well received in the country. The company hopes that with the new iteration if the phones, it will be able to achieve the success it has experienced on its own turf. The Mena is an important market for the company and they forecast the region to contribute a “large chunk” to its international business in the next two years. Aside from its home market, Micromax is currently present in Nepal, Bangladesh, Sri Lanka, Russia and the Mena. ‘We’ve been very successful…. and now we’re thinking of how we’ll be able to take it to the net level”
The company has a vision of becoming one of the top five mobility brands in the world. ” We are working very hard to build a new strong and deeply-penetrated distribution network in the region that will help capture a significant market share,’’ Sandeep Saighal from Micromax Partner channel said. The new Canvas 2 comes with Corning Gorilla Glass 5, the first smartphone to offer this technology for the mass telecom consumer. It offers protection for drops for up to 1.6 metres, offering up to four times more durability. The company was pleased to be partnering with Micromax to bring its” Superior drop Performance” to the UAE market. The new Canvas 2 also has a five-inch HD screen, a 1.3GHz quad -core processor,3GB of RAM, 16 GB of storage that is expandable with up to a 64GB microSD card,13MP and 5MP cameras, fingerprint recognition and a battery that can last up to 11 hours. It will be available across the Mena from July 22 for Dh 499.

High Provisions hit CBI’s net profit in first half
Higher provisions hit Commercial Bank International’s (CBI). The lender’s Q2 profit remained flat at Dh32 million as compared to same period last year.Net interest income increased 10 percent to Dh263 million from 240 million in HI 2016 while operating income grew two percent to Dh 405 million from Dh397 million. ‘’CBI’S financial position is strong, including robust liquidity as the Bank continues to reduce non-core assets and optimize its balance sheet”.
(Saghir A. Aslam only explains strategies and formulas that he has been using. He is merely providing information, and NO ADVICE is given. Mr Aslam does not endorse or recommend any broker, brokerage firm, or any investment at all, nor does he suggest that anyone will earn a profit when or if they purchase stocks, bonds or any other investments. All stocks or investment vehicles mentioned are for illustrative purposes only. Mr Aslam is not an attorney, accountant, real estate broker, stockbroker, investment advisor, or certified financial planner. Mr Aslam does not have anything for sale.)

 

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Editor: Akhtar M. Faruqui
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