08/22/2018
Alleged head of BitConnect cryptocurrency scam arrested in Dubai
BitConnect has been accused of operating an exit scam after duping investors out of millions of rupees.
Legal, Tax, Regulation & Compliance
08/20/2018
UAE companies' debt set to spike with new IFRS accounting rules
Hassan said much more liabilities will be recognised on the balance sheet with the new standards.
08/20/2018
Qatar and Turkey Central Banks Sign Swap Agreement: Qatar Central Bank
The agreement, which was signed by the heads of the two central banks on Friday, will establish a two-way currency exchange line, the Qatar Central Bank said in a statement posted on its website.
08/20/2018
AlixPartners to oversee AGHF's separation from Abraaj Group
Gobal consulting firm AlixPartners said it has been appointed by investors of the Abraaj Growth Markets Health Fund (AGHF) to oversee the fund's separation from the UAE-based Abraaj Group
08/19/2018
Islami Bank plans to open representative office in Dubai
Islami Bank also does not have any exchange house or branch in the gulf countries.
08/19/2018
Push to set up banking arbitration
The meeting also discussed collaboration between BAB, the Justice, Islamic Affairs and Endowments Ministry, and the Industry and Commerce and Tourism Ministry to implement “Bankruptcy Laws Awareness Campaign”
08/19/2018
Shuaa Capital seeks licence to manage IPOs
Firm has called a shareholders' meeting to seek approval for share buyback
08/17/2018
Kuwait’s Warba Bank receives licence to conduct securities activities
The renewable licence is valid until 13 February 2019.
08/17/2018
These UAE private sector workers will get a six-day holiday
Few companies have announced Thursday as a holiday.
08/17/2018
DFSA applies limits on Abraaj Capital’s activities in DIFC
Regulator to monitor the company closely as it seeks liquidation
08/16/2018
Abu Dhabi's Mubadala sells 3% stake in RHB Bank
Sources said Mubadala offered 120.3 million shares or 3% of RHB Bank’s enlarged share capital to be sold through a book-building exercise at a range of RM5.07 to RM5.18 per share.
08/16/2018
Trade Bank of Iraq puts Turkey bank acquisition plans on hold
"The Turkish lira is not stable and we are watching to see if it stabilises before entering."
08/15/2018
European banks’ exposure to Turkey
Spanish, Italian, French and UK banks are most exposed to Turkey’s free-falling currency
08/15/2018
Court reserves judgement in Abraaj bounced cheque case
Jail term for Naqvi could delay asset sales and loan recoveries
08/15/2018
Turkey banks get respite on liquidity moves, policy calls
The banking regulator limited swaps transactions to help make shorting the currency more difficult.
08/13/2018
Turkey sees long-term partner in China
President Erdogan says his nation, amid crisis with Washington, may be forced to seek out 'new friends'
08/13/2018
Israel’s richest woman questioned for hours in suspected Africa bribery case
Shari Arison denies wrongdoing amid suspicions of pay offs to foreign government reps; tycoon released but prohibited from leaving the country
08/10/2018
Hong Kong, Singapore join global reg initiative
As part of the consultation, the group is seeking views on the mission statement for the GFIN, its proposed functions, and where it should prioritise activity.
08/09/2018
UAE's RERA, Dubai Commercial Bank sign agreement
Escrow account management services to Owners’ Association communities in Dubai.
08/09/2018
Nirav Modi spotted in Dubai, may be in Egypt now
Officials stated that sending an extradition request involves legal process so they opt for it only after obtaining authentic information about the suspect’s whereabouts.