The shift in consumer behaviour is requiring merchants to adapt to changes that could affect their bottom line
Banks in the country plan to use QR codes to improve cheque security
At least seven employees, including four managing directors, have left Gulf Capital in the past year and a half, said sources
Kingdom Holding holds a stake in Dubai-based car hailing app Careem
The bank, which is in merger talks with Riyad Bank, made a net profit of SAR2.65bn in Q4
The kingdom’s finance ministry issued SAR5.37bn ($1.43bn) in domestic sukuk
Survey finds 59 per cent are either fully or partly relying on their gratuity for retirement
Arabian Centres Company has applied for an IPO with the Capital Market Authority
From January 1, 2019 those with revenues of between SAR375,000 and SAR1m will also be subject to the tax
The GCC state will give $50m to the fund to allow investment in the fields of technology and digital economy
The minimum claim amount of each VAT refund application submitted by business visitors is Dhs2,000
Saudi’s biggest lender is holding merger talks with smaller rival Riyad Bank
The airline disclosed last year that it had an overall exposure of $336m to Dubai-based Abraaj
The bank attributed its increase in profit to a rise in net special commission income
The lender reported a 10 per cent rise in fourth-quarter net profit
FAB is the first issuer in the Gulf to tap the international sukuk market this year
Abu Dhabi National Hotels announced in November that it would acquire five hotels from Emaar
The deal also includes fresh capital for any follow-on investments and future investments
A merger between the banks would create a combined bank holding $183bn in assets
The Saudi Arabian General Investment Authority also reported a 100 per cent increase in the number of investment expansion requests
Analysts expect more mergers given a slowing economy, slide in house prices, robust accounting standards and tougher competition
The order book for the $7.5bn sale of longer-term debt sale peaked at $27.5bn
The kingdom has sold $52bn in international bonds since its debut in 2016
The loan will fund the $4.3bn Noor Energy 1 project, expected to become the world’s largest single-site concentrated solar power plant
Dubai-based Abraaj, worth $13.6bn, collapsed last year following turmoil triggered by a row with investors
Jim Yong Kim’s resignation takes effect from February 1
The new expansion will add a total of 13 million square feet of space to the DIFC
Customers of First Abu Dhabi Bank were charged a Dhs175 fee in error
The new funds will be used to grow the workforce by up to 50 per cent as the company expands to other regional markets
Figures from the UAE’s Central Bank covered the first 11 months of 2018