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Saudi to introduce bankruptcy law early next yearSaudi Arabia is set to introduce a bankruptcy law early next year as part of efforts to attract foreign investment and encourage private sector activity, said a report, citing Saudi-owned broadcaster Al Arabiya reported citing the kingdom's Trade and Investment Mminister Majid Al-Qasabi.& More… |
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Global economic growth to forecast to hit 3.5pcThe global economy started 2017 strong with real GDP growth gaining momentum and rising to 3.6 per cent in Q1 2017 and the previous uncertainty surrounding the global growth forecast receded since May 2017, says a Euromonitor International report. More… |
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ADGM partners with Japan body for fintechThe Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and Financial Services Agency of Japan (FSA) have completes a framework for co-operation to promote innovation in financial services in Japan and ADGM. This co-operation framework recognis More… |
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UAE offers $7.5bn in grants in H1; up 78pcDomestic and international grants provided by the UAE rose 73.8 per cent to Dh 27.7 billion ($7.5 billion) during H1 2017, from a total of Dh 15.9 billion in 2016, according to the UAE Ministry of Finance. ''Grants provided by the UAE in the first six months of the year a More… |
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KHC closes Banque Saudi Fransi stake dealKingdom Holding Company, an investment firm owned by Saudi billionaire Prince Alwaleed bin Talal, said it has completed the acquisition of 16.2 per cent stake in Banque Saudi Fransi for SR29.5 ($7.8) per share; a deal worth SR5.8 billion ($1.5 billion). The Saudi group had More… |
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Saudi to launch $2.6bn entertainment investment firmSaudi Arabia’s Public Investment Fund (PIF) is in the process of developing a new company with an initial capitalization of SR10 billion ($2.66 billion) to act as its investment arm in the kingdom’s growing entertainment sector. The company will play an active investm More… |
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InfoFort launches VAT compliance solutions for GCCInfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, has launched VAT Compliance and Automation Solution for the GCC markets. The GCC-wide value-added tax (VAT) implementation that comes into effect in 2018, impacts how More… |
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Islamic banking products ‘losing appeal in UAE’The number of UAE consumers applying for Islamic banking products has declined since last year, according to a new study from yallacompare, a leading comparison site in the Middle East. By analysing statistics from its financial comparison platform, yallacompare can reveal that, More… |
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GCC assets under management set to double to $110bnGCC fund managers expect to more than double their assets under management (AuM) from $45.8 billion in 2016 to $110.9 billion in 2020, according to a new report published by the Dubai International Financial Centre (DIFC). Published in partnership with Thomson Reuters, the &ldquo More… |
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Egypt benefits from strong reform momentum: Moody'sEgypt's credit profile (B3 stable) reflects its large and diversified economy and strong reform momentum, set against constraints which include its very weak government finances, Moody's Investors Service said in an annual report today. The report, "Government of Egy More… |
