08/06/2020
Dubai launches economic program for post-COVID recovery
The government of the emirate plans on using local and international experts in economy and society to create growth strategies.
Legal, Tax, Regulation & Compliance
08/05/2020
Total collapse: Lebanon’s currency crisis explained
If your salary was 750,000LP or $500 this time last year, it’s worth 750,000LP or $75 now
08/05/2020
Kuwaiti lessor halves Boeing 737 MAX order after ending legal claim
Alafco sued Boeing for $336m over accusations it refused to return advance payments
08/05/2020
'Brexit will bring us closer to the Gulf', says UK Middle East Trade Commissioner
Official says bi-lateral trade meetings have gone up despite the pandemic
08/05/2020
Egypt's local bank deposits increase to EGP 3.268trn in June: CBE
In the same context, the CBE revealed that customer deposits in foreign currencies increased by EGP 14.195bn to about EGP 666.642bn during June, compared to about EGP 652.447bn in May.
08/05/2020
VAM Funds Announces Registration of Funds in UAE
VAM is committed to establishing and building a permanent distribution capability in the UAE, where demand for high quality, sophisticated investment funds and products is increasing.
08/05/2020
Albanian businessman’s assets seized, drug links suspected
Prosecutors said that the assets belonging to Ndroqi and his family stemmed from “his involvement in criminal activity” and were “unjustified.”
08/05/2020
Qatar ADR: scope to resolve construction claims
Often claims on construction projects arise because of the changes to the original scope of work, known as variations.
08/04/2020
Turkish State-Owned Banks On Lending Spree To Stave-Off COVID-19 Crash
But a surge in lending – particularly from state-owned banks – and government decreed reductions in local interest rates mean that many companies will be able to refinance their debts.
08/04/2020
Khaleeji Commercial Bank issues $159mln sukuk
The transaction will significantly strengthen the lender’s financial position
08/04/2020
Bucheeri: A quantum leap in Bahrain digital banking services
Experts discuss performance changes in the Bahraini business sector due to COVID-19
08/04/2020
Bahrain's GFH Financial subsidiary finalizes $159mln sukuk issuance
GFH is listed on Bahrain Bourse, Kuwait Stock Exchange and DFM
08/03/2020
Kuwait: NBK’s AGM was held with a 77.86% quorum and approved all BOD’s proposals
Total assets grew by 6.7% y-o-y, reaching KWD 29.3 billion and equity attributable to shareholders stood at KWD 3.21 billion.
08/03/2020
JPMorgan Sees Virus Fallout Stoking Middle East Deals Into 2021
Governments have been tapping debt markets to shore up finances battered by a slump in oil prices and as lockdowns to curb Covid-19 weigh on their economies.
08/03/2020
Gulf economies have a head start
The region has some inherent advantages that are likely to hold it in good stead in this recovery phase
08/03/2020
UAE gov reviews efforts to deal with impact of pandemic on economy
Nearly 10,000 SMEs benefit from the AED 50 billion Targeted Economic Support Scheme provided by the Central Bank
07/31/2020
UAE oil trader GP Global files complaints over employee fraud
A detailed investigation is continuing on the methods of the fraud, “the individuals and entities involved, and the impact of the fraud” on GP’s business, the company’s letter said.
07/31/2020
IMF bailout may be half what Lebanon sought when the talks began
The government and local lenders are still hashing out a compromise over calculating losses in the financial sector after their differences set back progress with the IMF.
07/31/2020
Aamal reports gross H1 profit of QR154.8m
To support our valued retail tenants during these hugely challenging times, Aamal approved the waiver of rents for our retail units during the second quarter of 2020.
07/31/2020
Turkey to Increase Censorship on Social Media Content
Companies could face fines, the blocking of advertisements or have bandwidth slashed by up to 90 percent, essentially blocking access, under the new regulations.