Tuesday 30 August 2016

Egyptian parliament approves VAT at 13pc

Egypt's parliament approved on Monday a long-awaited law introducing a value added tax of 13 per cent which will rise to 14 per cent in the next fiscal year. Parliament had been debating the law for weeks with several lawmakers opposing the government's initial proposal o


Mena M&A deal value down 10pc in H1

Announced M&A deal value in the Mena region decreased to $19.7 billion in the first half (H1) of 2016 from $21.9 billion in H1 2015, marking a decrease of 10 per cent, according to EY, a multinational professional services firm. UAE, Saudi Arabia and Egypt were the top three


Arqaam to host Mena Investors Conference

Arqaam Capital, a specialist emerging markets investment bank, has announced that it is hosting its third Mena Investors Conference on September 19 and 20 at The Park Hyatt Hotel, Dubai, UAE. Over the two days, Arqaam will bring together the senior management teams of over 70 Mid


KHCB wins awards for two products

Khaleeji Commercial Bank (KHCB), a Bahrain-based Islamic retail bank, has won awards from Global Banking & Finance Review, a financial portal and magazine, for two of its products, reported the Gulf Daily News, our sister publication. To read further, please visit


Qatar National Bank to open branch in India

Qatar National Bank (QNB) has been given approval to open a branch in India offering banking services, the Gulf region's largest lender said on Sunday. The bank, which in June completed the 2.7 billion euro purchase of Turkey's Finansbank, has a presence in more than 30 c


Saudi cbank foreign assets drop by $6bn

Net foreign assets at Saudi Arabia's central bank fell to $555 billion in July, down $6 billion from the previous month, as the government drew on reserves to cover a budget deficit caused by low oil prices, official data showed on Sunday. Assets shrank by 16 percent from a y


Emirates Islamic launches ‘Flex’ cards

Emirates Islamic, a top bank in the UAE, has launched a new range of cards that offers instant and flexible rewards redemption options. Emirates Islamic, a top bank in the UAE, has launched a new range of cards that offers instant and flexible rewards redemption options against s


Doha Bank opens branch in Kerala

Qatar’s Doha Bank recently opened a branch in Kochi in the Indian state of Kerala. Kerala’s Chief Minister Pinarayi Vijayan inaugurated the branch at Lulu International Shopping Mall in Edapally. Dr R Seetharaman, CEO, Doha Bank,


GIB sponsors Riyadh aviation summit

Gulf International Bank (GIB) has announced its sponsorship of the Global Ministerial Aviation (GMA) Summit in Riyadh, Saudi Arabia set to take place on August 29-31 at the Ritz Carlton. The summit is held under the patronage of The Custodian of The Two Holy Mosques King Salman B


Barclays app brings UK property offers closer to UAE residents

Barclays, a a transatlantic consumer, corporate and investment bank, has launched a smartphone application titled ‘Unlock Britain’, which offers users in the UAE valuable insights into the UK’s property market, educational system and international banking. Avail

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