09/08/2017
Apex Fund Services secures ADGM licence
We welcome more leading firms and fund administrators like Apex Funds Services to add to the vibrancy of our financial ecosystem and accelerate the funds activities at ADGM and wider region.
Legal, Tax, Regulation & Compliance
09/07/2017
Advisers in UAE face tougher environment for financial planning
The chief executive of a leading UAE advice firm has warned that increased regulation will reduce the survival prospects for many financial consultancy firms in the Emirates if the obvious warnings from regulators are ignored.
09/07/2017
Turkish banks’ first-half net profit rises
Their net profit was 22.8 billion liras a year earlier.
09/05/2017
Isle of Man firm to launch $325mln Dubai property priced in bitcoin
The Dubai project is one step toward efforts to push bitcoin into the mainstream.
09/04/2017
DGCX sees surge in Euro and Rupee contract trades in August
Derivatives exchange working on Shariah-compliant spot gold contract
09/04/2017
Diezani, ex-minister, son, others top Dubai assets list
The Economic and Financial Crimes Commission has traced eight choice assets to Mrs. Ibru and two to the ex-Petroleum Minister.
09/04/2017
Germany plans to file lawsuit against Kuwait on tax evasion
The hospitals in Germany have explained to Kuwait that they had nothing to do with the excess amount.
09/04/2017
BPL Global opens for business in Dubai
The leading credit and political risk insurance broker has obtained a brokerage license to allow it to undertake insurance intermediation in the Dubai International Financial Centre.
09/03/2017
UAE to maintain interest rates 'until 2018' - report
Central bank expected to keep 2 percent benchmark rate for rest of the year
09/03/2017
VAT could emerge a cost centre for banks irrespective of rates
In VAT exempt categories, banks will have only limited recourse to input tax refunds
09/02/2017
Economists tangle over risk of a Greek-style collapse in Turkey
As of August 11, loans had risen 13% this year to $522bn, according to Turkey’s banking regulator.
08/31/2017
UAE’s credit growth turns positive, but credit demand remains weak
Non-resident and government segment drives deposit growth
08/31/2017
IMF Expects Moderate Qatar Slowdown Due to Gulf Trade Disruption
Authorities reacted quickly to the spat with Qatar’s neighbors, limiting the fallout by finding alternative sources for imports and ensuring key infrastructure projects aren’t disrupted.
08/30/2017
Leading advisers predict new UAE rules will cull firms by 50%
Howell said this may lead to brokers moving to enhance and augment their services with ‘value-adds’ such as tax advice and other extras
08/30/2017
Turkish participation banks' profit soars 36 pct in first half
It is possible to say that when we exclude the damage of a participation bank exiting from the sector.
08/30/2017
Criminal Probe of Former Bank Execs Worries Other Israeli Bankers
Probe of Bank Leumi's has not gone unnoticed in Hapoalim, Tefahot, both still in midst of investigation by U.S. authorities on allegations that they, too, enabled customers to evade taxes
08/30/2017
Banque Misr, Egypt Post, Visa sign to co-ordinate in digital financial services
The agreement includes integration of traders in financial coverage system and provision of ATM machines at the post office
08/29/2017
Swiss private bank hands to investigators documents related to UAE ambassador linked to 1MDB and Jho Low
Yousef allegedly has a financial link to Jho Low, the Malaysia businessman whom US prosecutors believe masterminded the illicit trail of state money into private coffers.
08/29/2017
Europe accounts for 37% of Qatari banks’ cross border funded liabilities, says QCB
Britain’s exit from the EU or Brexit will have wide range of implication to global economy including the GCC economies, the report said.
08/29/2017
Saudi Arabia has lost $250 billion in three years
The figure has also showed a 12.4 per cent decline compared to a year ago.