Monday 21 January 2019

Bank ABC gets top recognition

Bank ABC, a leading player in the region's banking industry, was recently named the Best Trade Finance Provider in Bahrain for the year 2019 by New York-based Global Finance magazine. Global Finance selected the best trade finance banks in around 50 countries or regions, incl


UAE, Saudi Arabia announce seven joint initiatives

Seven strategic initiatives in the fields of services and financial markets, tourism, aviation, entrepreneurship, customs and security, were announced at the meeting of the Executive Committee of the Saudi-Emirati Coordination Council in Abu Dhabi. The initiatives have hailed by


UAE issues guide on foreign business refunds

The UAE’s Federal Tax Authority (FTA) has outlined four conditions that would allow foreign businesses to recover value-added tax (VAT) incurred in the UAE in a new guide published on its official website, a media report said. To be eligible for the VAT refund, the first co


Experts to discuss RegTech innovation at Bahrain event

Bahrain FinTech Bay is set to organise its second biggest conference RegFact, an event dedicated exclusively to the regulation and compliance ecosystem targeted at regulators, senior executives responsible for risk, compliance, financial institutions, technology vendors, and industry thought


UAE issues VAT refund guide for foreign businesses

The UAE Federal Tax Authority (FTA) has outlined four conditions that would allow foreign businesses to recover value added tax (VAT) incurred in the country in a new guide on “VAT Refunds for Business Visitors”, published on its official website.  


Nasdaq launches futures trading on MSCI’s UAE index

Nasdaq Dubai has launched futures trading on the MSCI United Arab Emirates (UAE) equity index, in the latest expansion of the exchange’s futures market. The contracts are designed to appeal to international and regional investors seeking exposure to leading UAE companies, said a


Emirates NBD 2018 profit surges 20pc to record $2.72bn

Dubai-based Emirates NBD, a leading bank in the region, has posted a record net profit of Dh10 billion ($2.72 billion) for 2018, marking a 20 per cent year-on-year growth. The bank achieved another milestone as total assets surpassed Dh500 billion for the first time. Net interest


UAE consumer confidence bounces back in Q4

Consumer confidence in the UAE rebounded in the fourth quarter of 2018, as residents absorbed the impact of VAT and high expenses incurred over the summer, said a report from yallacompare, a leading comparison site for financial products. During the fourth quarter (Q4) of 2018, y


UAE five-year growth to average 3.8pc: study

The UAE is forecast to achieve an average real GDP growth rate of 3.8 per cent between 2019 and 2023, supported by a rise in investment flows and private consumption, according to new analysis from Dubai Chamber of Commerce and Industry. The findings of the analysis, based on the


Citi UAE opens Citigold lounge in Abu Dhabi

Citi UAE has announced the opening of its Citigold Lounge in Abu Dhabi designed to provide enhanced professional wealth management services across the UAE.   The centre was inaugurated at a ribbon-cutting ceremony attended by Gonzalo Luchetti, Citi EMEA and Asia

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