10/22/2020
SHUAA Capital prices US$150 million bond issuance
The issuance will see SHUAA raise the full US$150 million approved by shareholders at a General Assembly of the company held on 14th October.
Legal, Tax, Regulation & Compliance
10/22/2020
Survival of the fittest UAE advisers
Revenues set to take a big hit as new commission structure now in effect
10/22/2020
Hong Kong fines Goldman Sachs record $350m over 1MDB
The 1MDB bond offerings were arranged and underwritten by Goldman Sachs International,
10/21/2020
UAE, Arab Monetary Fund sign deal to enhance economic integration
Under the agreement, the UAE will create the legal framework and provide the necessary benefits and immunities for the corporation to enable it to efficiently perform its role, as well as to generate regional integration opportunities.
10/20/2020
Global trade faces $18trln hit by 2030
The protectionist trade policies that emerged even before the Trump administration will continue to define trade landscape of 2020
10/20/2020
New UAE wealth management law a welcome game changer
The new law, which creates a legislative framework for businesses passed on to the second or third generations and are often in danger of collapse, goes a long way to allaying my concerns.
10/20/2020
Oman, in talks for Gulf aid, plans three-part bond
Oman has begun talks with some Gulf countries for financial support, according to a bond prospectus dated Oct. 19.
10/20/2020
8 types of fraud to watch out for in the UAE
Fraudsters implement social engineering tactics to separate you from your money
10/19/2020
ADGM and Companies House Gibraltar partner to bolster respective registration functions
MoU to facilitate development of ADGM and CHG registration functions
10/19/2020
EBRD extends funds to Turkey’s Alternatif Bank
The new loan will enable Alternatif Bank to continue lending to Turkish businesses and will help to counter the impact of the coronavirus outbreak on the economy.”
10/16/2020
Between acquisition and expansion Journey of Gulf banks in Egypt
This is in addition to previous attempts by First Abu Dhabi Bank to acquire Bank Audi Egypt, but the Corona pandemic led to the suspension of negotiations.
10/16/2020
UAE brokers face drastic drop in commissions after new rules on life insurance policy sales
New rules also place added responsibility on brokers if premium payments are not met
10/16/2020
UAE, Israel working on double tax treaty to encourage investment
The UAE has around 100 double taxation agreements with most of its trade partners.
10/16/2020
Oman: CbC reporting requirements introduced for multinational enterprises
Oman joined the OECD base erosion and profit shifting (BEPS) inclusive framework on 20 October 2017
10/15/2020
Saudi Shoura Council wants steps to reduce tax evasion
The center aims to implement a unified strategy to develop the Kingdom’s nonoil revenues and improve government agencies’ revenue generation mechanisms.
10/15/2020
Israel's Leumi grants guarantee to First Abu Dhabi for Etihad flights
The bank guarantee to FAB -- one of the largest banks in the Middle East -- would ensure payments for flight tickets purchased by Tal Aviation on Etihad
10/15/2020
Allinial, Integra, Nexia and Russell Bedford expand in MENA
The firm serves a broad range of sectors and industries, particularly focusing on the financial services sector.
10/14/2020
VAT will shore up Oman’s economy
This tax is imposed on every stage of the manufacturing and procurement process for a company, but it is not cumulative, so the consumer will only pay the final five percent of the tax rate.
10/14/2020
IMF eases back on forecasts for Saudi Arabia's economic slump
Gulf's largest economy will shrink sharply this year due to the impact of the coronavirus pandemic but the depth of the contraction will not be as deep as first thought
10/14/2020
Central Bank of Egypt sets up EgyCash company for money transfers
The central bank is contributing 35 percent of the capital of EgyCash and other Egyptian banks are contributing the rest.