Allowing China to buy 5 per cent of Aramco would effectively mean cancelling the planned IPO
Greg Bankhurst has been appointed chief development officer
The UAE is set to introduce VAT from January 1, 2018
The Dubai government-controlled company is one of the world’s largest aircraft lessors
The central bank last raised the ratio in February 2016, to 90 per cent from 85 per cent
The Gulf countries are preparing to implement a 5 per cent value added tax rate next year
The Saudi insurance sector has come under pressure as the economy has slipped into recession this year
The UAE will begin implementing the tax in January 2018
SAMA did not elaborate on the nature of the bank’s “deficiencies”
QBCo is the largest private label food manufacturing company in Colombia
Pilot projects using the app will begin in the coming month
The PIF expects the investments to create 2,600 jobs and contribute SAR400m to GDP by the end of 2020
Latest official data showed the economy in recession during the second quarter
Klip allows the cashless spending, transfer and storage of money
The firm is eyeing businesses that “live around Aramco”
Residents were found to be avoiding retirement for financial and social reasons
The revisions will reduce requirements for obtaining a “management activity” licence
The downsizing will translate into a reduction of 15 to 20 per cent of the bank’s staff in retail services
On Friday FTSE said it would reevaluate Saudi’s emerging market index inclusion in March next year
Mubadala suffered a net loss of Dhs4.7bn in the first half of 2016
Wednesday’s issue was split into three tranches
The Middle East Venture Fund III will invest in early-stage and growth-stage tech companies
Saudi Arabia could issue up to $10bn, banking sources said
The funds will target annual returns of 6-7 per cent
The loan will be used to fund operational expenses and debt repayments
Atlas defaulted on loans in 2015 and its owner, M M Ramachandran, was sentenced to a three-year jail term
Riyadh started issuing domestic conventional bonds in 2015
The privately owned investment company has over $5bn of assets under management
Two winners will be selected and invited to demonstrate their solutions at the Global FinTech Hackcelerator in Singapore
The bank is carrying out a system enhancement during the end of the month