Friday 19 December 2014

Qatar’s economy to remain resilient to lower oil prices

Qatar’s economy is expected to remain resilient to lower oil prices as it has ample resources to continue implementing its infrastructure investment programme, said a report. The international oil market has experienced significant adjustment in recent weeks, with the brent


UAE, Hong Kong in deal to avoid double taxation on income

The UAE signed a deal for the avoidance of double taxation on income with Hong Kong, during a meeting between businessmen and commercial banks from both parties in Dubai, UAE. The agreement was signed by Obaid Humaid Al Tayer, Minister of State for Financial Affairs on behalf of

More… expands footprint in Kuwait, a leading finance comparison site in the UAE, Qatar and Bahrain, continues its GCC-wide expansion with the recent launch of its dedicated Kuwait website, the first platform of its kind in the country. The site has carved a niche for itself in the regional bankin


Key challenges faced by audit committees in focus

Financial reporting, oversight, risk and effectiveness are key areas that pose challenges for audit committees in Bahrain and across the GCC, a KPMG survey has found. To help identify the pressing challenges facing audit committees, KPMG Gulf Co-operation Council conducted a surv


Financial planning 'key to avoiding turmoil'

Turbulence in financial markets has always existed and those who succeed have planned well in advance to tackle the tough times, an expert has said. Indian software giant Infosys former chief financial officer and board member Venkatraman Balakrishnan said this in an address to B


First Gulf Bank eyes Asia for expansion

First Gulf Bank (FGB) is looking at options to expand in Asia, a senior executive said on Thursday, as it seeks to diversify away from the congested market in the UAE. Banks from the Gulf state - and the region in general - have been looking to expand into new geographical and pr


Dubai sinks, panic selling spreads across GCC markets

Dubai's stock index tumbled on Thursday, heading for its biggest daily drop in five years, after Brent crude oil dropped to a fresh five-year low. The emirate's main index sank 7.2 per cent to 3,604 points, falling below major technical support at 3,731 points, its July t


Board composition ‘vital for businesses’

Board composition and selection rank high as key priorities in the corporate governance choices faced by businesses. This was highlighted during the GCC Board Directors Institute (BDI) workshop held in Bahrain in partnership with Investcorp, said a report in the Gulf Daily Ne


Key GCC-Russia forum to focus on trade ties

A key high-powered forum on economic co-operation between Russia and the GCC will be held in Bahrain next week. ‘Trade and Industrial Dialogue: Russia-Gulf Co-operation Council,' will be held at the Ritz-Carlton Bahrain, Hotel and Spa on December 14 and 15, said a repor


National Investor-led group buys into NCC

The National Investor (TNI), a regional investment banking group, led a consortium of Abu Dhabi-based investors in the acquisition of a 50 per cent equity stake in National Catering Company (NCC), a top industrial catering and facility management business in the UAE. NCC, which w

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