GCC Quarterly Review – Q1 2021
The first quarter of 2021 saw a number of legal developments in the Gulf Cooperation Council (GCC) region (Bahrain, Kuwait,…
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A fundamental change to doing business in the UAE: The new Economic Substance Regulations (ESRs)
The ESRs take aim at "light footprint" presences in the UAE taking advantage of the jurisdiction's lack of taxation, with…
UAE tourism seen as top play by Bank of America as global travel resumes
The UAE could be one of the biggest beneficiaries from a resumption of global travel in the second half of…
KPMG Report: Despite pandemic, Saudi banks have thrived
KPMG reported recently that the 11 Tadawul-listed banks stayed resilient at the end of December 31st, 2020 reflected signs of…
UAE central bank issues new rules for payments systems in country, settling dirhams overseas
The Central Bank of the UAE has issued two new regulations that apply to payment systems operating in the country…
Saudi Arabia closes March domestic sukuk program at $2.05bn
Saudi Arabia’s National Debt Management Center closed on Tuesday its local issuance for March, 2021 of the Kingdom’s sukuk, or…
Amazon to create 1,500 new jobs in Saudi Arabia
Amazon plans to hire 1,500 new employees in Saudi Arabia and add 11 buildings, the company said. The expansion…
Bahrain sees 140% rise in government health contracts
Bahrain’s Ministry of Health reported a 140 percent year-on-year increase in the total value of tenders awarded last year, as…
EFG Hermes delivers robust results despite a challenging operating environment, with Group revenues up 12% Y-o-Y to EGP 5.5 billion in FY20
EFG Hermes has reported its full year results for 2020, with revenues climbing 12% Y-o-Y to successfully surpass the EGP…
EFG Hermes Finance Signs Partnership with Universal Group to Create Bespoke E-commerce Platform
EFG Hermes has announced that its NBFI platform has signed a partnership with Universal Group to launch a bespoke e-commerce…
S&P reaffirms QIB ratings at ‘A-/A-2’ with stable outlook
Global credit rating agency Standard & Poor's has reaffirmed Qatar Islamic Bank’s long and short-term ratings at ‘A-/A-2’ with a…
QIIB improves quality of funding assets; non-performing loans drop to 1.6% in 2020: Al-Shaibei
QIIB succeeded in improving the quality of its funding assets portfolio by decreasing the non-performing loans to 1.6% in 2020,…