Wednesday 25 April 2018

Citi launches cashback credit card in UAE

Citi, a leading global bank, recently launched the Citi Cashback Credit Card in the UAE, in response to recent survey findings. The study conducted by Citi and Publicis Media revealed that 67 per cent of residents in the UAE consider cashback to be one of the most important featu


Invita in tie-up to automate third-party claims

Bahrain based Invita Claims Management Company (ICMC) has signed a contract with global insurance IT solutions provider Beyontec to implement a core system that can automate the processes and transactions to administer faster third-party claims services in the country. Invita Cla


90,000 UAE firms to pay VAT by month-end

The UAE’s Federal Tax Authority (FTA) has revealed that approximately 90,000 businesses registered for value-added tax (VAT), VAT, are required to submit their tax returns and pay their taxes no later than April 29. Over 85,000 of these companies had their first quarterly t


Tourism contributes $1.9bn to Sharjah’s GDP

The tourism sector in Sharjah has contributed over Dh7 billion ($1.9 billion), or 8.5 percent, to the emirate’s total gross domestic product (GDP) of Dh83 billion, said the chairman of the Sharjah Commerce and Tourism Development Authority. The yearly number of tourists vis


Injaz Bahrain, HSBC launch financial skills drive

Injaz Bahrain, a non-profit organization that empowers Bahraini youth, and HSBC launched the latest edition of the “More than Money” programme, marking 11 years of partnership between the two entities.  The successful “More than Money” programme provi


Ahli United donates to Islamic Association

Bahrain-based Ahli United Bank (AUB), a leading financial organisation, has donated BD25,000 ($66,110) to the Islamic Association in support of the Association’s initiative to provide interest-free educational loans to university students. AUB’s senior relationship ma


Saudi insurance sector net income down 55pc

The net income for the Saudi Arabian insurance sector fell by 55 per cent to about SR1.1 billion ($299 million) in 2017 when compared to SR2.5 billion the previous year, according to S&P Global Ratings. In addition, the sector posted a modest decline in gross premiums written


Bahrain Middle East Bank partners with ICIEC

Bahrain Middle East Bank (BMB) has partnered with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of Jeddah-based IDB Group, to consolidate its trade financing activities. Bahrain Middle East Bank (BMB) has partnered with the Islamic Co


UAE’s TRA oversees National Economic Register launch

The UAE’s Telecommunications Regulatory Authority (TRA) has completed a high level cooperation and coordination between concerned government entities as part of its mandate to manage the National Economic Register. The TRA also oversaw the signing of memorandums of understa


KPMG forums to discuss IFRS impact on Saudi firms

KPMG Al Fozan & Partners, a top provider of audit, tax and advisory services in Saudi Arabia, will conduct six workshops next month to discuss the impact of International Financial Reporting Standards (IFRS) adoption on Saudi companies. The workshops will be held in Riyadh, J

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