07/17/2020
CIAF cancels Sukuk issuance, considers alternative financing methods
It was forced to postpone and reconsider this step in light of the global pandemic and the international air traffic suspension.
Legal, Tax, Regulation & Compliance
07/17/2020
Robust master plan urged for Qatar capital market with focus on long-term debt
"The long-term growth of Qatar’s domestic debt capital market should be a top priority in the master plan with a focus on driving corporate bond and sukuk issuance," the report said.
07/17/2020
Bankruptcies among small and mid-sized businesses to peak, says IMF
More tax relief and interest rate subsidies can rectify a worsening situation
07/17/2020
Abu Dhabi Securities Exchange sees rapid acceleration in access for foreign investors
In the first half of 2020, AED6.3 billion of additional stock became accessible for a new group of both local and international investors, creating further scope for increased trading and liquidity
07/17/2020
Abu Dhabi Securities Exchange Set for Growth
ADX has coordinated closely with its listed companies and other stakeholders to build a robust, modern and increasingly international capital market, an essential pillar of any economy.
07/17/2020
IMF urges GCC, Arab states to balance reopening economy, keeping Covid cases down
Governments have to move away from job providers and shift this responsibility to private sector
07/17/2020
President issues Federal Decree restructuring Central Bank of UAE
Established under the Federal Law No. 10 of 1980 as a public institution, the CBUAE promotes financial and monetary stability, efficiency and resilience in the financial system
07/17/2020
Union of Arab Banks and Australian EarlyBirds Marketplace to bring Actionable Innovation to the Arab states
The UAB Digital is uniquely positioned to act as a service provider to UAB members and will play a catalytic role towards achieving world-class innovation and a fully transformed financial services sector in the Arab states.
07/16/2020
Dubai Chamber webinar examines legal implications of Covid-19-related business debts
Webinar highlighted strategies for recovering outstanding debt, negotiating settlements and rescheduling payments.
07/16/2020
Saudi banks’ profitability witnessed improvement in Q1 2020
Following the Q1’20 results major banks have also reduced their FY’20 guidance acknowledging the tough market conditions.
07/16/2020
Kuwait authorities crackdown on money laundering cases
Investigations reveal wide-ranging relations between Kuwaitis and Kurds
07/15/2020
Saudi company sues Natwest over ‘$5m scam’
It claims that after the payment was made, large amounts were subsequently transferred
07/15/2020
Saudi's new corporate law will see creation of more flexible companies: Official
New models of companies include simple joint-stock companies, which will have the characteristics of joint-stock companies featuring flexibility in raising capital or in issuing different types of shares
07/15/2020
Turkey's financial regulatory agency fines 7 brokerage houses for violating short selling ban
Short selling occurs when an investor borrows a stock and sells it on the open market, planning to buy it back later for less money.
07/15/2020
Ahli Bank offers ‘Comfort Loan’ scheme
Commenting on the scheme, Muneer Al Balushi – AGM- Head of Retail Distribution, Ahli Bank said, “Ahli Bank always looks at providing new schemes and product offerings to its customers.
07/15/2020
UAE corporate scandals require a clean up
Laws are in place to plug gaps and need to be rigorously enforced for true governance
07/15/2020
Swisspartners exits single markets in Africa, South America and Turkey
While the company is hiring in Geneva and Zurich, some of the services it provides in these two cities may no longer be needed.
07/15/2020
Credit guarantees will boost SME lending in UAE, but risks remain for banks
Other measures include reductions in business fees including trade license costs and the option to delay VAT payments.
07/14/2020
Vodafone Egypt deal delay beneficial: Expert
STC said it would extend the period again — to September — for the same reason.
07/14/2020
Jersey agrees business initiatives with UAE
The webinar advised Jersey companies on how to do business in the UAE, and on the commercial opportunities available as its economy begins to rebuild following the Covid crisis.