04/13/2022
UAE’s DMCC records 665 new company registrations in Q1 2022
It the best first quarter since the inception of the freezone in Dubai 20 years ago
Legal, Tax, Regulation & Compliance
04/13/2022
Saudi competition authority approves 88% more mergers & acquisitions requests in Q1
General Authority for Competition received 101 application in 1Q 2021, +42 percent year-on-year
04/12/2022
Saudi EXIM Bank Approves Credit Worth $1.4 Bn to Boost Alternative Economy
The value of insurance applications amounted to SR3 billion during the same period, allocated to local companies, financial institutions, and banks.
04/11/2022
Dubai Ruler issues decree to subject public-interest entities to financial regulatory oversight
Public-interest entities will be required to maintain up-to-date financial and administrative records so that Dubai’s Community Development Authority can review them when needed
04/11/2022
Banks close “unused” bank accounts for 6 months
Emirates Today” published an investigation into customer complaints that thousands of dirhams had accumulated due to forgetting old bank accounts earlier
04/11/2022
Severe shortage of workers; 7,000 over 60s expat ‘craftsmen’ leave for good
The recent government decisions regarding a complete return to the manifestations of normal life to what it was before the emergence of the Covid- 19 pandemic revealed the severe shortage of expatriate workers, which the Kuwaiti labor market suffers from
04/11/2022
UAE’s Emirates ID replaces visa sticker in passport as proof of residency from today
Residents can also get a soft copy of Emirates ID, residence visa stickers for reference
04/08/2022
QIB completes legal procedures to raise foreign ownership limit up to 100%
The decision (to allow up to 100% FOL) is expected to enhance the country’s economic activity and attract overseas funds in efforts to diversify the economy
04/08/2022
IMF, Lebanon reach draft funding deal, subject to reforms
Legislative elections are scheduled for May 15, after which a new government will need to be formed
04/08/2022
UAE’s DFSA introduces ‘whistleblowing’ regulatory regime
DFSA’s regime aims to improve the whistleblowing culture among its regulated entities by increasing transparency around how they handle regulatory concerns
04/08/2022
QNB, QDB sign partnership agreement on 'Al-Dhameen' updated programme
It also includes a higher profit rate for all companies and does not require a percentage from entrepreneurs or investors.
04/08/2022
Egypt, World Bank hold talks over COP27
Fouad said that the conference will translate the decisions made at COP26 into operational steps
04/07/2022
Egypt to launch new phase of digital tax collection system by 1 July: Finance ministry
The system covers all tax types, including income taxes, freelance taxes, deductions and collection returns, value added taxes, and stamp taxes
04/07/2022
UAE’s economic growth on track for 4.2% GDP growth despite inflation rise: Central Bank
Inflationary pressures checkmated by rising dirham strength, says central bank’s update
04/07/2022
Kamco Invest shareholders approve distribution of 10 fils cash dividend
Al-Suwaidi: We fully endorse and support the sustainability strategy and the issuance of the first sustainability report for the year 2021
04/07/2022
PwC Middle East details six steps to develop sustainable Real Estate Markets in the region in a new report
To bridge the gap between high-performing Real Estate markets globally and those in the Middle East, PwC Middle East details six guiding principles for regulators in a new report titled Six Steps to Sustainability
04/06/2022
Lebanon judge lifts travel ban on 2 bankers
The measures affected the heads of Bank of Beirut, SGBL and Bankmed, in addition to Blom Bank and Bank Audi.
04/06/2022
Bank Nizwa signs agreement with Ministry of Labour to support ‘Sahim’ program
In accordance with the agreement, Bank Nizwa will provide timely and relevant Islamic finance options
04/05/2022
Standard Chartered: UAE requires AED 2.5trln investment to transition to Net-Zero
Report reveals potential impact of Net Zero on Household Consumption
04/05/2022
GTA sets April 30 last date for submitting tax returns
The General Tax Authority called on all Qatari companies to commit to submitting the tax return for the tax year 2021 before that date to avoid financial penalties in accordance with the Income Tax Law and its Executive Regulations, as the tax return must