UAE imposes heavy taxes on tobacco and fizzy drinks

DUBAI: The UAE Ministry of Finance has announced a selective tax of 100 percent on tobacco and energy drinks and 50 percent on carbonated beverages on Tuesday. It was announced in a tweet of UAE Ministry of Finance after the meeting of the board directors ... ( read original story ...)

Leejam Sports to file for 1b riyal IPO

Leejam, established in 2007 by vice-chairman Abdul Mohsen Al Haqbani, operates 120 locations across Saudi Arabia and Dubai under the brand name Fitness Time, according to its website. The company plans to formally apply for an IPO with the stock market ... ( read original story ...)

The coming revolution in banking

A paradigm shift is under way in the UAE’s financial sector as technology evolves and customers live in an increasingly connected world. When the dust settles, the banking landscape will look a lot different over the next three years than it does today. ( read original story ...)

Successful IPO Of An Offshore Driller

I discuss industry implication of ADES IPO. This article was written on a request by a reader who noticed that an offshore drilling company which originally came from Egypt and is now based in Dubai, ADES International Holding, had a successful IPO in ... ( read original story ...)

Cathay announces job cuts after posting financial losses

Dubai: An Asian airline that serves the UAE market is implementing ... followed after the company announced that it had incurred some $74 million (Dh271 million) in financial losses for 2016, the first since the global recession. “We have had to make ... ( read original story ...)

Och-Ziff: Wall Street’s fallen star

"Och-Ziff, one of the largest hedge funds, positioned itself to profit from ... a handful of longtime investors are sticking with the firm. A unit of Dubai's sovereign investment fund retains a 16% stake, and mutual fund giant T. Rowe Price has bought ... ( read original story ...)