Digital bank Mashreq Neo unveiled in the UAE

Mashreq Neo is targeted towards the connected generation who are digitally savvy, use mobile devices extensively, and will immerse users in a brilliant digital experience. “With the launch of Mashreq Neo, we have entered a new era in the digitisation of ... ( read original story ...)

UAE ‘sin tax’ comes into effect today

The UAE’s Excise Tax came into effect today, doubling the price of tobacco and increasing the price of soft drinks by 50 percent. Soft drink prices will increase from AED1.50 to AED2.25 while the price of a pack of 20 cigarettes will double from AED8 to ... ( read original story ...)

SoftBank plots deals to build $300bn asset-management arm

The investment manager oversaw $148.5 billion in private equity holdings, credit assets, real estate and hedge funds as of June 30 ... receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox. ( read original story ...)

UAE issues new regulation on federal tax procedures

The UAE Ministry of Finance has released the executive regulation of Federal Decree-Law No (7) of 2017 on tax procedures, thus taking the VAT system in the country one step forward. The published regulations cover, among other things, the responsibilities ... ( read original story ...)

Dubai saw double digit growth in tourist numbers in H1

The number of tourists visiting Dubai increased 10.9 percent during the first half of 2017. Abu Dhabi and Ras al-Khaimah recorded a 7.2 percent and 6.5 percent growth, respectively, according to the Central Bank of the UAE. The banking authority ... ( read original story ...)

Saudi entertainment authority says hit by cyber attack

The GEA was set up last year as part of the Vision 2030 reform program to provide entertainment options for Saudis, who are accustomed to traveling abroad to see shows and visit amusement parks in nearby Dubai and ... our... Hedge funds look past the ... ( read original story ...)

Privatisation in MENA set to drive IPO activity in 2018 – EY

Investor sentiment has improved and the global outlook is more positive, which should reflect on the IPO market in the MENA region.” Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and ... ( read original story ...)

Foreign workers in the UAE remit over $21bn in H1

The total value of remittances by foreign workers in the UAE reached AED78 billion ($21.2 billion) during the first half of 2017, according to central bank figures. The UAE Central Bank announced that remittances totalled AED40.8 billion during the second ... ( read original story ...)