Lothian Pension Fund urged to divest from Bank Hapoalim
The Lothian Pension Fund (LPF) has been urged to divest from Bank Hapoalim after its recent inclusion on the UN…
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Dubai businesses ask for more state help to survive coronavirus
Dubai’s private sector has proposed government interventions including state subsidised loans, assistance in covering salaries and lower taxes, to help…
FAB Switzerland renews its long-term contract with Avaloq
The Swiss subsidiary of First Abu Dhabi Bank (FAB) has selected Avaloq’s business process as a service (BPaaS) solution for…
Pandemic shock leads to ‘overhaul’ of Saudi finances
The full scale of the economic shock from the coronavirus pandemic has been revealed in radical measures taken by Saudi…
Saudi move could be followed by more tax hikes across Arab world
More Arab economies may need to follow Saudi Arabia in hiking taxes to replenish reserves that have been savaged by…
IMF approves $2.77 bn in emergency pandemic aid for Egypt
The International Monetary Fund on Monday said its executive board approved $2.77 billion in emergency financing to help Egypt grapple…
DFSA takes regulatory action against two firms and three individuals
Dubai Financial Services Authority, the regulator of Dubai International Financial Centre , is to impose fines on two firms and…
Bin Aweidha confirms to Banking Day that World Investments plans to go ahead with Xinja funding
A prominent Dubai-based lawyer has a good rule of thumb for gauging the importance of myriad minor royals in the…
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…
Abu Dhabi's Mubadala hires banks for bond issues – sources
Abu Dhabi’s state fund Mubadala has hired banks for a potential three-tranche bond issue consisting of six-year and 10-year conventional…