UBS to charge accounts exceeding €1m
UBS Group is extending charges on cash holdings to more of its customers, becoming the latest bank to pass on the euro region’s negative interest rates. Starting in May, the world’s largest wealth manager will introduce an annual fee of 0.6 per cent on accounts with cash holdings exceeding €1 million (Dh3.9m), the bank said.
0.4%
FGB announced the latest score of its Wealth Sentiment Index on Wednesday, which has increased from 1020.52 to 1,024.61 in March, up 0.4 per cent from the previous month. Launched in January, in partnership with Ipsos, the index measures the prevailing mood of affluent investors in the UAE market, from a personal and business point of view. The Ipsos head of research Odisseas Trikaliotis said: “The March index score reflects a positive outlook on the economy and confidence which stems from stable crude oil prices, an increase in the non-oil Purchasing Managers’ Index, the inflow of tourists to the country and an overall increase across global stock markets.”
ADIB launches bespoke digital branch
Abu Dhabi Islamic Bank (ADIB) has launched ADIB Express, a digitally-enabled branch that combines digital banking with on-site relationship managers. The first branch is located in Dubai’s The Ranches Souk. Customers can book express appointments online.
The Fed can hike three times this year. Maybe they can hike more. That means the economy’s good
Park Sungjin head of principal investment at Mirae Asset Securities
Compareit4me launches health insurance platform
Compareit4me.com launched the UAE’s first comparison portal for health insurance this week. It allows residents to compare and buy policies online. The launch ties in with Dubai’s deadline of March 31 for sponsors to provide health cover for those registered on their visa.
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