04/06/2021
Saudi Arabia has come a long way in diversifying economy, World Bank says
The World bank is ready to support regional countries technically and financially on their economic reform journeys
Legal, Tax, Regulation & Compliance
04/06/2021
Sawari Ventures raises US$71M for investing in Egyptian startups
The fund has increased its investment in high-growth Egypt companies to $68 million.
04/06/2021
Egypt, Japan sign MSME facility agreement worth $100m
New facility aims to boost MSMEs to lead Egypt’s economic growth
04/06/2021
UAE central bank issues best practice rules for financial p
The regulation "strengthens governance over the design, promotion and sale of financial products and services, and promotes responsible financing practices and appropriate disclosure of risks".
04/05/2021
Oman: New Economic Stimulus Plan includes extensive tax and other incentives
The plan contains a broad range of tax incentives for companies including enhanced relief for 2020 losses and an extension of the period for which withholding tax on dividends and interest paid to certain nonresidents is suspended
04/05/2021
UAE and Netherlands to boost trade ties
The total non-oil foreign trade between the pair has reached more than $3 billion in 2020, the minister said.
04/01/2021
EBRD and EU support crisis recovery in Morocco
The financing will help the company to increase its exports to European markets.
04/01/2021
JTC Continues Middle East Growth With Abu Dhabi Licence
The development enhances JTC’s commitment to the Middle East market and follows growth in the Dubai office.
03/31/2021
Kuwait approves law to guarantee bank loans for pandemic-hit businesses
The parliament also agreed to allow citizens that had been affected to delay repayments
03/31/2021
New law implementing the P2B Regulation
It sets out the conditions and eligibility requirements for non-profit organisations
03/31/2021
Tax haven ranking shows countries setting global tax rules do most to help firms bend them
Leading economists and campaigners from around the world are calling for OECD tax rules to be superseded by a more robust and globally inclusive process at the United Nations
03/31/2021
Al Etihad Credit Bureau includes Ras Al Khaimah Court-ordered financial obligations in its credit reports
RAK Courts become the first court in the UAE to provide credit information to AECB
03/30/2021
The General Tax Authority announces extension on tax returns by two months
The General Tax Authority works closely with its partners from the competent government agencies to monitor the country's economic situation considering the current challenges
03/30/2021
Erdogan fires central bank deputy governor
A Bloomberg report said Mustafa Duman, a previous board member at Morgan Stanley, was chosen as his replacement
03/29/2021
Qatar International Court confirms status as opt-in court of arbitration
The law allows parties to elect the First Instance Circuit of the Qatar International Court as the “competent court” of the arbitration
03/29/2021
National Bank of Fujairah PJSC (NBF) shareholders approved 2020 annual report
Strong capital position and ample liquidity coupled with effective cost management and prudent provisioning place the bank well for a swift recovery
03/29/2021
Shura Council approves draft law on common insurance protection for GCC citizens
The draft law came in implementation of the principle of reciprocity and in line with similar laws in other GCC countries.
03/26/2021
Turkish central bank chief removal is credit negative for bank funding says Moody’s
Could impact bank funding costs says credit agency
03/26/2021
Gold hub UAE toughens fight against financial crime
The steps follow a 2018 tightening of financial regulations that sought to dispel a view among some foreign investors that the country is an illicit money hot spot.
03/25/2021
Deloitte advises United Arab Chemical Carriers on landmark merger with United Overseas Group Ltd
UOG to acquire United Arab Chemical Carriers