Friday 28 July 2017

Firms urged to prepare for VAT

Companies in the region must begin preparing to ensure they remain compliant when Saudi Arabia's new value-added tax (VAT) regulations come into force, says Proven Saudi Arabia, a leading business support provider. As many businesses trade across the GCC, it is imperative tha


BCG expands roster of Middle East partners

The Boston Consulting Group (BCG) has announced the promotion of three of its Middle East principals to partners to bolster its Energy, Industrial and Consumer Goods, and Public Sector practices. Effective immediately, Shelly Trench, Giovanni Moscatelli and César Sánchez


Bank ABC Islamic posts 41pc rise in H1 profit to $15m

Bank ABC Islamic today announced that its net profit for the first half of 2017 was $15.1 million, 41 per cent higher than the net profit of $10.7 million reported in the first half of 2016. Second quarter 2017 net profit of $8.7 million was 39 per cent higher than $6.3 million achieve


Bit Coin Global to launch of Money Trade Coin

Bit Coin Global FZE, a leading company in crypto market investment solutions, has  announced the soft launch of the crypto currency (payment solutions) Money Trade Coin on July 29 at the Country Club Hotel Dubai, UAE. In the presence of chief guest Govindaji (Indian Actor),


Profitability for Emirates NBD 'will remain resilient'

Profitability for the Dubai-based Emirates NBD (A3/A3 stable, ba1) will be resilient to the three main challenges facing the bank -- the loss of its market leader position, the softer economy and rising interest rates, according to Moody's Investors Service. Moody's repor


ADGM arbitration centre by early 2018

Abu Dhabi Global Market (ADGM) has announced the establishment of an arbitration hearing centre on Al Maryah Island by early 2018. The milestone augments the recent development and agreement with world-leading arbitral institution, the International Court of Arbitration of the In


UAE banks to get SWIFTSmart eLearning platform

Swift has announced that its SWIFTSmart eLearning platform is growing at a rapid rate and now offers training modules to all banks in the UAE. Employees of over 170 banks, financial institutions and corporate customers in the UAE will be able to use SWIFTSmart modules for their t


QIC Group records 14pc growth in premiums

Qatar Insurance Company (QIC), a leading insurer in Qatar and the Middle East North Africa (Mena) region, recorded a growth of 14 per cent in gross written premiums (GWP) to QR6.24 billion ($1.71 billion) in the six months ended June 30, 2017. Against the backdrop of a politically driv


ADBC e-links with 36 federal, local departments

The Abu Dhabi Business Centre (ADBC) has complete e-linkages with each of the General Authority of Civil Aviation (Gaca) and the Abu Dhabi Ports, bringing to 36 the number of local and federal departments covered by the e-linkage project. Now the project accounts for 97 per cent


MBRF-Beehive partnership enables SME financing

Mohammed Bin Rashid Fund (MBRF), the financial arm of Dubai SME, has been named guarantor to an SME for a loan of Dh500,000 ($136,000) from Beehive, the regulated peer to peer finance platform providing online financing solutions. The loan marks the first such deal concluded unde

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