car insurance-home-insurance-rain

How to claim insurance due to rain damage: Understanding ‘force majeure’ clause

In light of weather-related damage caused to property and vehicles, it is important to understand the tools available to claim insurance

ADIB BANK

ADIB denies it’s in talks to buy $1.1bn stake in Indonesian bank

ADIB has denied that it’s in talks to buy a minority stake in Indonesia’s top Islamic lender

UAE's FTA introduces Taxpayer Charter, lists rights, obligations image FTA

UAE’s FTA introduces Taxpayer Charter, lists rights, obligations

The introduction of the Taxpayer Charter is part of the FTA’s broader efforts to enhance taxpayer awareness about the UAE tax system

Siobhan Bryon of Finastra on the rise of digital and personalised services in the regional banking sector Image Supplied

Digital, personalised services are impacting regional banking

AI can support more seamless experiences with BaaS and embedded finance, such as faster and more accurate credit decisions and fraud detection

World leaders need to avoid protectionism, said International Monetary Fund chief Kristalina Georgieva Image courtesy IMF

IMF chief urges global policymakers to avoid protectionism

Addressing the Atlantic Council, Georgieva highlighted the pandemic’s lingering effects, including a staggering $3.3tn in global output losses since 2020, with vulnerable nations disproportionately impacted

Bitcoin drops 7.9% to $61,842

Bitcoin drops 7.9% to $61,842

The world’s biggest and best-known cryptocurrency is down 16.2 per cent from the year’s high of $73,794 on March 14

ADX, DFM log direct deals worth Dhs1.6bn during Ramadan

ADX, DFM log direct deals worth Dhs1.6bn during Ramadan

In ADX, five large direct deals were executed on 243.4 million shares, amounting to Dhs683.3m

Emirates Development Bank milestones in numbers GettyImages-124638324

In numbers: Emirates Development Bank’s role in boosting UAE’s economy

The development bank has set an ambitious target of providing Dhs30bn in financing support to 13,500 companies by 2026

FAB issues $800m sukuk, marks first for the year globally

FAB exploring purchase of Turkey’s Yapi Kredi Bank: Reports

FAB has held early exploratory talks with owners of several Turkish banks

Gold

Gold shatters record highs, heads for third straight weekly gain

US gold futures settled 1.6 per cent higher to $2,345.4

UAE

UAE jumps 10 places in global FDI confidence index

Developed markets dominate the top 25, but emerging markets like the UAE and Saudi Arabia witness significant rises

EGYPT

UAE deal bolsters Egypt’s foreign reserves in March

Egypt received the initial $5bn payment from the UAE in its $24bn deal at Ras El Hekma peninsula west of Alexandria

SCA declares Eid Al Fitr holidays for UAE financial markets Image WAM

Eid Al Fitr 2024: SCA announces holiday dates for UAE financial markets

The Eid Al Fitr holiday will start on Monday, April 8, 2024 (Ramadan 29, 1445 AH)

Saudi Arabia: Image: Getty Images - ipo

Riyad Bank considering IPO of investment banking unit

Gulf markets have been riding an IPO boom over the last two years on high oil prices and foreign institutional investor interest

Gold bars

Gold continues record rally after US Fed comments

Bullion has hit record highs in each session for over a week over data from the US economy

Tax strategies to help expand your business globally GettyImages-918061226

Plan to take your UAE-based business global? These tax strategies will help

When it comes to expanding globally from a UAE base, the complexity of tax regulations across different jurisdictions can pose significant hurdles

UAE free zone corporate tax - OECD

UAE announces new Corporate Tax registration deadlines: What businesses need to know

Failure to comply with the tax deadlines could result in hefty fines

Tadawul marks 400th listing across all securities

Saudi’s Tadawul marks 400th listing across all securities

The Saudi Exchange played a pivotal role in facilitating more than SAR11.9bn ($3.2bn) raised through IPOs on the Main Market in 2023

Gold

Gold regains its allure with record high prices on safe-haven demand

Gold logged its best month since July 2020, at a 9 per cent increase, and a second straight quarterly rise

Oman

Oman launches $5.2bn ‘future fund’ to drive economic development

By focusing on critical areas, the ‘Future Fund Oman’ aims to revitalise the country’s economic pillars and propel sustainable growth

Modern Mills Company starts trading on tadawul after successful IPO GettyImages-1057624978-e1636003123118

Modern Mills Company debuts on Tadawul; IPO generated $40bn in orders

The IPO involved the offering of 24,549,600 shares, constituting 30 per cent of the company’s issued share capital

Dubai ALEC IPO on the cards

Dubai considers IPO for ALEC amidst property boom: Reports

Investment Corporation of Dubai is said to consider listing ALEC

Brent oil price forecast Bloomberg GettyImages-1384536093

Oil market sees frenzy of hedge fund buying as traders turn bullish: Opinion

In a sign of how bullish investors were becoming most buying came from the creation of new long positions

Mubadala invests in Avanse

Mubadala invests in India’s Avanse Financial Services

Avanse, India’s second-largest NBFC in the education finance sector, provides hyper-personalised education financing solutions to students

Saudi fund for development invests in hydropower projects in Pakistan Image SFD

Saudi Fund for Development invests in clean energy projects in Pakistan

The agreements mark a pivotal stride in advancing clean energy projects within Pakistan, aiming to address challenges associated with conventional energy sources and their financial burdens

Here’s what Dubai’s new 20% tax regime for foreign banks means

Here’s what Dubai’s new 20% tax regime for foreign banks means

The new tax regime clarifies that the headline 9 per cent corporate tax will be creditable against the emirate-level tax on foreign banks

Scam alert on mobile phone screen

Scam alert: Beware of phishing emails that impersonate CBUAE

A fresh round of scam messages were sent to residents in the UAE, impersonating the Central Bank of the UAE

Kim Medina of Knightsbridge Group on the importance of creating wills and trusts

Creating wills, trusts in the UAE: What you should know

In the absence of a well-structured will or trust, beneficiaries in the UAE could encounter several challenges

Financing nature-based solutions in the MENA Region

Financing nature-based solutions in the MENA Region

Public-private partnerships exemplify such collaboration, with government support bolstering confidence among private investors and financial entities to co-invest in NbS projects

TURKEY

Turkey’s central bank stuns with interest rate at 50%

The bank has now raised its key one-week repo rate by 4,150 basis points from 8.5 per cent since last June