The government’s also attempting to push through parliament legislation allowing it to tap international bond markets
BCG says earnings could shrink by -2.1% annually between 2019 and 2024
The GCC is catching up with developed markets in terms of financial inclusion
Jenaan to import raw materials from Borouge to manufacture and supply irrigation systems
A Dhs100bn Targeted Economic Support Scheme initiative was launched by the CBUAE in March 2020
The appetite for tech firms has been increasing among Gulf investors as governments in the region step up efforts to steer their economies away from oil
The order was secured by NMC’s biggest creditor, Abu Dhabi Commercial Bank
FlexxPay is currently available in the UAE and Saudi Arabia, and will be launched in Bahrain next month
Money not being spend in the next one to two months can be put to much better use in an interest-accruing account or investments
Family businesses contribute to more than 90% of the economic activity in the country
Banks and financial institutions must opt for online credit process with automated elements – offered by companies such as Comarch – to ensure they meet the current market needs
NMC is undertaking a complete restructuring of its balance sheet following the discovery of significant fraud and debt
The exchange house reportedly has a weak anti-money laundering and combating financing of terrorism compliance framework
Saudi Arabia was hit hard last year as a drop in crude prices decimated government revenue while measures to stop the spread of the coronavirus limited economic activity
Matrix International picked for financial compliance and fraud prevention
The authority has also restricted him from performing any function in connection with the provision of financial services in or from the DIFC
The value of securities traded on the exchange increased 28 per cent to Dhs72.8bn in 2020 from Dhs56.8bn in 2019
To generate liquidity, the government began last year swapping its best assets for cash with the $600bn Future Generations Fund
The positive sentiment in the crypto space relies on increased mainstream adoption, as well as on successful developments of technological infrastructure
Clarence Singam-Zhou will begin his new role from March 1, 2021
The two men, who have not been named, reportedly took advantage of their position in the company and misused public funds
The company will operate international and domestic flights
Employing the services of certified audit firms can help companies in the country meet regulatory requirements and avoid penalties
From creating a diversified portfolio to making well-informed asset choices, it is critical to have the right kind of advice in order to protect your investments
The bank recorded $450m in provisions and interest in suspense toward NMC, Finablr and associated companies last year
SABIC earned net income of SAR40m in 2020, down sharply from SAR5.2bn in 2019
The financial sanctions were imposed on January 24, 2021
The decline was attributed to a substantial increase in impairment provisions and lower operating profit
Those arrested were allegedly involved in a scheme that transferred more than SAR11.5bn outside the country
Saudi Arabia said it would cut spending 7.3 per cent in 2021 to SAR990bn