Saturday 19 January 2019

Experts to discuss RegTech innovation at Bahrain event

Bahrain FinTech Bay is set to organise its second biggest conference RegFact, an event dedicated exclusively to the regulation and compliance ecosystem targeted at regulators, senior executives responsible for risk, compliance, financial institutions, technology vendors, and industry thought


UAE issues VAT refund guide for foreign businesses

The UAE Federal Tax Authority (FTA) has outlined four conditions that would allow foreign businesses to recover value added tax (VAT) incurred in the country in a new guide on “VAT Refunds for Business Visitors”, published on its official website.  


Nasdaq launches futures trading on MSCI’s UAE index

Nasdaq Dubai has launched futures trading on the MSCI United Arab Emirates (UAE) equity index, in the latest expansion of the exchange’s futures market. The contracts are designed to appeal to international and regional investors seeking exposure to leading UAE companies, said a


Emirates NBD 2018 profit surges 20pc to record $2.72bn

Dubai-based Emirates NBD, a leading bank in the region, has posted a record net profit of Dh10 billion ($2.72 billion) for 2018, marking a 20 per cent year-on-year growth. The bank achieved another milestone as total assets surpassed Dh500 billion for the first time. Net interest


UAE consumer confidence bounces back in Q4

Consumer confidence in the UAE rebounded in the fourth quarter of 2018, as residents absorbed the impact of VAT and high expenses incurred over the summer, said a report from yallacompare, a leading comparison site for financial products. During the fourth quarter (Q4) of 2018, y


UAE five-year growth to average 3.8pc: study

The UAE is forecast to achieve an average real GDP growth rate of 3.8 per cent between 2019 and 2023, supported by a rise in investment flows and private consumption, according to new analysis from Dubai Chamber of Commerce and Industry. The findings of the analysis, based on the


Citi UAE opens Citigold lounge in Abu Dhabi

Citi UAE has announced the opening of its Citigold Lounge in Abu Dhabi designed to provide enhanced professional wealth management services across the UAE.   The centre was inaugurated at a ribbon-cutting ceremony attended by Gonzalo Luchetti, Citi EMEA and Asia


Top EU asset manager Azimut buys Rasmala's Egyptian unit

Azimut Group, one of Europe’s leading independent asset manager, has signed an agreement with independent alternative asset management group Rasmala to acquire 100 per cent of its Egyptian subsidiary. Rasmala Egypt, founded in 1997, specialises in conventional and shariah c


Mashreq enables Samsung Pay via banking app

Mashreq Bank, a leading financial institution in the UAE, has rolled out a service that allows customers to instantly add their credit cards to Samsung Pay via Snapp, enabling them to make easy, fast and secure payments. Aref Al Ramli, head of Digital Banking and Innovation, Mash


Kingdom Holding's key board member steps down

Saudi Arabia's Kingdom Holding Company, the investment firm owned by billionaire Prince Alwaleed bin Talal, said one of its board members, Mohammad Mahmood Fahmy has resigned from his post citing personal reasons. Kingdom Holding Company is a diversified investment company ba

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