Saudi Arabia slashes fuel prices in the kingdom
Saudi Arabia has slashed fuel prices in the Kingdom by almost 50 per cent starting Monday (May 11), according to…
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UAE Central Bank, ADGM to host fintech event in November
The Central Bank of the UAE and Abu Dhabi Global Market have joined up to support the adoption of financial…
COVID-19: Saudi governorate put under total lockdown
Saudi authorities announced Tuesday imposing a 24-hour curfew in the governorate of Beesh in the south-western region of Jizan until…
Oman expected to meet its funding needs, keep support for dollar peg
The rating agency Standard & Poor’s, which recently lowered the ratings on Oman to 'BB-/B', has said the country will…
Abu Dhabi's Mubadala hires banks for bond issues – sources
Abu Dhabi’s state fund Mubadala has hired banks for a potential three-tranche bond issue consisting of six-year and 10-year conventional…
UAE not to hike VAT rates and follow Saudi move
The UAE has no plans to increase its VAT (value-added tax) rate, according to Younis Haji Al Khouri, under-secretary in…
The United Arab Emirates: A Key Piece in the Gobal Money Laundering Puzzle
By the normal standards of the Financial Action Task Force (FATF), a recent report into attempts by the United Arab…
African banks confident on growth of cashless payments
Six in ten banking executives in Africa and Middle East think cash will dip below 5 per cent of retail…
Bin Aweidha confirms to Banking Day that World Investments plans to go ahead with Xinja funding
A prominent Dubai-based lawyer has a good rule of thumb for gauging the importance of myriad minor royals in the…
DFSA takes regulatory action against two firms and three individuals
Dubai Financial Services Authority, the regulator of Dubai International Financial Centre , is to impose fines on two firms and…
IMF approves $2.77 bn in emergency pandemic aid for Egypt
The International Monetary Fund on Monday said its executive board approved $2.77 billion in emergency financing to help Egypt grapple…
Saudi move could be followed by more tax hikes across Arab world
More Arab economies may need to follow Saudi Arabia in hiking taxes to replenish reserves that have been savaged by…