Big Bank Merger Points to Trouble at Heart of Saudi Economy
When Saudi Arabia last saw a merger of two of its biggest banks, the oil price was recovering from a…
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Saudi Arabia facilitates corporate money transfer abroad
Saudi Arabia’s Ministry of Commerce has addressed the problems facing companies and institutions in financial transfers outside the Kingdom, in…
Saudi Arabia: 15% VAT hike comes into effect
Saudi Arabia’s decision to raise the value-added tax rate to 15 per cent was enforced on Wednesday on all goods…
Standard Chartered names CEO of Saudi business
Standard Chartered has named Yazaid al-Salloom as chief executive officer of its business in Saudi Arabia, as it seeks to…
Dubai homeowner businesses need to provide bank guarantees
Property management companies acting on behalf of homeowners associations in Dubai may need to put up bank guarantees for each…
AIB into private hands
The Central Bank of Egypt has given the green light to the Sovereign Fund of Egypt and leading local investment…
Pandemic prompts 'thousands of expats' to bid goodbye to Dubai
Thousands of British expatriates in the UAE have been rendered jobless by the impact of the covid-19 lockdown on the…
Arab Monetary Fund prepares launch of international immediate payment service
The Arab Monetary Fund (AMF) is preparing to launch an international immediate payment service, as part of its cooperation with…
TheCase: Calculating the new VAT in Saudi Arabia
Activation of the new VAT — with value-added tax on goods and services to increase from 5 percent to 15…
Dentons advises syndicate of banks on US$166 million lease financing of six vessels for Tristar
Dentons Abu Dhabi and Dentons London have advised a syndicate of banks (comprised of Senior Facility Agent & Security Trustee…
Gulf economies to shrink by 7.6% this year, says IMF
Gulf Cooperation Council (GCC) countries will see their economies shrink by 7.6 percent this year, an International Monetary Fund (IMF)…
QIIB launches salary cards to pay workers’ salaries
Within the framework of its integrated corporate solutions, QIIB announced the launch of its latest corporate solution- the salary card…