Have you set up your company in line with the new UAE economic substance rules? If you have not yet, do it now – because if the looming deadline passes, which is today – June 30, be prepared to pay a …
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COVID-19: UAE banking sector could see more job cuts this year
The banking sector in the UAE is facing a lot of pressure due to the unprecedented compression in net interest margins, slowdown in the economic activity, low oil prices and wo …
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Long-term UAE residents recall Haj Saeed Lootah’s humility, generosity
Haj Saeed was a self-made businessman who progressed from being a seafarer and trader to a businessman and visionary community leader.
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UAE- Sheikh Mohamed pays tribute to Haj Saeed Lootah
His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has paid tribute to Emirati businessman Haj Saeed bin Ahmed Al Lootah, …
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UAE- Will AI revolutionise the banking and legal sector?
Of all the digital technologies that are driving change in businesses, Artificial Intelligence (AI) is perhaps the most disruptive of all and has taken over the globe by storm. Currently, AI based …
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How Global Venture’s Noor Sweid Is Changing the World
Sweid’s VC fund backs founders of innovative and disruptive companies tackling issues from health care inclusion to financial equity.The post How Global Venture’s Noor Sweid Is Changing the World …
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Jailed Brit Owes $430M Before Release, Dubai Bank Says
A British businessman must repay $430 million to an Emirates lender before he can be released from his decade in a Dubai prison, the bank said as it dismissed his claims that a restructuring agreement …
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Mideast Stocks: Banks hold back Saudi as Qatar, Dubai extend losses
Saudi Arabian stocks ended lower on Monday, hurt by losses in banking shares, while the indexes in Qatar and Dubai extended their retreat to a straight fourth day. Saudi Arabia’s benchmark index …
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Saudi ACWA Power to hit $10 bln target of new 2020 investments despite virus
Saudi power plant developer and operator ACWA Power expects to achieve its target of more than $10 billion in new investments this year, as the coronavirus pandemic had “minimal impact” on its …
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Dubai OFW in limbo over unpaid bank loan
Failure to meet credit card obligations is among the leading problems besetting overseas Filipino workers in the United Arab Emirates …
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Founder of first Islamic bank Saeed Lootah dies at 97
The businessman founded Dubai Islamic Bank and co-founded S.S.Lootah Contracting Company with his brother Sultan …
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UAE investors prefer to stick with caution for now
UAE also has said that it will be allowing flights to the country after some conditions are met. This can help airline shares rally in the near term as they seem to have already discounted the worst.
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McLaren arranges $185 million financing facility with Bahraini bank
British supercar manufacturer McLaren Group, which includes the Formula One team, has arranged a 150 million pound ($185.2 million) financing facility with the National Bank of Bahrain (NBB) , the …
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Saudi ACWA Power to hit $10bln target of new 2020 investments despite virus
The company is still committed to a planned initial public offering, although execution will depend on the right timing and market conditions: Chief Executive …
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Ajman Department of Finance signs agreement with Al Ansari Exchange to facilitate government fee payment services at its centers
Our agreement with them is a significant leap in the efficiency of government services as it simplifies payment methods,” H.E. added.
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Nasdaq Dubai welcomes listing of $1.5bln sukuk to support Covid-19 initiatives
according to a joint statement issued by Nasdaq Dubai and IsDB. The sukuk is the second to be issued under IsDB’s Sustainable Finance Framework, following its debut Green Sukuk last year and is the …
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Saudi raises $2.27bln in Islamic bonds – finance ministry
Saudi Arabia has raised 8.495 billion riyals ($2.27 billion) in Islamic bonds or sukuk, in June, the finance ministry said on Sunday. According to a statement on the finance ministry website, the …
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