03/17/2020
Dubai's DIB shareholders approve increase in foreign ownership limit
Board recommended an increase in the foreign ownership limit of its shares to 40% from 25%
Legal, Tax, Regulation & Compliance
03/17/2020
GCC central banks cut interest rates following Fed's shock move
Global markets continued to slide on Monday despite the US Federal Reserve cutting rate to near zero on Sunday evening
03/17/2020
MaCeen Capital license suspension ends – Saudi CMA
The suspension was imposed on October 23, 2018
03/17/2020
UAE Central Bank cuts interest rates to stem coronavirus impact
Move comes after US Federal Reserve cuts rate to near zero
03/17/2020
Liquidity in Saudi banks 'very good', says SAMA governor
Saudi Arabian Monetary Authority Ahmed al-Kholifey has also backed the riyal's peg to the dollar
03/17/2020
Abu Dhabi details measures to shore up economy amid global coronavirus impact
Emirate unveils 16 new initiatives to support private sector, focusing on start-ups and SMEs
03/17/2020
Former Pilatus Bank chair Ali Sadr convicted of fraud
Faces a maximum of 85 years in jail
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.
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