Friday 25 May 2018

New UAE decisions will boost investment: minister

The UAE Cabinet’s recent decisions to allow 100 per cent ownership of companies by global investors and the launching of an integrated system for UAE visas are landmark steps will fast track the country’s efforts towards achieving the objectives of the National Agenda 2021, said U


Finance House GM among top 50 Indian executives

The general manager of Abu Dhabi-headquartered finance company Finance House was listed among the “Top 50 Indian Executives in The Arab World 2018” during Forbes’ sixth annual event. With 50 years of experience in the banking and financial sector in UAE, Abdul H


Deloitte launches new Islamic finance insights series

Deloitte Middle East, a leading professional services firm, has launched new Islamic Finance insights series “Scalable and sustainable source of funding social infrastructure”, offering the latest insights on infrastructure funding. The industry whitepaper published b


Nasdaq Dubai to launch futures on Saudi firms

Nasdaq Dubai, an international stock exchange, is preparing to launch equity futures on leading companies listed in Saudi Arabia, giving investors new hedging tools to take long and short positions on the companies. The Saudi companies on which futures will be offered are some of


Abu Dhabi banks’ net income tops $2bn during Q1

The net income of Abu Dhabi-based commercial and Islamic banks amounted to around Dh7.9 billion ($2.15 billion) during the first quarter (Q1) of the year, up 2.8 per cent over the corresponding period of 2017, a media report said. Meanwhile, the net income of commercial banks ope


Waqfe launches digital banking platform

Waqfe, the Bahrain-based fintech solutions provider, has launched its first digital banking platform. The solution was launched by Kuwait Finance House-Bahrain, and was unveiled in a ceremony on May 13, at the Arcapita Building, Bahrain Bay, said a statement. The l


UAE joins the Inclusive Framework on BEPS

The UAE has joined the Inclusive Framework on the Base Erosion and Profit Shifting (BEPS) program in line with its commitment to the OECD initiative to become the 116th jurisdiction to join this framework. This announcement came as a result of efforts made by the Ministry of Fina


Badir Program startups raise over $2.3m in Q1

The technology startups incubated by Badir Program, an initiative of the King Abdul Aziz City for Science and Technology, have raised around SR8.830 million ($2.347 million) in the first quarter of 2018 through nine funding deals. The total funding has been increased to SR138.291


KPMG in Bahrain launches app for VAT readiness

KPMG in Bahrain has launched a mobile application ‘KPMG VAT Toolkit’ to assist businesses in the Kingdom understand value-added tax (VAT) and evaluate its impact on the way business is conducted and supported. VAT is expected to be introduced in the Kingdom in the sec


RakBank deploys AI chatbot for customer service

RakBank has recently introduced a cognitive chatbot that allows bank employees to interact with an AI-powered IBM platform to help them answer questions, find solutions or quickly route pending requests to human advisors.  Using AI technology will enhance the employee’

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