04/29/2020
Coronavirus: Hackers pose as Dubai Police to steal bank details
British businesswoman targeted by fraudster recounts experience
Legal, Tax, Regulation & Compliance
04/29/2020
Blockchain could be a solution to supply chain problems
The World Economic Forum rolled out a guide for deploying the technology
04/28/2020
Egypt seeks aid from IMF amid virus downturn
PM Mostafa Madbouli says IMF aid package crucial as flights are grounded and tourism halted
04/28/2020
Combating coronavirus: Dubai warns of $10mln loan scheme fraud
DFSA had earlier warned consumers about an increase in scams and other fraudulent activity since the onset of Covid-19.
04/28/2020
Lebanese banks set rate of pounds per dollar for withdrawals from dollar accounts-sources
According to a central bank circular last week, depositors with dollar accounts in Lebanon will be paid cash in the local currency
04/28/2020
HSBC completes first funding under UAE Central Bank's targeted economic support scheme
HSBC has also taken significant steps beyond TESS, putting a focus on actions that ensure flows of essential goods and services into, and through, the UAE continue smoothly despite the disruption to international trade caused by COVID-19
04/28/2020
Economic Substance in the UAE - 2020 Update
The OECD then turned its attention to combatting Base Erosion and Profit Shifting (BEPS)
04/28/2020
DAC6 – The EU’S Mandatory Disclosure Regime (MDR) and its Impact on the UAE
It provides for the mandatory disclosure by intermediaries, or individual or corporate taxpayers, to the tax authorities of certain cross-border arrangements and structures that could be used to avoid or evade tax and the mandatory automatic exchange of
04/28/2020
Gold prices near steady as global stock markets gain
Some regions in some countries, including the U.S., are reopening at least some businesses that have been shuttered from the Covid-19-induced lockdown.
04/27/2020
Why gold is the dollar’s only real challenger among global currencies
While the greenback is set to remain strong in the short term, its purchasing power may diminish if excessive stimulus measures continue
04/27/2020
UAE is partially lifting its coronavirus lockdown measures
From 24 April, residents will be allowed to leave their homes between the hours of 6am and 10pm without a permi
04/27/2020
Egypt lender buys Mayfair Bank stake for Sh3.7bn
The approval by the CBK will pave the way for commencement of operations as Mayfair CIB Bank Limited.
04/27/2020
StanChart Bad Loan Momentum Continues
Loan loss provisions will continue dominating headlines for bank earnings in the first quarter and Standard Chartered is not alone in facing balance sheet headwinds.
04/24/2020
DMCC hosts virtual briefing with UAE Ambassador to China
DMCC's Executive Chairman and Chief Executive Officer connects with UAE Ambassador in China via virtual conference
04/24/2020
UN, European Union warn Israel against West Bank annexation
UN's Middle East envoy says move would be 'devastating', while EU says it 'does not recognise Israeli sovereignty over occupied West Bank'
04/24/2020
Coronavirus: Saudi Arabia forced to boost borrowing as oil glut slams virus-hit economy
Finance minister says kingdom will also draw down up to $32bn from its reserves to finance deficit caused by twin crises
04/24/2020
Contact Finance obtains first consumer credit licence from Egypt's FRA
Contact Finance is now also subject to the decisions made by the FRA’s Board of Directors.
04/24/2020
DFSA fines La Tresorerie Dh2.25m for illegal cash services, regulatory failings
Firm’s activities increased risks of money laundering and endangered client
04/24/2020
Saudi Arabia gives three-month loan repayment delay for citizens - central bank
The measure is part of a government economic package to help businesses and workers cope with the fallout of the COVID-19 outbreak.
04/24/2020
Saudi Response to Fiscal Shock Centers on Record Debt Plan
The government is looking at additional spending cuts and may issue as much as an extra 100 billion riyals of debt on top of 120 billion riyals already announced.