The new exemptions are part of the UAE’s efforts to facilitate business operations, reducing compliance issues, and foster a strong corporate tax framework across all sectors UAE announces three new …
UAE announces rules on tax grouping and interest capping
The decision further clarifies the conditions under which UAE resident entities that are 95 per cent or more commonly owned can form or join a tax group and be treated as a single entity The UAE …
Central Bank of the UAE and Hong Kong Monetary Authority strengthen financial cooperation
In addition, the two central banks facilitated discussions between their respective innovation hubs on joint fintech development initiatives and knowledge sharing efforts …
UAE’s FTA announces new tax rules to come into immediate effect on June 1
The UAE Federal Tax Authority (FTA) has announced that it will be implementing Cabinet Decision No. (7) of 2023, which amends certain provisions of Cabinet Decision No. (65) of 2020 on Fees for …
UPDATE 1-First Abu Dhabi Bank set to raise $500 million with green bonds -document
DUBAI, May 30 (Reuters) – First Abu Dhabi Bank is expected to raise $500 million from an offering of five-year green bonds, a bank document showed on Tuesday. Guidance was tightened 20 basis points …
Saudi poised to join UAE in BRICS bank
The Kingdom of Saudi Arabia is reportedly engaged in talks with the New Development Bank (NDB), or “BRICS bank”, news and media outlets reported Tuesday.Saudi Arabia would be the bank’s ninth member, …
Saudi retailer United Electronics considers consumer finance IPO
Saudi Arabia’s United Electronics Company, owner of retailer eXtra, said on Tuesday it was evaluating strategic options for its consumer finance business, including a possible initial public offering.
Dubai Financial Market launches futures on its general index DFMGI
“This is in line with our concerted efforts to bring innovative products to market to increase retail and institutional investor participation while increasing the depth and breadth of the market.” …
UAE’s Tabreed to acquire cooling infrastructure in Indian IT park
The National Central Cooling Company, better known as Tabreed, is investing Dh44.34 million ($12.1 million) in an information technology park in northern India amid its global expansion efforts.
Dubai records over $735mln in realty transactions Monday
DUBAI: Dubai real estate market recorded 593 sales transactions worth AED1.86 billion, in addition to 122 mortgage deals of AED 595.16 million, and 26 gift deals amounting to AED247.18 million on …
Dubai Financial Market launches futures contract
DFMGI futures are DFM’s latest innovative offering to internationalise Dubai’s financial markets and promote market liquidity and depth. They allow investors to make gains when the index falls and …
Dubai bourse launches futures contract on general index
Dubai’s stock exchange said futures contract will help investors effectively hedge against market volatility and make profitable trades.
UAE banks’ Q1 profit surges 35%: Alvarez & Marsal
Incremental deposit growth outstripped credit growth for the first time since Q1’22 amidst monetary tightening …
First-quarter profit of UAE’s top 10 banks up 35% on lower impairments
The combined net profit of the UAE’s 10 largest banks rose by 35 per cent on a quarterly basis in the first three months of the year due to enhanced cost efficiencies and lower impairment charges, …
Dubai Financial Market Launches Futures Contract on the General Index (DFMGI)
The Dubai Financial Market (DFM) today announced the offering of futures contracts on its General Index (DFMGI), which includes the most liquid and larg …
The importance on accounting automation in UAE’s corporate tax era
Businesses must assess their finance technology stack to check if the tools can effectively manage the new processes required and if the systems in place integrate efficiently to allow for seamless au …
Saudi retailer United Electronics plans IPO of consumer finance unit – sources
Saudi retailer United Electronics is planning an initial public offering of its Islamic consumer finance business, Tasheel Finance, two sources familiar with the matter told Reuters.