The move could increase trading liquidity in the market
The government is mulling changes to income tax and changes to fees charged for hiring foreign workers
On Wednesday, Utico CEO said that PIF planned to buy a “significant minority stake” in the utility
The new tariff system is anticipated to particularly impact drivers of vehicles worth Dhs50,000 or less
Deposits fell earlier this year as the government placed less money with domestic banks
Public Investment Fund (PIF) has entered into a binding agreement with the private utility provider
The lender’s deputy group CEO is among those leaving, according to sources
Kuwait plans to sell as much as $10bn of US dollar-denominated bonds in international markets
The move is hoped to help ADX boost liquidity and attract more foreign investors
The stake will be used to support the bank’s expansion, said Shuaa
The kingdom is reportedly discussing plans to impose a tax of between 2 to 6 per cent on remittances
A merger of two state-owned firms will create a new bank for OFWs
The country is seeking to clamp down on commission-led products, according to Globaleye
Fees from the Middle East reached $581m during the first nine months of 2016
The new bank would be run in compliance with Islamic banking principles
Careem said the cash would be used to help with its expansion plans
Oman’s central bank says it will not “blindly follow the Federal Reserve’s decision”
The chairman and senior managing partner of one of Switzerland’s largest private banks talks investing in 2016, wealth management trends, Brexit and how technology is changing the industry
The added funding will help finance the kingdom’s entry into new industries
Mashreq CEO Abdulaziz al-Ghurair said the banking sector was open to mergers such as the NBAD and FGB deal
The riyal and most other Gulf Arab currencies are pegged to the U.S. dollar
Al Ramz said it had acquired 25 million Marka shares
The QIA had previously said it intended to invest $35bn in the US between 2016 and 2021
The financing will come from bank loans and from various export credit agencies
Bank of Tokyo-Mitsubishi is the first Japanese bank to establish a presence in the kingdom
The first set of new banknotes and coins were delivered to King Salman yesterday
VAT will be introduced in the region from 2018
CEO Bin Kalban said there are also plans to list 30 per cent of Dubai-based Emirates District Cooling (Emicool)
The combined banks will create the UAE’s largest lender
Saudi Oger has been seeking to shed assets to try to meet its debt