04/04/2023
Abu Dhabi sees 40% drop in labour dispute cases
The decline in labour cases reflects the success of the Abu Dhabi Judicial Department’s campaigns to raise awareness of the legal rights of employees
Legal, Tax, Regulation & Compliance
04/04/2023
Bahrain unveils new ‘golden licence’ to attract investors
The new licence is part of an economic recovery plan launched by the Gulf state in October 2021 to boost investment and job creation
04/03/2023
UAE Central Bank cancels licence of Russia's MTS Bank in Abu Dhabi
The lender will have to wind down its operations within six months from the date of the decision
04/03/2023
Saudi consumer spending rose 10% in February 2023: SAMA
February month saw the Kingdom's POS transactions reaching 633.2 million, which are made through ATMs and credit cards and processed through 1.51 million POS devices.
03/31/2023
ADIB’s Internal Shari’a Supervisory Committee issues over 30 Shari’a certificates
More than thirty certificates were issued, covering various products of Retail Banking including car financing, goods, real estate, investment funds, and investment deposits
03/30/2023
Saudi Arabia’s climate action can help defuse regional conflicts
The rising awareness of the need to combat climate change provides an opportunity to break that vicious cycle.
03/30/2023
Corporate Tax is ‘a good opportunity’ but panel of experts raise red flag on awareness
Discussion session by Corporate Group throws light on challenges in introduction of tax regime and perils for taking it lightly
03/30/2023
UAE's genome project will benefit the entire Arab world
The 10-year genome strategy in the UAE will go hand in hand with the country’s adoption of artificial intelligence and other advanced technologies
03/28/2023
St James’s Place set for UAE licence
Firm has received in-principle approval to open an office in the Dubai International Financial Centre
03/28/2023
KPMG publishes eighth edition of the GCC listed banks’ results
Out of all the GCC nations, Qatar had the lowest cost-to-income ratio
03/28/2023
Alvarez & Marsal Releases Saudi Arabia Banking Pulse For FY 2022
A&M’s KSA Banking Pulse examines data of the 10 largest listed banks in the Kingdom, comparing the FY’22 results against FY’21 results.
03/28/2023
UAE, Israel ink customs agreement to boost trade ties, activate CEPA
The UAE-Israel Comprehensive Economic Partnership Agreement was signed in May last year
03/27/2023
Environment Authority continues to monitor biodiversity of Oman
The team highlighted the tasks and specialisations of the team, and the biodiversity of rare natural animal species that live in wild environments in the Sultanate of Oman and the challenges it faces.
03/27/2023
Egypt's central bank likely to hike interest rates by 3% - HSBC
The apex bank will have to follow a 'very stringent' monetary policy, says report
03/24/2023
UAE central bank signs deal for CBDC strategy
The CBDC strategy was first unveiled in February as part of the central bank’s program to position the UAE as a global financial hub.
03/23/2023
World Bank agrees $7bln, 5-year partnership with Egypt
The Country Partnership Agreement will entail $1bln per year from the International Bank for Reconstruction and Development and about $2bln over five years from the International Finance Corporation
03/22/2023
Abu Dhabi’s ADGM witnesses 56% rise in assets under management in 2022
Last year, several ADGM-based companies listed on ADX including Borouge, Burjeel Holdings, Bayanat AI and Americana Restaurants while Anghami completed its listing on NASDAQ
03/22/2023
The Central Bank of UAE Grants Direct Debit Systems License for Marketplace Operations
Merchants will also benefit from the Direct Debit System service as it offers a fixed-fee structure that is cost-effective and saves time, without it affecting their relationship with their banking services provider.
03/22/2023
Regulator FRA (Egypt) sharpens focus on sustainability with UK banking alliance
LIBF and FRA signed a MoU to promote sustainable finance
03/21/2023
Linklaters secures licence to operate in Saudi Arabia
The new office will be the firm’s third in the Middle East alongside Dubai and Abu Dhabi