08/24/2017
Sluggish July imports in Qatar show sanctions still hurting economy
Saudi Arabia, UAE and Bahrain cut diplomatic, transport ties with Qatar on June 5
Legal, Tax, Regulation & Compliance
08/24/2017
UAE bank credit increases in July - Khaleej Times
The Central Bank data disclosed that total bank deposits also increased by Dh3.1 billion during July mainly due to Dh5 billion increase in non-resident deposits, overriding Dh1.9 billion fall in resident deposits.
08/23/2017
Egypt court acquits Hussein Salem of money laundering
The prosecution’s investigation into the case revealed that Salem gave his children some of the money.
08/23/2017
Egypt policy measures improve banking but investments slow, BLOM Bank Egypt chief says
Mohammad Ozalp, CEO of Lebanese-based BLOM Bank Egypt said dollar liquidity had radically improved since the pound float
08/22/2017
Bank financing to UAE realty sector tops $76bn in H1
Offices and finally luxury homes which address high-income segments of society.
08/22/2017
L’Oréal and Beiersdorf set to take advantage of Egypt’s new investment law?
Following the announcement of a three-year $12 billion loan agreement with the International Monetary Fund last year
08/21/2017
Law firm quit as Barclays adviser over Qatar loan fears
Linklaters concerned deal during financial crisis would be illegal, documents show
08/21/2017
Bahrain may need to boost interest rates to protect currency, IMF warns
Bahrain lacks the ample financial and oil reserves of its neighbors and has been hit harder than them by a reduction in its export revenues due to slumping oil prices, although it is a close ally of Saudi Arabia, which might aid it in any crisis.
08/20/2017
Ukraine arrests French-Israeli wanted in ‘fake CEO’ scam
Gilbert Chikli, living in Israel since 2009, nabbed along with another French-Israeli suspect
08/20/2017
Saudi authorities study changes to worker dismissal law
Saudi workers have complained that labour law changes have made it too easy for them to be dismissed
08/19/2017
Qatar emerging stronger despite economic blockade
QDB is working on these challenges and will try to translate them into opportunities.
08/18/2017
New permit strategy to boost realty sector
Developers and investors to benefit from the overall confidence expected in the market
08/17/2017
Bank official embezzled Dh896,742, court hears
The suspect forged property registration documents and cheques to swindle money
08/17/2017
Qatar to Tell Banks to Seek Overseas Funding as Gulf Spat Drags On
Regulator is meeting with banks regularly to gauge liquidity
08/16/2017
$205bn worth of cheques handled in H1: UAE cbank
The number of rejected cheques in June declined to 94,264 against 107797 in May.
08/16/2017
DIFC Courts’ half-year performance underscores global judicial standing
The ongoing growth of CFI case volumes and values underscores the DIFC Courts’ maturity and position in the regional and international judicial landscape.
08/15/2017
Deposits in UAE banks surge to $120bn in H1
The UAE‘s consumer market is largely being driven by a fast-growing population with relatively high incomes.
08/15/2017
Qatar,‘damaged’ by ATQ sanctions, has the worst still to come
It concluded that it was a “damaging blow” to its economy, with a 36 percent fall in imports, a dramatic rise in the cost of food, a fall in construction-sector activity and sharp tensions in the Qatari banking sector.
08/13/2017
IFRS 9 to herald new era in reporting for GCC banks
This change will impact diverse a bank’s business including accounting, risk management, capital management, regulatory reporting and more
08/13/2017
A call for UAE VAT compliance
The final VAT regulations announced last month helped clear the air for investors and companies in the UAE as a whole. Set to be introduced across the Gulf countries.