Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

UAE job loss insurance: 3 fines for violations, failure to subscribe before June 30

Deadline applies to all employees of both private companies and government entities

World Bank financed Jordan gov’t projects with $142.5m year-to-date

This year, the bank has transferred $112 million for the cash transfer program, which is implemented by the National Aid Fund in cooperation with the bank, bringing the total disbursement to more than $558 million, or 55 percent of the total project value

Lebanon central bank chief’s brother skips fraud probe hearing

Governor Riad Salameh is being investigated alongside his brother Raja Salameh in Lebanon and in at least five European countries over allegedly taking more than $300 million from the central bank by collecting commissions

Lebanese, EU legal teams to cooperate in Central Bank probe

Lebanese and European judicial authorities have agreed to exchange information about their probes of Lebanon's Central Bank governor who has been accused of corruption

UAE Corporate Tax: 5 points UAE free zone businesses need to look into

Small Business Relief not for ‘qualifying free zone person’, even with revenues under Dh3m

UAE to offer corporate tax relief to ‘public benefit’ entities

Organisations that qualify for the exemption include entities that focus on activities such as philanthropy, community services and corporate social responsibility

French prosecutors accuse Lebanon central bank chief of hiding fraud

The accusation of using fake account statements, which had not previously been reported, is contained in documents sent to Salameh by French judicial authorities ahead of a planned hearing in France on May 16

Turkish Central Bank set to meet for interest rate

In his speech on April 21 in Istanbul, President Recep Tayyip Erdoğan said both interest rate and inflation would decline.

UAE free zones launch special rates as new businesses consider mainland options, corporate tax

Free zones line up new incentives as new overseas entities plan launches in UAE

Doing business in the UAE: an introduction

The UAE is a federation of seven emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al-Khaimah, Shajah and Umm Al Quwain.

Oman: CBO issues treasury bills worth $109.1mln

Treasury bills are short-term highly secured financial instruments issued by the Ministry of Finance

Dubai Court orders KPMG to pay investors $231m over Abraaj fund audit

KPMG Lower Gulf says it has appealed against the decision to a higher court

MENA economies to expand at a slower pace in 2023 - IMF

For GCC oil exporters higher prices will offset impact of lower growth

JCB and The Saudi National Bank Sign an Agreement

This step will allow JCB cardholders visiting the Kingdom, whose numbers are increasing in the global markets

The use of British Virgin Islands Trusts in the Middle East

The BVI specialist trust legislation is the Virgin Islands Special Trusts Act (VISTA), which disengages certain traditional trustee duties in relation to certain trusts that own shares in BVI companies.

Kuwait partakes in IMF and World Bank forum

About 200 parliamentarians from about 100 countries are participating in the Global Parliamentary Forum

What the UAE’s corporate tax means for SMEs

Understand a company's revenue stream to know the beneficiary’s identity from a taxation perspective

Abu Dhabi sees 40% drop in labour dispute cases

The decline in labour cases reflects the success of the Abu Dhabi Judicial Department’s campaigns to raise awareness of the legal rights of employees

Bahrain unveils new ‘golden licence’ to attract investors

The new licence is part of an economic recovery plan launched by the Gulf state in October 2021 to boost investment and job creation

UAE Central Bank cancels licence of Russia's MTS Bank in Abu Dhabi

The lender will have to wind down its operations within six months from the date of the decision

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