02/15/2023
Authorities act against two companies for QR24 million tax evasion
The investigations revealed that two companies operating in the contracting sector had committed acts that constitute tax evasion crimes.
Legal, Tax, Regulation & Compliance
02/13/2023
Abu Dhabi Businesswomen Council and Wio Bank form partnership
Aims to empower female entrepreneurs with business banking solutions
02/13/2023
Sheikh Mohammed approves design for ‘flying taxi’ vertiports
The models are on display at RTA’s stand at the World Government Summit 2023.
02/10/2023
Sheikh Abdullah says Cop28 must 'unleash climate progress'
Minister of Foreign Affairs and International Co-operation convenes delivery committee meeting to discuss preparations for 13-day event at Expo City Dubai
02/10/2023
KFAED reconsiders policy of granting loans in Kuwait
The loans that the fund will give must be in line with Kuwait’s foreign policy
02/10/2023
Dubai’s DIFC enacts new regulations for family-owned businesses, UHNWIs
The new rules provide guidelines for family businesses holding assets and operating in or from DIFC, in support of their succession and legacy planning for future generations
02/10/2023
Kuwait plans to reconsider policy of providing aid to Arab and developing countries
The minister did not specify what the changes will be and the ministry did not immediately respond to a Reuters request for further details.
02/09/2023
A UAE-Hong Kong Free Trade Agreement will be a ‘logical step’, says Chief Executive John Lee
UAE is already Hong Kong’s biggest trade partner in the Middle East
02/09/2023
Flutterwave Expands into North Africa After Bagging PSP Licence in Egypt
“This, for us, is the beginning of other strategic wins in the North Africa and Middle East regions.”
02/08/2023
Dubai’s Virtual Asset Regulatory Authority issues regulations for 2023
As the authority providing VA oversight across Dubai with the exception of DIFC, VARA facilitates VA-associated economic stability, investor protection, and jurisdictional resilience
02/08/2023
Lebanon's banks close indefinitely after court ruling criticised
Decision by Association of Banks of Lebanon will not affect ATMs
02/07/2023
Saudi Arabia, Oman sign executive programme to enhance ICT infrastructure
The programme will boost cooperation to enhance telecommunication and information technology infrastructure, and high-speed digital interconnection for data exchange
02/07/2023
Saudi Arabia issues license for first foreign insurance company branch
The licensing of new foreign branch aims to fulfill the objectives of the “Rules for Licensing and Supervision of Branches of Foreign Insurance and/ or Reinsurance Companies in Saudi Arabia”
02/03/2023
Saudi Arabia, Oman sign 13 investment agreements, value exceeds SAR1bn
The agreements were signed at the Saudi-Omani Investment Forum being held in Riyadh
02/03/2023
Egypt keeps key policy rates unchanged
“The discount rate was also kept unchanged at 16.75 percent,” MPC said
02/03/2023
Crypto exchange Kraken shuts Abu Dhabi office
Kraken had said last year it would reduce its workforce by 30%, or about 1,100 employees, as rising rates and worries of an economic downturn soured the sentiment on crypto
02/02/2023
UAE regulator overhauls regimes for foreign and domestic funds
The SCA has so far approved around 2,000 foreign funds to promote and offer their funds through licensed promoters in the UAE.
02/02/2023
Most GCC central banks raise interest rates tracking US Fed move; Qatar holds
UAE Central Bank raised overnight deposit rate to 4.65%
02/02/2023
UAE central Bank raises base rate by 25 basis points
The central banks of Saudi Arabia and Bahrain also increased their interest rates after the US Federal Reserve raised its target interest rate
01/31/2023
UAE changes commercial agency law to encourage more foreign investment
The new law is a positive development in encouraging foreign investment and international businesses to continue to move to and operate in the UAE.