The UAE plans to introduce VAT at a 5 per cent rate in January 2018
The developer recorded a 22 per cent rise in property sales in Dubai during H1
Proceeds raised during the quarter decreased by more than a third
The UAE recently issued a federal law for Tax Procedures
A final decision will be taken by Crown Prince Mohammad bin Salman
As the GCC begins implementing an excise tax on tobacco, industry insiders urge for measures to ensure illicit trade doesn’t flourish
India introduced the Goods and Services Tax (GST) on July 1
Profitability will mainly be affected in 2018 due to lower government spending
The company reported a 116 per cent rise in its second-half net profit
The programme has created “fantastic” opportunities for its Saudi operations, says regional HSBC chief
The outlook change was attributed to weakening operating conditions and continued funding pressures
The issue, led by First Abu Dhabi Bank, has a two-year maturity
Alwaleed’s investment will include establishing two new hotels
It will be the first listing since the regional crisis erupted in June
The polyester producer is 60 per cent owned by RAKIA
The programme sees fintech firms asked to address challenges in six areas of the financial services industry
In March, Mubadala sold 45 million shares in AMD for around $613m
Oman has borrowed over $10bn this year to replenish coffers hit hard by lower oil prices
The loan, with a three-year maturity, will be provided by a group of seven banks
The sultanate has already raised $7bn from international bonds this year
The regulations establish a framework for loan and investment crowdfunding
The law lays out common procedures and rules to be applied to all taxes in the UAE
El Erian is also chief economic advisor to Allianz
Banks are said to be serving Qatari clients from other locations due to regional sensitivities
The IPO is expected to be the world’s biggest and is targeted to raise $100bn
The central bank’s net foreign assets climbed to $493.3bn last month
Mashreq was the first UAE lender to open an office in Qatar
The move makes it the first financial watchdog in the Gulf to act on the new blacklist
The deposits fell after Saudi, UAE, Egypt and Bahrain cut diplomatic and transport ties with Doha
Of the five major banks to publish earnings this quarter, four have reported improved profits