Sunday 23 October 2016

VAT ‘could be an uphill battle for GCC businesses’

The introduction of a VAT system in GCC states could be an uphill battle for the businesses to comply with, said an industry expert. “This indirect tax system is new to the region, although it has been widely used by a number of other countries for quite some time now. At B


Takaud-Amwal tie-up to boost investor options

Bahrain-based Takaud, a top provider of savings and pension solutions, has signed a strategic partnership with Amwal, Qatar’s first regulated investment company, to offer better investment prospects for clients. The agreement was signed at the Four Seasons Hotel, Manama, fo


Eat app raises $2 million in new funding

Eat, a restaurant discovery and real-time reservations platform has raised a post-seed funding round of $2 million, led by Bahrain-based investment fund Pinnacle. The company has raised $2.9 million in funding to date. The latest round of investment will be utilised to expand eat


Nasdaq Dubai adds two firms to futures market

Nasdaq Dubai will add Abu Dhabi Commercial Bank (ADCB) and Union Properties (UPP) to its equity futures market, raising the number of leading UAE companies on which futures can be traded to nine. The market opened on September 1, 2016, to provide regional and international invest


Moody's maintains stable outlook on UAE banking

Moody's Investors Service's outlook for UAE banking system remains stable, reflecting the rating agency's view that resilient capital and liquidity buffers will help to protect banks' credit profiles despite the continued economic slowdown.  The outlook expre


GCC non-oil growth to increase next year: IMF

Economic activity in the GCC region is projected to slow this year despite continued expansion in hydrocarbon output. However, non-oil growth could marginally increase next year, said an IMF report on regional economic outlook. The slump in oil prices and ongoing conflicts contin


Ahli United wins quality recognition award

Ahli United Bank (AUB), Bahrain’s largest lender, has been awarded the Elite Quality Recognition Award by JP Morgan Chase Bank, reported the Gulf Daily News, our sister publication. To read further, please visit


Emirates NBD unit signs deal with UTI for Indian funds

Emirates NBD Asset Management today announced its collaboration with UTI International, one of India’s largest money managers, for India funds. The agreement aims to increase Emirates NBD Asset Management’s global fund portfolio. The partnership’s


BIBF, Mastercard in tie-up to offer skills boost

The Bahrain Institute of Banking &Finance and Mastercard have announced a new collaboration in Bahrain aiming to helping professionals in the payments industry to enhance their skill sets and stay up-to-date on industry trends. The BIBF is the training arm of the Central Bank


Saudi Arabia set for huge international bond sale

Saudi Arabia is set to launch its first international bond sale on Wednesday to help ease an economic downturn caused by oil price slump, reports said. The kingdom is targeting between $10 billion and $15 billion in the bond sale. This will make it the largest issue of internatio

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