Oman is expected to roll out personal income tax, making it the first country in the GCC to do so, some time next year.
What FinTechs and financial services corporates can learn about the future of finance from the Global Financial Centres Index
In recent years, the Covid-19 pandemic has caused unprecedented economic disruption across industries, and the financial services community is no exception. In this environment, a trusted barometer of …
What FinTechs and financial services corporates can learn about the future of finance from the Global Financial Centres Index
In recent years, the Covid-19 pandemic has caused unprecedented economic disruption across industries, and the financial services community is no exception. In this environment, a trusted barometer of …
UAE and Indonesia Strengthen Ties with Payment Systems MoU
The Central Bank of UAE and Bank Indonesia signed an MoU to enhance bilateral cooperation on payment systems, aiming for faster, transparent, and affordable cross-border payments. This initiative …
EXCLUSIVE: UAE denies approving $10k bank balance, N640k fee as visa application requirements
The DVN costs a non-refundable N640,000 excluding VAT for each application. This does not include the visa fee. In addition to obtaining a UAE visa, Nigerians are required to provide proof of a …
UAE visa changes; Dubai floods; new tax introduced; outstanding schools revealed; real estate booming – 10 major stories so far this year
with the exception of foreign banks licensed to operate in the Dubai International Financial Centre (DIFC). According to the law, foreign banks are subject to a 20 per cent tax on their annual taxable …
Dubai offices see surge in pre-commitment as Indian, Chinese European firms expand to UAE
The office sector in Dubai’s real estate market is experiencing a significant uptick in pre-commitments for the first time as UAE has emerged as a preferred destination for corporates to expand their …
Bank Muscat announces $291.44 million in profit in the first half of 2024
Dubai: Bank Muscat, Oman’s leading financial institution, announces its preliminary unaudited results for the first half of 2024, revealing a net profit of $291 million (Dh1 billion), compared to the …
UAE: Ministry of Finance introduces federal entities to Public-Private Partnership Manual for Projects, Execution
The Ministry of Finance (MoF) has organised a workshop to launch the Public-Private Partnership (PPP) Manual for Projects and Execution, at the Waldorf Astoria Hotel in Dubai International Financial …
UAE signs $817m currency swap agreement with Ethiopia
The UAE Central Bank has partnered with the National Bank of Ethiopia to establish a bilateral currency swap agreement, aimed at enhancing financial and commercial co-operation between the two …
UAE, Ethiopia sign currency swap agreement with value of up to $817 million
DUBAI, July 16 (Reuters) – The central banks of the United Arab Emirates (UAE) and Ethiopia on Tuesday signed a bilateral currency swap agreement with a value of up to 3 billion dirhams ($816.79 …
Abu Dhabi National Hotels taps banks for catering unit’s IPO – Bloomberg
Abu Dhabi National Hotels (ADNH) has reportedly tapped banks for a planned initial public offering (IPO) of its catering unit amidst a flurry of share sales in the UAE capital.
Multibagger SME IPO: IT company’s shares up 150% from IPO price; do you own?
Quicktouch Technologies is an information technology company. Its IPO was launched in April 2023. The counter has more than doubled investors money from the IPO price. On Tuesday, it zoomed 10 per …
Hedge Fund Segantii Has Returned More Than 90% of Client Money
Segantii Capital Management Ltd. has returned more than 90% of its client capital, according to people familiar with the matter, less than two months after the hedge-fund firm told investors that it …
Central Bank of UAE’s gold holdings, balance sheet reach over USD5.54B
The UAE Central bank reported a substantial increase of approximately 12 percent in its gold holdings over a span of four months, reaching over 20 billion dirhams (approximately USD5.45 billion) by …
Dubai Islamic Bank makes dreams come true: Four lucky winners take home one year’s salary
Dubai, UAE – In a heartwarming conclusion to its ‘XTRA Salary Transfer Campaign’, Dubai Islamic Bank (DIB) has helped uplift the lives of four of its customers by awarding them each a year’s salary, …
UAE banking sector transfers exceed AED6 trillion Jan-Apr 2024
The value of transfers executed in the UAE banking sector through the UAE Funds Transfer System (UAEFTS) hit around AED6.12 trillion in the first four months of 2024, according to the latest …