India clarifies income tax rule for NRIs

Dubai: The Government of India has clarified that Indian expatriates have to provide their foreign bank account details only if they do not have a bank account in India when they apply for income tax refunds. The government’s official statement issued on ... ( read original story ...)

Usman Dar claims Asif ‘hid’ UAE employment

He said that at first Prime Minister Nawaz Sharif proved to be chairman of the FZE Dubai Company as per the JIT report and now Khawaja Asif contract has come before the nation. He said that the Iqama and offshore bank accounts of all candidates of the PML ... ( read original story ...)

Lulu Exchange acquires Al Falah Exchange

Promoth Manghat, the chief executive of UAE Exchange - the biggest foreign exchange network in the Emirates and the GCC - said he expected more consolidation in the industry to follow. This, he said, follows new Central Bank regulations on capital ... ( read original story ...)

Traders Think Hedge Funds Are Missing a Trick With Oil

Hedge funds are still holding large bearish bets against oil and ... is priced at $4.45 a barrel under the benchmark Dubai, the strongest pricing since the country started exporting it in June 2015. In the world of sweet crude, differentials for certain ... ( read original story ...)

UAE credit demand rises ‘slightly’ – central bank

Demand for business credit and personal loans in the UAE rose slightly in the second quarter of 2017 and is expected to continue to increase slowly in the current quarter, according to the central bank. The latest Credit Sentiment Survey from the UAE ... ( read original story ...)