DIB launches Panin Dubai Syariah Bank in Indonesia

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has launched Panin Dubai Syariah Bank in Indonesia, following its acquisition of 40 per cent shares in PT Bank Panin Syariah Tbk. DIB had acquired around 25 per cent shares of Bank Panin ... ( read original story ...)

UAE to exempt new residential property from VAT

... property including sales and leasing in the UAE will be exempt from value added tax (VAT), according to the UAE’s finance ministry. In a VAT briefing session for advisors last week, the ministry also confirmed that there will be one exception ... ( read original story ...)

Dubai Investments manufacturing assets grow to Dh3.05 billion

Dubai Investments, the leading, diversified investment company listed on the Dubai Financial Market, has achieved consistent growth in its manufacturing business with total assets in the sector increasing to Dh3.05 billion, constituting 19 per cent of the ... ( read original story ...)

What are the key points of planned VAT in UAE?

The UAE Ministry of Finance (MoF) hosted a value added tax (VAT) briefing session for advisors recently. The session aimed to send a clear message to the market, which is that VAT is coming and businesses must begin to prepare immediately, said a ... ( read original story ...)

Amazon buys Mideast's Souq.com after $800M counteroffer

On Monday, Emaar Malls PJSC made public its $800-million bid for Souq.com in a filing on the Dubai Financial Market. The short filing, signed by Emaar Malls vice chairman Ahmad Thani al-Matrooshi, said the bid was made "in line with the strategy to align e ... ( read original story ...)

Dubai Chamber briefing sheds light on UAE bankruptcy law

As part of its continued efforts to boost mutual communication between the government and the private sector, the briefing was attended by HE Younis Haji Al Khouri, Undersecretary of the UAE Ministry of Finance, who met with members of the local business ... ( read original story ...)

Trading begins in ENBD Reit shares following $105 million IPO

Hamed Ali, Chief Executive of Nasdaq Dubai, said the Reit's successful listing demonstrates ... UAE Limited were joint global coordinators and joint bookrunners for the IPO. Associate Business Editor of Khaleej Times, is a well-connected Indian journalist ... ( read original story ...)

Emaar Malls' $800 million bid for Souq.com to challenge Amazon

DUBAI Dubai's Emaar Malls, operator of glitzy Middle East shopping centers, has made an $800 million offer for regional online retailer Souq.com [IPO-SOUQ.DU], setting up a potential bidding war with Amazon.com. Emaar Malls’ bid has so far not been ... ( read original story ...)

Emirates Global Aluminium mandates US banks for IPO: sources

EGA was created in 2013 when state-owned companies Dubai Aluminium (Dubal) and Abu Dhabi's Emirates Aluminium (Emal) merged. Its enterprise value was put at $15 billion at the time of the merger. It is owned by Abu Dhabi state fund Mubadala Investment Co ... ( read original story ...)