UAE banks ready for challenges

The UAE banking sector's performance will see a stabilisation as the economy also does so with the recovery in crude prices and strong capitalisation of financial institutions, according to industry analysts. "We think that 2018 will be marked by a ... ( read original story ...)

Dubai developer says planning unit IPO in H2 2018

Union Properties has announced its intention to raise capital through an initial public offering (IPO) of the shares of ServeU, its facilities management subsidiary, in the second half of 2018. The company said it will list the ServeU shares on Dubai ... ( read original story ...)

Taxe-free no more: Saudi Arabia, UAE to roll out VAT in 2018

DUBAI, United Arab Emirates — Saudi Arabia and the United Arab Emirates, which have long lured foreign workers with the promise of a tax-free lifestyle, plan to impose a 5 per cent tax next year on most goods and services to boost revenue after oil ... ( read original story ...)

Dubai reinforces its position in global economy

Dubai was able to achieve growth rates that exceeded that of developed economies despite the decline in oil prices. Growth in 2016 was supported by growth in key economic sectors, such as manufacturing, transport and storage, real estate, finance and ... ( read original story ...)

Holidays keep trading dull in UAE stocks

Dubai: The Dubai Financial Market (DFM) witnessed another subdued session on Sunday as lack of activity ahead of year-end holidays kept traders on the sidelines. The DFM closed 0.48 per cent down at 3,348.81 on Sunday. Khaleeji Commercial Bank, which saw ... ( read original story ...)

UAE pay rises ‘in region of 3%’ next year – expert

Average basic salary rises in the UAE are set to be in the region of 3 percent next year, according to global remuneration expert Robert Mosley. He predicted the pay increases despite an uncertain economic climate in the UAE with the imminent launch of ... ( read original story ...)