Oman expected to add $779m in revenue from VAT this year

The country last year announced it would impose a 5 per cent VAT in an effort to bolster the economy

Stocks set to end 2020 at record high

Investors have pushed risk assets including stocks to sky-high valuations on expectations that widespread vaccine distribution in 2021 will reignite economic growth

How fintech innovations are helping the unbanked across the GCC

As societies adopt more digital payment tools, it is important to bring along the 25 million locally who are still living in cash mode

Bahrain-Manama

Bahrain central bank extends loan repayment deferrals on Covid crisis

The option to postpone installments is to be offered to all customers residing in the kingdom, whether individuals or companies

Oman banks get more flexibility in financing stock investments

Oman’s central bank also said banking sector in the sultanate was “comfortably placed”

Bahrain’s Investcorp buys stake in private equity firm Centre Lane

Centre Lane plans to use the capital to expand its private-credit and special-opportunities platforms and to increase capital commitment

Saudi’s $360bn sovereign wealth fund PIF rejigs top leadership

The reshuffle comes as the PIF and its subsidiaries prepare to significantly increase domestic spending

UAE’s Palms Sports lists shares on Abu Dhabi bourse

Trading on the shares begins on December 21

UAE SMEs receive Dhs420m trade credit support during Jan-Nov 2020

Etihad Credit Insurance insured the exports of the SMEs as well as their operations in the domestic market allowing them to stay competitive

Investment lessons: Now is the time to focus on ETF assets in the MENA region

Locally-listed ETFs are a simple, cost-effective and efficient investment tool and will increasingly be used as such in the coming months and years

Finablr sold for $1 to Israeli-UAE consortium

The deal is also among the first significant commercial transactions between UAE and Israeli companies

Why Middle East investors should consider Northern Ireland’s fintech sector

The fintech sector is booming – supported in part by the Covid-19 pandemic – and Northern Ireland offers regional businesses a great platform for growth

UAE lender FAB opens Jakarta office to facilitate regional trade

FAB Indonesia will serve as a bridge to facilitate trade and investment flows between the UAE, the wider GCC region, Egypt and Asia

How Middle Eastern families can carve out sustainable legacies

Sustainable investing acts as a conversation enabler between generations

Bahrain-Manama

Bahrain, UAE and Saudi ranked among world’s top five Islamic finance economies

Islamic Development Bank report places Bahrain in third place globally

Abu Dhabi’s Mubadala to invest in Asper’s Dhs2.1bn investment vehicle

Dorothea aims to develop a pipeline of large-scale sustainable heating networks in the Netherlands

UAE’s non-oil GDP to grow 3.6% by end 2021

The UAE has rolled out economic support packages worth more than Dh388bn to mitigate the impact of the pandemic

Investment lessons: Outbound Middle East capital seeks emerging asset classes

The considerable levels of dry powder available across the Middle East is expected to target diversification opportunities and long-term higher returns

Bahrain puts economic recovery ahead of boosting budget revenue

Bahrain’s public finances have been under strain from the twin shock of the pandemic and lower oil prices

Tawuniya selects SAS analytics platform to combat fraud

SAS Insurance Fraud Management to improve speed of claims settlement and fraud identification

Citigroup names Antonios as first female head of MENA business

She will continue as country officer for the UAE, a role she assumed in 2016

Abu Dhabi wealth fund targets Africa, renewables to lift returns

ADIA started a climate-change equity portfolio this year, aimed at boosting its green-economy exposure

Abu Dhabi lenders invest Dhs19bn in debt securities for Jan-Sep 2020

The balance of the investments in debt securities by Abu Dhabi lenders totalled Dhs182.5bn at the end of 2019

Global bank job cuts reach five-year high

The total number of positions that have been eliminated has reached 85,540 globally

Natixis replaces Saudi Arabian CEO after six months in the role

International banks have been expanding in Saudi as the country embarks on a plan to diversify its economy beyond oil

Banks erase debt worth Dhs869.85m of 1,607 Emiratis

The move was implemented as per the directives of the UAE President Sheikh Khalifa bin Zayed Al Nahyan

Axa sells Gulf operations to Kuwaiti group in $269m deal

The insurer sold its stakes in Axa Gulf, Axa Cooperative Insurance Company and Axa Green Crescent Insurance Company to Gulf Insurance Group

Saudi Central Bank extends pandemic loan support into next year

The programme has helped banks avoid having to recognise credit as non-performing

Outlook 2021: Challenging outlook offers varied picture for GCC banks

The GCC governments’ measures to help corporates and individuals navigate the challenging environment have taken various forms

Saudi Arabia broadens Central Bank’s mandate to promote growth

The new charter also formally changed the name of the central bank, from Saudi Arabian Monetary Authority to Saudi Central Bank