Thursday 30 March 2017

Tax reforms in focus at Deloitte conference

Deloitte recently organised its 10th annual Middle East Tax Conference in Dubait to update practitioners and clients on global and regional tax updates and tools.   The 2017 edition, held on March 22 and 23, aimed to help attendees in regaining a sense of control and keeping


BCFC shareholders to get 50pc cash payout

Bahrain Commercial Facilities Company (BCFC) general assembly has approved a cash dividend of 50 per cent or 50 fils per share, said a report in the Gulf Daily News (GDN), our sister publication. To read further, please visit


Qatari fund to sell 40pc stake in Santander Brasil

Qatar Investment Authority (QIA), the country's sovereign wealth fund has announced plans to sell its 40 per cent stake in Santander Brasil, the Brazilian unit of top Spanish bank Santander. The sold shares by the Qatari fund are worth as much as $900 million, thanks to a more than


Accenture upgrades technology platform at NCB

Accenture, the global professional services company, has successfully completed the core system replacement of the retail banking operations at Saudi Arabia's National Commercial Bank (NCB). The highly complex project, which took approximately two years to complete, was part


What are the key points of planned VAT in UAE?

The UAE Ministry of Finance (MoF) hosted a value added tax (VAT) briefing session for advisors recently. The session aimed to send a clear message to the market, which is that VAT is coming and businesses must begin to prepare immediately, said a newsletter from EY, a global leader in assurance


Amazon reaches deal to buy

Amazon, a global e-commerce leader, today announced that it has reached an agreement to acquire, an e-commerce leader in the Middle East. Joining the Amazon family will enable to continue growing while working with Amazon to bring even more products and offering


Qatar to pump $6.2bn into UK infrastructure projects

Qatar is set to invest £5 billion ($6.24 billion) in Britain over the next three to five years, thus underscoring the country’s commitment to the UK despite economic uncertainties relating to Brexit, according to a report. The key sectors of infrastructure, real estat


DIB launches Panin Dubai Syariah Bank in Indonesia

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has celebrated the launch of Panin Dubai Syariah Bank in Indonesia. Following regulatory approvals in 2015, Dubai Islamic Bank acquired almost 40 per cent in PT Bank Panin Syariah Tbk, which has been rebranded to Pani


Aramco welcomes Royal Order slashing tax

Saudi Aramco today welcomed the introduction of the new tax regime for all hydrocarbon producers operating in the kingdom as another positive step in the diversification of the kingdom’s economy.   Amin H Nasser, president and CEO, Saudi Aramco, said the c


Arqaam Capital launches global macro hedge fund

Arqaam Capital, a specialist emerging markets investment bank, has launched a global macro multi-asset fund as part of its growth-led strategy and diversification into the alternatives space. The Arqaam Global Macro Fund (AGMF) is a global macro systematic fund invested in liquid

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