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Tag: banking

Posted on 01/02/2022

Dubai Islamic Bank joins Etisalat Digital’s Blockchain platform “UAE Trade Connect”

Dubai Islamic Bank has announced today that it has become an official member bank of UAE Trade Connect (UTC). Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE and the second-largest …
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Posted on 01/02/2022

UAE Finance Ministry to introduce federal corporate tax on business profits

Abu Dhabi, Feb. 1 (BNA): The Ministry of Finance has announced that the UAE will introduce a federal corporate tax on business profits that will be effective for financial years starting on or after …
( read original story …)


Posted on 01/02/2022

New UAE corporate tax: Top 10 questions answered

The UAE’s Ministry of Finance on Monday announced a federal corporate tax on business profits from June 1, 2023. Below are the top ten queries raised by businesses in the country: All activities …
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Posted on 01/02/2022

Mashreq Bank is latest UAE bank to confirm a Dh1b profit for 2021

Mashreq has become the latest UAE bank to report a Dh1 billion or plus profit for 2021, and providing more proof of a return to form for the sector. In Mashreq’s case, the Dh1 billion profit …
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Posted on 31/01/2022

Manyavar-owner Vedant Fashions IPO: What GMP signals as issue opens for subscription this week

Vedant Fashions Ltd, which owns ethnic wear brand Manyavar, will launch its ₹ 3,149-crore initial public offering (IPO) this week on Friday, February 4, 2022. The price band has been fixed at ₹ …
( read original story …)


Posted on 31/01/2022

Manyavar-owner Vedant Fashion’s IPO opens on 4 February, here’s all you need to know

Vedant Fashion, the owner of ethnic wear brand Manyavar, will launch its Initial Public Offering (IPO) on 4 February. The subscription period of the issue is set to end on 8 February. The Rs 3,149 …
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Posted on 31/01/2022

UAE to impose federal corporate tax for the first time

The United Arab Emirates announced Monday it is introducing for the first time a federal The UAE — home to Abu Dhabi, Dubai and five other emirates — has been steadily introducing new taxes as it …
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Posted on 31/01/2022

UAE bank ADCB quarterly net profit up 44%, beats forecasts

Abu Dhabi Commercial Bank , UAE’s third-biggest lender, beat expectations with a 44% rise in fourth-quarter net profit, boosted by higher net fee and commission income on cards and loans.
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Posted on 31/01/2022

Citigroup Is Hiring Across Gulf, Awaits Another Record IPO Year

Citigroup Inc. is boosting its presence in the Gulf region as it expects activity including initial public offerings to reach a new historic high.Most Read from BloombergAn Army of Faceless Suits Is …
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Posted on 31/01/2022

UAE announces new tax to go into effect next year

Businesses will become subject to UAE corporate tax from the beginning of their first financial year that starts on or after June 1, 2023. The UAE corporate tax regime has been designed to incorporate …
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Posted on 31/01/2022

UAE to introduce new tax on business profits, effective from next year

With a standard statutory tax rate of 9 percent and a 0 percent tax rate for taxable profits up to Dhs375,000 to support small businesses and startups, the UAE corporate tax regime will be amongst the …
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Posted on 31/01/2022

UAE to introduce federal corporate tax from June 2023

The UAE will introduce a federal corporate tax on the profit of businesses from the financial year starting on or after June 1, 2023, the Ministry of Finance said on Monday. A standard statutory tax …
( read original story …)


Posted on 31/01/2022

UAE introduces federal tax on business profits on or after June 2023: Statement

The UAE’s Ministry of Finance announces the introduction of a federal tax on business profits to be applied to fiscal years starting on or after June 1, …
( read original story …)


Posted on 31/01/2022

Here’s how the new UAE labour law will effect annual leave, holidays

As the country’s new labour law goes into effect on February, some ambiguities remain amid the wait for executive regulation clarification Here’s how the new UAE labour law will effect annual leave, …
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Posted on 31/01/2022

UAE exports to top AED1 trillion by 2030: report

The UAE will be a key driver of the global trade growth this decade, with its exports projected to grow at an average annual rate of more than 6 per cent to cross AED1.1 trillion ($299 billion) by …
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Posted on 31/01/2022

UAE’s biggest bank FAB is riding the perfect storm of growth

FAB, the UAE’s largest publicly traded bank, is set to seize such opportunities. The bank, which has a market cap of Dh225 billion, reached a historic milestone when its total assets surpassed Dh1 …
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Posted on 31/01/2022

Citigroup hiring in Dubai, Saudi Arabia, awaits another record IPO year

The Middle East saw a boom in IPOs last year, with Abu Dhabi joining the rush as governments in the region seek to diversify their economies away from oil and reinvigorate their capital markets …
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