UAE taxes: FTA announces new penalty rules, reduces fines for violations
The amendments, effective from April 14, introduce reduced or revised administrative penalties across Value Added Tax, Excise Tax, and tax…
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How UAE’s R&D tax credits could unlock significant value for the construction sector
Construction companies in the UAE risk missing out on substantial tax savings under the country’s new research and development incentive…
ClearTax approved as UAE e-invoicing provider ahead of July deadline
ClearTax said on Tuesday it had been approved as an ‘Accredited Service Provider’ under the UAE’s e-invoicing framework, as companies…
Al Baraka Islamic Bank launches alBarakat 2026 scheme
Al Baraka Islamic Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has announced the launch of…
Oman’s Bank Muscat posts 9% rise in Q1 profit on lower impairment
Bank Muscat, Oman’s largest bank, reported Q1 net profit of OMR 64 million, 9% higher year-on-year (YoY) on the back…
IMF cuts MENA growth forecast to 1.1% on Iran war
The International Monetary Fund sharply reduced its 2026 growth forecast for the Middle East and North Africa to 1.1 percent…
UAE and Philippines to develop digital currencies and link payment systems
The central banks of the UAE and the Philippines have signed an agreement that includes efforts to develop digital currencies…
Dollar GCC ESG sukuk issuance stalls over geopolitical tensions
Dollar-denominated ESG sukuk issuance plunged 75% YoY to around $1 billion in Q1 as geopolitical tensions weighed on investor sentiment,…
BAB inks deal with Kuwait Banking to boost financial collaboration
The Bahrain Association of Banks has announced the signing of a MoU with the Kuwait Banking Association at its headquarters…
QIC wins Digital Insurer of the Year and Best Insurance App in Qatar
Qatar Insurance has been named "Digital Insurer of the Year in Qatar" and "Best Insurance App in Qatar" at The…
Oman’s central bank raises OMR2.1mn through treasury bills
Oman’s central bank raised OMR2.1 million by way of allotting treasury bills on Monday. The value of the allotted…
Closing Bell: Saudi main index closes in green, up 1%
Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 112.13 points, or 0.99 percent, to close at 11,426.77. …