03/16/2020
UAE, Saudi central banks roll out $40 billion stimulus for virus-hit economies
The disease has so far infected 85 people in the UAE and 105 in Saudi Arabia.
Legal, Tax, Regulation & Compliance
03/16/2020
KPMG: Saudi Arabia's banking sector resilient despite economic headwinds
The report is the first major publication to include an analysis of the 2019 performance of all eleven Tadawul-listed banks
03/16/2020
Abu Dhabi Securities Exchange temporarily closing Trading Halls
The Exchange will continue to provide comprehensive access to trading services through its Sahmi digital platform
03/16/2020
Spanish king named on offshore fund linked to €65m Saudi 'gift'
Revelations threaten to tarnish king's image six years after he took over from his scandal-hit father
03/16/2020
Starved of dollars and drowning in debt, Lebanon’s economy sinks fast
While Lebanon produces little hard, up-to-date economic data, interviews with two dozen business owners, union leaders, industry groups and traders paint a picture of an economic and financial crisis without precedent since independence in 1943.
03/16/2020
Coronavirus infections continue to rise in Middle East
Egypt recorded 13 new coronavirus cases, bringing total to 93
03/16/2020
UAE Central bank’s Dh100b support to lift liquidity and lending of banks
Central bank of UAE uses financial strength to support banking system, economy
03/16/2020
Mideast Joins Global Stimulus With $47 Billion to Fight Crisis
Saudi Arabia, U.A.E., Egypt unveil measures to aid economies
03/16/2020
Coronavirus: Remote working for financial services
It’s an unprecedented situation with a large proportion of the global workforce now working from home in an attempt to delay and contain the virus.
03/15/2020
India tightens rules stating tax residency in a crack down on wealthy evaders
Government aims to catch up with people who arrange their affairs in such a fashion that they are not liable to tax in any country or jurisdiction during a year
03/13/2020
Increase in stamp duty tax could impact Gulf investment in UK
UK Chancellor Rishi Sunak is set to give his first budget speech on Wednesday amid economic uncertainty caused by falling oil prices and the deadly coronavirus spread
03/13/2020
Erdogan faces challenge as former ally launches rival party
Ali Babacan criticises Turkey president’s ‘misguided’ economic management
03/13/2020
Kuwait central bank ready to provide cash to banks over coronavirus outbreak
Other measures included suspending fees on point of sales devices and ATM withdrawals
03/13/2020
Oman Insurance said to mull bid for Axa's Middle East ops
Sources say company is working with Barclays as it weighs potential offer for Axa business
03/13/2020
Bahrain c.bank cuts overnight lending rate to 2.45%
It cut the rate to "to ensure the smooth functioning of the money markets in Bahrain"
03/13/2020
Ex-Barclays CEO Varley Faces Quizzing in $2 Billion Suit
Former banker Jenkins also to face questions during June trial
03/13/2020
Commercial Bank of Dubai okays up to 40% ownership for non-UAE nationals
CBD's shareholders also approved the distribution of 20.7% cash dividends
03/13/2020
Iran asks IMF for $5 billion emergency funding to fight coronavirus
A slowdown in economic activity caused by the virus outbreak and a sustained closure of its borders are expected to lead to a contraction this year.
03/13/2020
Director of FX broker Numex gets 8-year ban
Ehsan Tayefi, director of Numex Foreign Exchange Corporation (UK) Ltd, is now banned from acting as a director or directly or indirectly becoming involved in the promotion, formation or management of a company.
03/12/2020
Muddy Waters founder calls new NMC Health debt 'a massive fraud'
How a $2.7bn hidden debt tips the troubled UAE-based hospital operator into a full-blown accounting scandal