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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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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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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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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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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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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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 …
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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, …
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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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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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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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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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UAE telco du is steadfast on 5G rollouts – and dividends
Apart from 5G, data hubs could soon start providing more strength to du numbers The UAE as a global trade, tourist, and banking powerhouse was significantly hit by pandemic-induced market factors.
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Arab Bank Group reports 61% growth in net profits and 20% cash dividends
Arab Bank Group closed 2021 reporting net income after tax of $314.5 million as compared to $195.3 million in 2020, recording a growth of 61%. Group equity grew to reach $10.3 billion. The Board of …
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Israel president on first visit to UAE amid regional tensions
The nations normalized relations in the fall of 2020, part of a series of U.S.-brokered diplomatic deals between Israel and Arab states.
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Somalia Regional Court Slaps Further Restrictions on ‘UAE Money’
The Banadir regional court today issued further restrictions on $9.6 million seized by security forces… Sii akhri …
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UAE growth set to accelerate in 2022
FocusEconomics panelists forecast the UAE GDP to expand 4.5 per cent in 2022, which is up 0.1 percentage points from December 2021 forecast, and 3.7 per cent in …
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