Strong banking sector to support credit growth

Dubai: Kuwait’s banking sector is well regulated and has remained sound and credit conditions favorable amid challenging economic conditions. In the first half of 2017, credit to the private sector recorded healthy average growth, after taking a hit in ... ( read original story ...)

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 ...)