Saudi Arabia: VAT rate to increase to 15% as of 1 July 2020
On 11 May 2020, Saudi Arabia’s Minister of Finance announced that the value-added tax rate will increase to 15% from…
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Emirates NBD and Urban partner to create a financing program
Emirates NBD has partnered with property technology start-up Urban to create a financing program for UAE property rentals. Launched…
BlackRock sees Saudi Arabia as ‘attractive investment’ amid coronavirus fears
A senior official of BlackRock, a global investment management corporation, says that Saudi Arabia represents an attractive, resilient investment at…
Fiscal nightmare ties up Kuwait's stimulus with 40% deficit
Crisis economics gets complicated when the budget deficit could be equivalent to two-fifths of a nation’s entire output. It’s…
SABB completes 1st Phase with “Wethaq”
The Saudi British Bank (SABB) has completed the first phase of automating bank guarantees through “Wethaq” digital platform,recently launched by…
Where do we gold from here
The extensive global monetary and fiscal stimulus measures that have been rolled out in response to the crisis, especially in…
Dubai’s ICD faces ‘adjustment’ in wake of pandemic downturn
The Investment Corporation of Dubai (ICD), the sovereign wealth fund that holds some of the emirate’s most valuable assets, is…
Ready for the Digital era in Treasury ?
Amid the COVID-19 pandemic, the expanding role of the treasury function and the accelerated pace of innovation and technology, treasury…
Etisalat CEO Al Abdooli resigns, Dowidar appointed acting chief
Etisalat Group announced on Wednesday the resignation of Saleh Al Abdooli as the group's Chief Executive Officer. In a…
Moody’s affirms QIIB rating at ‘A2’ with stable outlook
QIIB has announced that the credit rating agency Moody’s has affirmed the bank’s rating at ‘A2’ with a stable outlook,…
GCC banks consolidation drive to continue in 2020, says KPMG
Lenders in the GCC have been rapidly consolidating as they seek to remain competitive, KPMG said and noted the drive…
Qatar banks’ net profit growth averages 5.5% in 2019: KPMG
Qatar’s banking sector saw “positive” results in 2019, with an average 5.5% growth in net profit, which is attributable to…