Tuesday 28 March 2017
 
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Accenture upgrades technology platform at NCB

Accenture, the global professional services company, has successfully completed the core system replacement of the retail banking operations at Saudi Arabia's National Commercial Bank (NCB). The highly complex project, which took approximately two years to complete, was part

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What are the key points of planned VAT in UAE?

The UAE Ministry of Finance (MoF) hosted a value added tax (VAT) briefing session for advisors recently. The session aimed to send a clear message to the market, which is that VAT is coming and businesses must begin to prepare immediately, said a newsletter from EY, a global leader in assurance

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Amazon reaches deal to buy Souq.com

Amazon, a global e-commerce leader, today announced that it has reached an agreement to acquire Souq.com, an e-commerce leader in the Middle East. Joining the Amazon family will enable Souq.com to continue growing while working with Amazon to bring even more products and offering

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Qatar to pump $6.2bn into UK infrastructure projects

Qatar is set to invest £5 billion ($6.24 billion) in Britain over the next three to five years, thus underscoring the country’s commitment to the UK despite economic uncertainties relating to Brexit, according to a report. The key sectors of infrastructure, real estat

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DIB launches Panin Dubai Syariah Bank in Indonesia

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has celebrated the launch of Panin Dubai Syariah Bank in Indonesia. Following regulatory approvals in 2015, Dubai Islamic Bank acquired almost 40 per cent in PT Bank Panin Syariah Tbk, which has been rebranded to Pani

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Aramco welcomes Royal Order slashing tax

Saudi Aramco today welcomed the introduction of the new tax regime for all hydrocarbon producers operating in the kingdom as another positive step in the diversification of the kingdom’s economy.   Amin H Nasser, president and CEO, Saudi Aramco, said the c

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Arqaam Capital launches global macro hedge fund

Arqaam Capital, a specialist emerging markets investment bank, has launched a global macro multi-asset fund as part of its growth-led strategy and diversification into the alternatives space. The Arqaam Global Macro Fund (AGMF) is a global macro systematic fund invested in liquid

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EFG Hermes posts 8-fold jump in net profit

EFG Hermes, a leading financial services corporation in the Middle East and North Africa (Mena), reported today an almost eight-fold increase in net profits to EGP1.6 billion ($87.91 million) for 2016. EFG Hermes posted revenues of EGP4 billion ($219.78 million), up 279 per cent

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SMEs at risk of digital exclusion, says ICAEW

Smaller businesses could be excluded from government plans to make tax transactions digital according to new research from ICAEW, a leading professional membership organisation of chartered accountants. The accountancy and finance body says smaller companies and many individuals

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Bahrain launches innovative investment market

Bahrain Bourse (BHB) held an official bell-ringing ceremony yesterday (March 26) at the bourse to inaugurate the Bahrain Investment Market (BIM), an innovative equity market designed specifically to offer the region’s companies an alternative cost-and time-effective means for raising ca

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