Tag: finance

As the entity responsible for the legislative aspects of the tax system in the United Arab Emirates, and committed to its role in raising tax awareness, The Ministry of Finance held a briefing this morning at its headquarters in Abu Dhabi, to define in …
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Asset growth at UAE commercial banks will accelerate in 2018, underpinned by stronger economic activity, according to a new forecast by BMI Research. According to BMI, the sector will remain broadly stable throughout the year, with continued growth in …
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The UAE has completed all legislative requirements to ensure that the implementation of its tax system is the best globally. The Ministry of Finance has also authorised the issuance of tax-related legislation and policies, as well as the establishment of …
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In a note to investors on its website, ADNOC noted that the IPO “creates a new platform and route for further value creation.” “This important and strategic offering represents a unique opportunity for investors to own a stake in the UAE’s number …
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Dubai: The Pakistan government will soon make it mandatory for all expatriates from the country to open bank accounts back home to be able to send remittances, an official has said. The move will curb illegal transfers and money laundering. “The Pakistan …
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Dubai: State-owned energy giant Abu Dhabi National Oil Co (Adnoc … Adnoc is listing 10 per cent of its fuel distribution business, pricing its initial public offering (IPO) at Dh2.50 at the mid-range price, according the company. According to the …
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The UAE government said it’s “surprised and disappointed” to be included on a European Union list of non-compliant tax jurisdictions, according to Undersecretary of Finance Yousef Haji Al-Khouri. The UAE government said it’s “surprised and …
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“Providing a seamless customer experience and secure banking environment are the two key challenges facing financial institutions today,” says Som. Growth in e-commerce comes as digital becomes the future in the UAE. Mobile phone penetration is now at …
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First reason is the growth of Islamic banking. A recent survey from Emirates Islamic Bank showed that about 52 per cent of UAE consumers have an Islamic banking product now, compared to 47 per cent consumers in 2015. “The results of this year’s Islamic …
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UAE wealth managers said a move by the European Union to include the Emirates in a black list of 17 global tax havens is not credible and likely to have a negligible effect on the banking industry which has in recent years intensified efforts to clamp down …
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Mashreq Bank, the UAE’s leading financial institution, announced the joining of Arif Usmani as the Group Head of its Risk Management. A graduate of the Imperial College of London, Usmani started his banking career in 1981 and spent more than three …
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The UAE Cabinet is expected to issue a decision to identify the government bodies and non-profit organisations that are not subject to VAT. The below table outlines all supplies that will be subject to the 5% Value Added Tax, as well as zero-rated supplies …
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The governments of the UAE and Bahrain did not respond to Reuters requests for comment on Wednesday. A banking industry consultant, who declined to be named, said the EU was concerned about some of the UAE’s many free trade zones, which attract foreign …
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The UAE Central Bank’s reserve of gold bars amounted to Dh1.129 billion ($307.3 million) by the end of October 2017, a growth of 11.2 per cent from Dh1.015 billion by the end of 2016. The month of April 2017 saw the Central Bank resuming gold holdings …
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Adnoc Distribution said last month it plans to open its first petrol stations in Dubai and Saudi Arabia next year as it positions itself for growth following its planned IPO on the Abu Dhabi Securities Exchange this month. “We intend to leverage the …
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Last month’s market debut of Dubai real estate firm Emaar Development was weak, and the stock has now dropped to 5.56 dirhams from the IPO price of 6.03 dirhams. The IPO raised $1.3 billion for Emaar Properties. Abu Dhabi’s main share index was flat on …
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The UAE embracing digital adoption faster than West in all areas of life including financial services, according to a recent HSBC research. HSBC’s new global research report, Trust in Technology, which includes research from over 12,000 people in 11 …
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