Mashreq Bank celebrated its 50th anniversary in 2017. It’s the UAE’s oldest bank, and has been innovating throughout its history, achieving a number of notable firsts in expanding financial services in the country. Head of Retail Banking Subroto Som …
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Saudi builder says unit IPO set to conclude by end-2018
The Saudi Arabian developer’s plan to offer shares comes on the heels of the United Arab Emirates’ biggest IPO last year, when Dubai-based Emaar Properties raised about $1.3 billion from the sale of a stake in its UAE real-estate unit. Dar Al Arkan …
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Marseilia Group and Amlak Finance Sign a Memorandum of Understanding to Develop an Urban Project in Nasr City, Cairo
Marseilia Group today announced the signing of a Memorandum of Understanding (MoU) with the UAE-based Amlak Finance PJSC to develop an urban project in Nasr City District, Cairo. The MoU is under the sponsorship of National bank of Egypt (Dubai Internation …
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UAE issues first VAT inclusive purchase order
The UAE’s Ministry of Finance (MoF) on Tuesday issued the first VAT inclusive purchase order, and approved the first VAT invoice on its federal financial system. The milestone for the UAE’s tax system follows the launch of value added tax on January 1.
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UAE Finance Ministry approves first VAT invoice
UAE: The Ministry of Finance today issued the first VAT inclusive purchase order, and approved the first VAT invoice on its federal financial system, becoming the first federal entity to implement tax procedures and issue a tax invoice in 2018. The …
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UAE: Amlak Finance declare its housing project completion
(MENAFN) UAE-baded Amlak Finance declared its first fully-owned housing project in Mirdif to have been concluded. Amlak Finance managing director and CEO Arif Alharmi announced “we are pleased to announce the completion of the Amlak’s first fully-owned …
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Trakhees Makes It Easier for Its Customers by Integrating With Dubai Islamic Bank
Following the government trend in adopting smart technological transformations using advanced technologies to lessen the number of physical applicants and Customer Visits, Department of Planning and Development – Trakhees, the Regulatory arm of Ports …
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Gulf Navigation announces plans to raise $122m through IPO
The IPO is expected to be launched in the first quarter of 2018 … Subscribe to Arabian Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
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Saudi construction giant plans IPO to sell 30% of subsidiary
Saudi builder Dar Al Arkan Real Estate Development Company has announced plans to sell 30 percent of a subsidiary in an initial public offering (IPO). The company said in … expand to global markets, selecting Dubai as the launchpad with an AED800 million …
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UAE Ministry of Finance Approves First Purchase Invoice With VAT
Following its commitment to the UAE’s various government finance procedures, laws and regulations; the Ministry of Finance (MoF) has today issued the first VAT inclusive purchase order, and approved the first VAT invoice on its federal financial system.
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Mashreq Bank Receives Nine Awards From Global Finance in London
Mashreq Bank, the UAE’s leading financial institution was presented with nine awards at the Digital Bank Conference and Awards dinner hosted by Global Finance magazine in London, England. The dinner hosted at the RSA House in London saw Mashreq win …
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UAE bourses start new year on a strong note
Emaar Properties and Dubai Islamic Bank helped the Dubai index push higher by more than 1 per cent on the first trading day of 2018 after the index shed more than 4 per cent last year amid sluggish volumes. The Dubai Financial Market General Index closed 1 …
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UAE Ministry of Finance Announces the Readiness of the Federal Financial System to Implement Value Added Tax
The Ministry of Finance (MoF) has announced that the Federal Financial System has been updated and is ready to manage all financial transactions related to the value added tax (VAT). This confirms MoF’s commitment to managing and developing the …
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Real salaries in the UAE set to drop in 2018
Real wages are expected to fall in the UAE this year as inflation is set to exceed salary rises, according to the Hay Group. A forecast issued by the Hay Group division of Korn Ferry said that in the UAE, inflation of 4.6 percent combined with pay …
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UAE MoF announces readiness of Federal Financial System to implement VAT
This confirms MoF’s commitment to managing and developing the government financial systems in order to facilitate the federal entities’ transactions. All federal entities linked to the Federal Financial System are able to perform various VAT-related …
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Dubai billionaire to take on Amazon and his extreme work ethic for his staff
A DUBAI billionaire is vowing to take on Amazon with his emerging e-commerce empire — and to get to the top he has some extreme working conditions for his staff. Mohamed Alabbar, 60, a real-estate tycoon, wanted to create a viable competitor to US tech …
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Will UAE banks increase their fees due to VAT? Find out
The UAE Central Bank has asked local banks not to increase the existing fees for customers due to upcoming Value-Added Tax (VAT). “Banks and finance companies will not be permitted to exceed the fees structure for individual customers because of VAT …
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