Gulf banks could see second wave of mergers after pandemic dust settles
The impact of the novel coronavirus on the global economy is growing and continues to shock the markets in unprecedented…
Comment & Analysis
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JPMorgan sees more Gulf companies linking up but no liquidity crunch
JPMorgan expects more consolidation among Gulf companies this year in sectors such as banking, real estate and hospitality, but it…
How much will oil price drop hit the Middle East wealth market
The economies and infrastructure in the Middle East have been primarily built up by the wealth generated from its large…
COVID-19 relief: Dubai family-owned businesses want 50 per cent cuts on utility bills, VAT reduction
Business leaders of some of the biggest Dubai-based companies have requested customs duties should be cut by 50 per cent…
UAE banks report exposure to commodities broker in liquidation
UAE banks have started reporting their exposure to the Dubai subsidiary of Phoenix Commodities, which recently filed for liquidation. …
Central Bank of Kuwait reports BoP surplus of KD 821.2 mln. in '19
The Central Bank of Kuwait said Monday the balance of payments (BoP) registered a surplus of KD 821.2 million (nearly…
Egypt’s growth to slow sharply in 2020 because of coronavirus pandemic
Egypt’s GDP growth falls to 0.5 per cent in 2020 due to coronavirus pandemic Economy seen avoiding contraction with 5.2…
EBRD expects Turkey’s economy to bounce back by 6 per cent in 2021
Turkey’s GDP expected to fall by 3.5 per cent in 2020 because of coronavirus pandemic Rebound of 6.0 per cent…
Abu Dhabi per capita income substantially higher than its peers: Moody's
Abu Dhabi's per capita income is substantially higher than its sovereign peers including the GCC countries, according to Moody's Investors…
African banks confident on growth of cashless payments
Six in ten banking executives in Africa and Middle East think cash will dip below 5 per cent of retail…
The United Arab Emirates: A Key Piece in the Gobal Money Laundering Puzzle
By the normal standards of the Financial Action Task Force (FATF), a recent report into attempts by the United Arab…
UAE not to hike VAT rates and follow Saudi move
The UAE has no plans to increase its VAT (value-added tax) rate, according to Younis Haji Al Khouri, under-secretary in…