12/01/2020
Climate change - The low-carbon transition
These policy shifts will drive major changes in business across entire value chains from product design to production, distribution and recycling.
Legal, Tax, Regulation & Compliance
12/01/2020
Investors in GCC Bank Additional Tier 1 Capital Face Contrasting Prospects
It also affects investors’ liquidity and investment strategy, as typically investors expect their AT1 to be called on the first call date.
12/01/2020
Saudi Central Bank extends loan deferral programme
The extension until the end of the first quarter of 2021 impacts 77bn riyals worth of loans
12/01/2020
Al Baraka Banking Group EGM approves initiation of the license conversion of its Bahrain-based parent company
The meeting, which took place virtually, was presided over by the ABG's Chairman, Shaikh Abdullah Saleh Kamel, and attended by members of its Board of Directors, senior executive management, representative of the Unified Shari'a Supervisory Boar
12/01/2020
PwC helps Saudi government with water privatisation initiative
With its crucial position in Saudi economy and Vision 2030, the government decided to reorganise the water production segement.
12/01/2020
Gulf regulators must clarify their cross-border responsibilities
Better due diligence and oversight is needed as the pandemic takes its toll
11/30/2020
UAE foreign ownership and investment laws reformed
The decree brings a number of changes to company law in the UAE, most of which apply to provisions for limited liability and joint stock companies.
11/30/2020
Employment regulations in the Abu Dhabi Global Market
We set out below the main employment law themes that senior management teams, HR managers and in-house legal teams need to be aware of under the ADGM Employment Law:
11/30/2020
Bahrain awards US $2.7 billion worth of contracts in first nine months of 2020
Robust figures come despite the debilitating impact of COVID-19 on the global economy
11/27/2020
Top US consultancy withdraws from 'crucial' central bank work
The pegging was managed by the central bank borrowing from private banks, who depended on depositors attracted by huge interest rates of up to 14%.
11/27/2020
Banque Misr, NBE acquire 40% of stocks of Western Union's representative in Egypt
Chairman of the National Bank of Egypt Hisham Okasha said that the move comes within the bank’s efforts to merge customers targeted into the banking sector as well as using official means for transferring funds in order to increase the flow of forei
11/27/2020
Egypt’s central bank issues LE 21B on T-bills Thursday
Egypt's 2020/2021 draft budget aims to reduce public debt of GDP to 82.7 percent by end of June 2021, up from earlier target of 82.5 percent by the end of June 2020 and to 77.5 percent by the end of June 2022.
11/27/2020
Egypt to Issue First Sovereign Islamic Sukuk
Generally known by their Arabic name, sukuk are financial products compliant with Shari’a law.
11/27/2020
Egypt banks step up anti-virus efforts
The federation's latest plan includes a follow-up on alternative workplaces to allow departments to continue working in cases of forced interruption.
11/27/2020
Dubai Court orders whopping Dh1.6b compensation to founder of Tameer Real Estate Company
Experts' panel finds in favour of Omar Ayesh, who built one of the tallest towers in Dubai
11/26/2020
Bank CEOs welcome TESS extension by CBUAE
Governor of the Central Bank of the UAE commenced the meeting by recognizing and thanking all CEO's and their staff
11/26/2020
QFC unveils policy statement on licensing new global law firms
The policy further stipulates that while exemptions may be made, subject to the QFC Authority’s absolute discretion
11/26/2020
Turkey Dismantles Another Key Policy to Cool Lending Boom
Banking regulator repeals asset-ratio rule at the end of 2020
11/26/2020
Turkish central bank raises swap auction limit to 60%
The new regulation will give banks more room for lira and currency liquidity management.
11/26/2020
Qatar welcomes skilled Turkish workforce in private sector
He said the trade between both countries has increased by 136 percent from $908m in 2016 to $2.2bn in 2019, while it hit $1.2bn in first half of 2020.