03/14/2023
Alvarez & Marsal Releases FY2022 UAE Banking Pulse
A&M’s UAE Banking Pulse examines data from the 10 largest listed banks in the UAE, comparing the FY’22 results against FY’21 results.
Legal, Tax, Regulation & Compliance
03/13/2023
Silicon Valley Bank collapse will have very little effect on Kuwaiti banks - Kuwaiti central bank
Kuwait's state news agency reported that the central bank governor had said that the exposure of the local banks to SVB was very limited and that the banks assured him that their business would be barely affected.
03/10/2023
Qatar's FX reserves, hard currency liquidity rose to $64.56bln in February
The bank's international official reserves witnessed a similar growth to reach 176.8 billion Qatari riyals, from 175.8 billion in January.
03/10/2023
Saudi makes visa rule change; opens doors to all GCC residents
Previously, the kingdom was giving eVisas to only those GCC residents with occupations listed on its approved list
03/10/2023
Price competition ‘erodes’ profitability of UAE insurers
However, outlook for UAE, other GCC markets remains stable, says credit rating firm AM Best
03/10/2023
Saudi Arabia, Germany sign 7 deals to enhance investment cooperation
The forum featured panel sessions to explore private sector partnership opportunities.
03/08/2023
Saudi mining giant Ma'aden gets DIFC captive licence
With 17 mines and sites and 6,000 direct employees, Ma'aden is among the world's fastest-growing mining companies
03/08/2023
UAE tax residency certificates: Step-by-step guide, cost to get them
According to the Federal Tax Authority website, it takes about 45 minutes to submit an application
03/06/2023
Clifford Chance and AS&H announce JV in Saudi Arabia to create AS&H Clifford Chance
The restructuring in Saudi Arabia has the full support of the Clifford Chance global partnership
03/01/2023
UAE central bank revokes licence of Dollar Exchange over serious misconduct
Dollar Exchange’s licence is second to be revoked this week
03/01/2023
UAE Corporate Tax: What real estate investments can mean for a business
The real estate held under the company’s name should be treated as that of the company and not of its owners.
02/28/2023
Central Bank of UAE revokes licence of 'Dollar Exchange' house
The sanction is the result of the examinations’ findings conducted by the CBUAE, which revealed serious regulatory misconduct by the exchange house
02/28/2023
GCC to appoint chief negotiator next month for trade talks with India – report
The intent of a free trade deal has been announced and meetings will start soon, says a source
02/27/2023
UAE, Egypt, Jordan, Bahrain sign industrial deals worth $2bn
The agreements were signed at the third Higher Committee meeting of the Industrial Partnership for Sustainable Economic Development, held in Amman on February 26
02/27/2023
Qatar Central Bank issues QR 1 billion treasury bills due on March 2
Central banks usually aim, through the periodic monthly issuance of treasury bills or short-term Islamic sukuk in favor of local banks, to control liquidity rates and the money supply in the market.
02/27/2023
'Embezzled' Lebanese cash in Swiss banks: media report
The Swiss weekly said $250 million was left on Raja Salameh's personal account with HSBC's subsidiary in Geneva.
02/24/2023
UAE watchdog seeks views on family office regulation shake-up
The regulator wants views of family offices, their advisers, potential applicants for family office status, and other industry participants by 24 March 2023.
02/24/2023
Lebanon central bank governor charged with money laundering - judicial source
Charges come after 18-month probe into whether Salameh and his brother embezzled $300m
02/23/2023
Dubai International Finance Centre Grows at Record-Breaking Pace in 2022
Combined revenues exceed USD272 mn for the first time
02/23/2023
How Abu Dhabi Fund’s first development project in Nigeria will serve the community
The project is expected to stimulate commercial activities and improve transport links between the main cities in the country