The UAE’s Ministry of Finance has said the introduction of value added tax will have only a “small impact” on society, amid cost of living concerns from some residents. A survey released on Monday showed nearly have of UAE residents were concerned …
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Dubai’s Drake says UAE bank debt restructuring completed
Dubai-based contracting giant Drake & Scull International (DSI) has announced that it has successfully completed the restructuring of its corporate general bank debt in the UAE. The company said in a statement that it has also secured new credit lines and …
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UAE central bank says enough coins in circulation amid overcharging concerns
The UAE’s Central Bank has said the country has sufficient small coins in circulation following concerns consumers were being overcharged for some products following the introduction of value added tax. Last week, the Department of Economic Development …
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Luxury is high on the spending priorities of GCC visitors to the UAE
The UAE’s retail sector has a synergistic relationship with tourism — visitors seek out the country for its variegated shopping options and the retail sector’s growth is closely tied to visitor spend. Due to ease of movement, proximity and other …
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Top 8 VAT tips for UAE Entrepreneurs to avoid costly penalties
Here are Thaker’s Top 8 Tips for UAE entrepreneurs to help SME business owners avoid financial penalties that may be imposed due to violations, errors and incorrect record-keeping: Read: Saudis greet New Year angry at Qatar, living conditions …
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Saudi Aramco IPO a step closer as decree creates new corporate structure
DUBAI: Saudi Arabia has taken a crucial step in its plans to … “As a customary step in the preparation process for a Saudi initial public offering (IPO), Aramco has been registered and converted from a royal decree company to a joint stock company.
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Mashreq Neo: UAE’s new bank offers fresh experience for digital natives
Mashreq Neo is the new full-service digital-only bank for customers in the UAE. This newest bank is the child of the UAE’s oldest: Mashreq Bank, which has 50 years of experience providing award-winning financial services in the country. Mashreq’s Head …
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Mashreq Bank: Digitisation mustn’t leave face-to-face customers behind
Mashreq Bank celebrated its 50th anniversary in 2017. It’s the UAE’s oldest bank, and has been innovating throughout its history, achieving a number of notable firsts in expanding financial services in the country. Head of Retail Banking Subroto Som …
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Saudi builder says unit IPO set to conclude by end-2018
The Saudi Arabian developer’s plan to offer shares comes on the heels of the United Arab Emirates’ biggest IPO last year, when Dubai-based Emaar Properties raised about $1.3 billion from the sale of a stake in its UAE real-estate unit. Dar Al Arkan …
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Marseilia Group and Amlak Finance Sign a Memorandum of Understanding to Develop an Urban Project in Nasr City, Cairo
Marseilia Group today announced the signing of a Memorandum of Understanding (MoU) with the UAE-based Amlak Finance PJSC to develop an urban project in Nasr City District, Cairo. The MoU is under the sponsorship of National bank of Egypt (Dubai Internation …
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UAE issues first VAT inclusive purchase order
The UAE’s Ministry of Finance (MoF) on Tuesday issued the first VAT inclusive purchase order, and approved the first VAT invoice on its federal financial system. The milestone for the UAE’s tax system follows the launch of value added tax on January 1.
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UAE Finance Ministry approves first VAT invoice
UAE: The Ministry of Finance today issued the first VAT inclusive purchase order, and approved the first VAT invoice on its federal financial system, becoming the first federal entity to implement tax procedures and issue a tax invoice in 2018. The …
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UAE: Amlak Finance declare its housing project completion
(MENAFN) UAE-baded Amlak Finance declared its first fully-owned housing project in Mirdif to have been concluded. Amlak Finance managing director and CEO Arif Alharmi announced “we are pleased to announce the completion of the Amlak’s first fully-owned …
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Trakhees Makes It Easier for Its Customers by Integrating With Dubai Islamic Bank
Following the government trend in adopting smart technological transformations using advanced technologies to lessen the number of physical applicants and Customer Visits, Department of Planning and Development – Trakhees, the Regulatory arm of Ports …
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Gulf Navigation announces plans to raise $122m through IPO
The IPO is expected to be launched in the first quarter of 2018 … Subscribe to Arabian Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
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Saudi construction giant plans IPO to sell 30% of subsidiary
Saudi builder Dar Al Arkan Real Estate Development Company has announced plans to sell 30 percent of a subsidiary in an initial public offering (IPO). The company said in … expand to global markets, selecting Dubai as the launchpad with an AED800 million …
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UAE Ministry of Finance Approves First Purchase Invoice With VAT
Following its commitment to the UAE’s various government finance procedures, laws and regulations; the Ministry of Finance (MoF) has today issued the first VAT inclusive purchase order, and approved the first VAT invoice on its federal financial system.
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