04/12/2021
IMF hikes growth forecast for the Middle East, says recovery will be ‘divergent’
Real GDP in the MENA region is now expected to grow 4% in 2021, up from the fund’s October projection of 3.2%.
Legal, Tax, Regulation & Compliance
04/12/2021
Banks in Egypt increase capital to comply with new banking law
Law stipulates minimum capital of EGP 5bn for banks operating in Egyptian market, $150m for foreign bank branches
04/12/2021
Zu'bi & Partners won at the Chambers middle east awards 2021
The award was presented on an online live broadcast on 7 April 2021, organized by Chambers and Partners, the market leader in legal research and publishing
04/09/2021
Emirates NBD to sell controlling interest in Dubai Bank to Abu Dhabi-based Eradah Capital
Statement to Dubai Financial Market said transfer is expected to complete this year
04/09/2021
Central banks turn back to gold purchasing; global reserves rise by 8.8 tonnes
Buying activity had slowed down in second half of 2020
04/09/2021
Qatar participates in GCC meeting on municipal legislation
Participants stressed during the meeting on the importance of activating the role of community engagement in regulation and inspection by using social media, and promoting that sides in all fields of municipal work.
04/09/2021
Another Record-Breaking Year For Middle East Debt Markets
Middle Eastern states hit the international debt markets with gusto in 2020, setting a record. Issuance is expected to be even higher this year.
04/08/2021
PwC’s Academy brings internationally recognised VAT diploma to Oman
The VAT diploma is delivered by highly experienced tax professionals and is a modular format, split into four manageable sections to accommodate the demanding schedule of working professionals.
04/08/2021
CMA issues administrative decision
The decision excluded the international bonds issued by the Omani Government
04/08/2021
Gulf growth forecasts raised by IMF
The United Arab Emirates, the Gulf’s second largest economy, will see growth of 3.1 percent this year
04/07/2021
Bank Nizwa approves distribution of cash dividend for shareholders
The AGM also disclosed the Sharia Supervisory Board’s Report for the year ending December 31, 2020.
04/07/2021
QFB improves balance sheet, overall liquidity position in 2020: Chairman
During the meeting, the AGM discussed and approved all items on its agenda, in addition to the business plan for the financial year of 2021.
04/07/2021
Lebanon’s central bank to commit to audit as Macron urged to freeze ‘doubtful’ assets
French President Emmanuel Macron should freeze suspect assets held by Lebanese officials in France to break a “political-economic mafia” that has plunged Lebanon into crisis and misery, an open letter said Tuesday.
04/07/2021
Middle East's life sciences players face high corruption risk
Other windows for corruption in life sciences include charitable donations, grey areas around public private partnerships and patient support programmes.
04/07/2021
Kuwait wealth fund reaches initial agreement on KPC dividends - source
KPC has owed for years about $23bln in dividends to the General Reserve Fund
04/06/2021
Mohammed bin Rashid approves Emirates Development Bank strategy
Allocating AED30 billion to support priority industrial sectors over five years
04/06/2021
Saudi Arabia has come a long way in diversifying economy, World Bank says
The World bank is ready to support regional countries technically and financially on their economic reform journeys
04/06/2021
Sawari Ventures raises US$71M for investing in Egyptian startups
The fund has increased its investment in high-growth Egypt companies to $68 million.
04/06/2021
Egypt, Japan sign MSME facility agreement worth $100m
New facility aims to boost MSMEs to lead Egypt’s economic growth
04/06/2021
UAE central bank issues best practice rules for financial p
The regulation "strengthens governance over the design, promotion and sale of financial products and services, and promotes responsible financing practices and appropriate disclosure of risks".