08/03/2023
Signing of a Memorandum of Understanding with Abu Dhabi Exports Office
SMBC has been a leading provider of corporate finance, project finance, financial advisory and trade finance for the government and state-owned companies in UAE
Legal, Tax, Regulation & Compliance
08/02/2023
Dubai: Bank fined Dh11.1 million for inadequate anti-money laundering systems
DFSA said these weaknesses also meant that the bank failed to identify and report suspicious transactions
08/02/2023
UAE Corporation Tax: A round up of relief measures for SMEs
There have been 24 pieces of legislation released since the announcement of Corporation tax in the UAE
08/01/2023
Saudi Central Bank approves insurance rules for fintech sector
The insurtech rules aim to regulate the underlying business and its operations, assure client protection, and promote fair competition in solution provision and services to support sector stability and growth.
08/01/2023
DFSA fines bank Mirabaud $3m for anti-money laundering controls failings
The penalty includes disgorgement of $975,000, reflecting the economic benefit Mirabaud gained from its violations in the form of fees and commissions
07/31/2023
Qatar sees 5% increase in interest rates since January 2022
The QCB lending rate has cumulatively increased by 3.75% or 375 bps from the beginning of 2022.
07/31/2023
UAE Corporate Tax: Businesses have 9-month window to get filings right and stay clear of penalties
UAE Ministry of Finance sets out administrative penalties for violations on CT returns
07/27/2023
Saudi EXIM Bank, Japan’s Mizuho Bank sign MoU
Agreement aims to promote cooperation to boost trade opportunities and job prospects
07/27/2023
Turkey’s New Central Bank Governor to Confront Misgivings in Public Debut
We expect inflation to reach 55% by December and see risks tilted to the upside.
07/25/2023
UAE-based Sanctuary launches personalised corporate tax advisory service to companies
The firm said through their tailored solutions, they aim to transform the way clients navigate the intricate landscape of corporate taxation
07/24/2023
DIFC Courts reports Dhs15bn in claims value in H1 2023
There was an increase in the total number of cases across all divisions, with 455 cases filed
07/21/2023
The Central Bank of the UAE and Dubai Police sign MoU to enhance cooperation mechanisms for information exchange on financial crimes
The MoU includes enhancing cooperation and coordination in various areas
07/21/2023
Turkish Central Bank raises policy rate 250 basis points to 17.5%Turkish Central Bank raises policy rate 250 basis points to 17.5%
1-week repo rate in Türkiye reaches 22-month high level after 2nd hike in a row
07/20/2023
Turkey Gets $51 Billion Pledge of Economic Support From UAE
The United Arab Emirates pledged to ramp up support for Turkey’s embattled economy, with the two countries agreeing provisional deals they say could be worth more than $50 billion.
07/20/2023
Aramco, OQ Technology sign MoU to enhance satellite IoT connectivity at remote sites
The deal will see OQ Technology expand its Low Earth Orbit 5G-IoT services and solutions
07/20/2023
Dentons advises Joint Lead Managers on Sobha Realty issue
The Trust Certificates were assigned a rating of Ba3 by Moody's Deutschland GmbH and a rating of BB- by S&P Global Ratings Europe Limited.
07/20/2023
UAE, Turkey sign accord, strategic agreements valued at $50.7bn
The countries signed a joint accord to establish a high-level strategic council, further cementing ties between the UAE and Turkey
07/18/2023
For UAE corporate tax for free-zone companies, what constitutes ‘adequate substance’?
Corporate tax rules require free zone entities to have clearly measurable stakes on ground
07/18/2023
Saudi Arabia and Turkey sign agreements on energy, defence and other fields
Turkey's President Tayyip Erdogan and Saudi Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, witnessed the signing ceremony of the bilateral agreements between the two countries
07/18/2023
St. Kitts & Nevis seeks to expand its diplomatic footprint in the Middle East and other countries
The foreign minister also said that the Federation is looking to expand its diplomatic presence in the Middle East and North Africa.