CIB obtains $100m support loan from CDC
The Commercial International Bank – Egypt (has announced it has signed an agreement to obtain a $100m support loan from…
Regulation, Risk & Compliance
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Norton Rose Fulbright forced to quarantine Dubai staff after infection
Norton Rose Fulbright shut down its Dubai office for a fortnight after a staff member contracted COVID-19, but the firm…
UAE needs to bring in the ‘revenge’ spenders
On May 5, the Shanghai government introduced the “Double Five Shopping Festival”, scheduled to last for two months, providing mega…
Abu Dhabi's KBBO to come up with restructuring plan after taking a hit with NMC exposure
Abu Dhabi based investment group, KBBO, has appointed advisors to come up with a restructuring plan for its liabilities and…
UAE among most active countries in Middle East in providing economic incentives
The Ministry of Economy has said that the UAE is among the most active countries in the Middle East and…
Gulf’s betting big on banking consolidation, and it will pay off
GCC economies were moving towards more sustainable ways well before the COVID-19 pandemic struck. This was caused by the 2016…
Citi targets more growth in Saudi Arabia after adding over 20 bankers in two years
Citigroup is planning to hire more bankers in Saudi Arabia for its direct custody business after adding more than 20…
Shock move comes as PM warns of ‘financial blockade to starve the people’
Salim Sfeir, chairman of the Association of Banks in Lebanon (ABL), said that US dollars will be supplied by the…
AIB into private hands
The Central Bank of Egypt has given the green light to the Sovereign Fund of Egypt and leading local investment…
Saudi Arabia: 15% VAT hike comes into effect
Saudi Arabia’s decision to raise the value-added tax rate to 15 per cent was enforced on Wednesday on all goods…
Saudi Arabia facilitates corporate money transfer abroad
Saudi Arabia’s Ministry of Commerce has addressed the problems facing companies and institutions in financial transfers outside the Kingdom, in…
UAE Central Bank and ADGM invite FinTech firms for an innovation challenge
The Central Bank of the UAE and the Abu Dhabi Global Market, the capital’s international financial hub, on Wednesday invited…