March 10, 2017

Who should worry most about VAT in the UAE?

By January 1, 2018, it is expected that value added tax (VAT) will be applied at a rate of 5 per cent on most goods and […]
March 3, 2017

Union National Bank’s fourth-quarter profit rises 29%, missing forecasts

Union National Bank said its fourth-quarter profit increased by 29 per cent as money set aside to cover bad debt dropped and operating income rose. Profit […]
February 24, 2017

Profit increases over 2016 for EIB

Emirates Investment Bank, the Dubai-based private lender, yesterday said that its net profit for 2016 rose 20.5 per cent amid gains in assets under management and […]
February 17, 2017

VAT presents UAE with a chance to innovate

Dubai has hosted two important conferences this week: the World Government Summit and the Second Arab Fiscal Forum. The summit has a broad agenda, shaping the […]
February 10, 2017

Strongest showing in two years for Dubai’s non-oil private sector

Non-oil private sector business activity in Dubai was subject to the strongest improvement in nearly two years in January, according to a key monthly survey. The […]
February 3, 2017

Economic growth for UAE slow at 2.3%

The UAE’s economy will grow at 2.3 per cent this year, slower than the 2.6 per cent rate projected for 2016, according to the latest data […]
January 27, 2017

Fuel price rise set to drive up UAE inflation

Rising utility and energy costs in the UAE are likely to outweigh a drop in rents and a strong US dollar in 2017 and push consumer […]
January 20, 2017

UAE joins World Economic Forum to unveil ‘future’ report

DAVOS // The UAE and WEF unveiled a groundbreaking report titled “Global State of the Future” here on Wednesday. Mohammed Al Gergawi, the Minister for Cabinet […]
January 16, 2017

World Economic Forum says 2017 will be year of upheavals

The world faces growing risks from income inequity, societal polarisation and intensifying environmental dangers in 2017, according to the World Economic Forum’s annual Global Risks Report. […]
December 19, 2016

UAE Central Bank raises interest rates following US Fed hike

Arabian Gulf central banks are following the Federal Reserve’s interest-rate increase, maintaining their commitment to the US dollar peg even as lower oil prices hit economic […]
December 9, 2016

UAE regulator clamps down on savings, investment and insurance policy sales practices

The UAE Insurance Authority (IA) plans to introduce tough regulations to fundamentally change the way savings, investment and life insurance policies are sold, in response to […]
December 2, 2016

GCC debt deluge: big-ticket issues, even by international standards

The GCC is raining debt issuances. From almost nothing a few years ago, all we hear and read these days is the jumbo-sized bond issuances from […]
November 25, 2016

UAE ‘focused on tourism to boost post-oil economy’

ABU DHABI // The UAE is focused on tourism as one of the main pillars of the post-oil economy, Sultan Al Mansouri, Minister of Economy, has […]
November 18, 2016

Central Bank governor expects UAE economy to expand in 2017

The UAE Central Bank governor Mubarak Al Mansouri said that he expects the country’s economy to expand next year at a faster pace, giving a boost […]
November 11, 2016

Basking in the glow of Egypt’s devaluation

Normally I don’t like to predict, but this time I’m going to go out on a limb. After the government’s courageous reforms last week, Egypt’s economy […]
November 4, 2016

UAE sets growth target of 4 per cent for 2017

The UAE is targeting an economic growth rate of about 4 per cent next year as it looks to the non-oil economy for expansion, the undersecretary […]
November 4, 2016

Market analysis: UAE bank equities a sound investment

Mena equity investors have had a stormy year so far. We have seen decent swings in both directions, but despite the volatility, Mena equities are now […]
October 21, 2016

UAE Central Bank says lending to SMES has tightened

UAE banks have become less willing to lend to businesses and individuals, according to the latest quarterly credit sentiment report issued by the ­Central Bank. At […]
October 14, 2016

UAE to set up the world’s first Sharia-compliant trade bank

The UAE is to establish the world’s first Sharia-compliant trade bank to bolster its ambition to be the centre of the Islamic economic world. The Dubai […]
October 6, 2016

UAE shares dwindle despite oil price gains

Shares in Dubai fell to a three-month low on Wednesday, despite a rise in oil prices and a continued recovery by Saudi stocks. The Dubai Financial […]
October 6, 2016

UAE non-oil business growth falls slightly in September

Economic sentiment in the UAE dipped in September as a slowdown in global growth put pressure on domestic businesses. The UAE purchasing managers’ index (PMI), a […]
September 23, 2016

Why UAE interest rates are more negative than they appear

Banks in the UAE pay 1.25 per cent on time deposits with a maturity of one year. While this may look measly, two things matter for […]
September 16, 2016

A long-term plan for a stronger UAE economy

It has been difficult this year to find topics on the economy or business to be positive about. For Eid Al Adha I feel that a […]
September 2, 2016

UAE and Saudi Arabian millennials to drive e-commerce growth in region

Affluent millennials are key to e-commerce growth in the UAE and Saudi Arabia in a region where cash is still king. E-commerce generated US$2.5 billion in […]
August 15, 2016

Dubai Financial Market closes at highest since April

A slew of negative earnings did not prevent Dubai shares from advancing to their highest this year. The Dubai Financial Market General Index was largely unchanged […]
August 15, 2016

Arabian Gulf markets break from the oil-price trend

In a marked departure from the trend at the start of the year when movement in oil prices was synonymous with how regional markets behaved, in […]
August 10, 2016

Saudi Arabia contract awards down 75 per cent on a year ago

Contract awards in Saudi Arabia dropped by a further 27 per cent quarter-on-quarter to just 20.3 billion Saudi riyals (Dh19.88bn), and are 75 per cent lower […]
August 10, 2016

Kuwait last GCC country to hike petrol prices to curb government costs

Kuwait became the last GCC country to hike subsidised petrol prices as part of a broader effort to control government costs and cope with lower oil […]
August 10, 2016

Market analysis: Oil oversupply fears are back to weigh on crude prices

Monthly Oman crude oil trading on the Dubai Mercantile Exchange (DME) fell for the first time in six months as weaker sentiment returned on renewed oversupply […]
August 10, 2016

Opec president reassures oil market with optimism on second-half price recovery

Opec’s president said that he expects oil prices to improve as demand picks up in the second half of this year. In a rare move aimed […]
August 10, 2016

Cairo set to gain from Red Sea’s tourism loss

Cairo is expected to lift the Egyptian hotel market this year as international tourists stay away from leisure spots along the Red Sea. Egypt’s capital city […]
August 10, 2016

Brent oil gains while profit-taking hits UAE bourses

Profit-taking affected UAE bourses amid quarterly earnings with oil markets inching back up from lows a week ago. The price of Brent crude, the international benchmark, […]
July 25, 2016

Exential investors tell of how losses have affected their life plans

DUBAI // Many investors feared it was too good to be true but were happy to spin the wheel of fortune on foreign exchange currency schemes […]
July 25, 2016

Financial regulators shut down currency scheme in Dubai

DUBAI // Financial regulators have shut down a foreign exchange trading scheme in Dubai that promised investors they could more than double their money. Exential Group […]
July 14, 2016

Opec sees rising oil demand in 2017 as Saudi Arabia pumps near-record output

Opec forecast higher demand for its crude next year as the global surplus fades, while Saudi Arabia pumped near-record levels amid peak summer consumption. The 14 […]
July 14, 2016

UAE shares keep rising after rally for crude

UAE shares rose with others across the Arabian Gulf, off the back of firm global equities and a surge in oil prices. Shares in Dubai extended […]
July 8, 2016

Brexit woes drag Britain’s pound to new 31-year low

Britain’s pound slumped to a new 31-year low on Wednesday, dipping below $1.28 at one point in Asian trading, as investors shunned the currency in the […]
July 8, 2016

Analysis: Abu Dhabi mergers have similar causes but different purposes

In response to two recent Abu Dhabi mergers – National Bank of Abu Dhabi with FGB (a combined market value of US$30 billion) and the International […]
July 8, 2016

London address still desirable for Gulf investors despite Brexit

LONDON // Markets hate uncertainty. But for the brave, uncertain markets are a golden opportunity. Two weeks after the UK’s historic vote to cut ties with […]
July 8, 2016

Abu Dhabi Global Market in deal with Paris Europlace

Abu Dhabi Global Market (ADGM) and Paris Europlace, the organisation in charge of developing and promoting the French capital as an attractive financial market, have signed […]
June 24, 2016

Brexit latest: oil tumbles as shock from UK result hammers prices

All times UAE 12.45pm European oil and gas producers fall after Brexit vote cuts oil prices by 4 per cent. Oil demand is curbed as the […]
June 24, 2016

Brexit latest: South East Asian markets close down after pound falls

All times UAE 2.35pm Hong Kong stocks tumbled on Friday but the mid-session panic-selling triggered by the Brexit vote also attracted bargain hunting, which in the […]
June 13, 2016

The Debt Panel: UAE expat owing Dh150,000 must reduce money sent home to family

I am have worked for an IT company since 2007 and my current salary is Dh9,000 with company provided accommodation. I have four credit cards with […]
June 13, 2016

UAE credit bureau successful keeping bad debt in check

Mashreq bank’s head of consumer lending said that buffers created by the credit bureau have been successful in keeping bad debt among individuals in check, with […]
June 13, 2016

Strong US dollar hits region’s bourses

Arabian Gulf bourses opened the week lower yesterday, as local investors caught up with the sell-off of global equities on Friday. Lower commodity prices and concerns […]
June 3, 2016

UAE stocks end the week in the red amid Opec meeting

Shares in the UAE ended the week on a downbeat note, even as oil prices held their ground in the run-up to the Opec meeting. Brent […]
June 3, 2016

Employees leaving UAE jobs because of lack of career development

ABU DHABI // Companies are losing loyal, eager workers because employers fail to provide career development, a new survey suggests. Almost all staff join companies with […]
June 3, 2016

Kuwait set to award $1bn infrastructure contract for South Al Mutlaa City project

Kuwait’s ministry of public housing is to award a US$1 billion contract for roads and infrastructure works within its $20bn South Al Mutlaa City project to […]
June 3, 2016

NMC Health to focus on expansion in GCC, Asia-Pacific markets

NMC Health, a UAE health-care company, is exploring acquisition opportunities in the Arabian Gulf and emerging markets in Asia Pacific as it seeks to expand amid consolidation […]
May 18, 2016

SMEs to gain from Dubai’s new angel investors group

Dubai has established an angel investor service that could open up a new funding avenue for struggling small businesses. The Dubai Ventures Network, created by the […]
May 18, 2016

Travel cards: Why they are good for you while travelling abroad

Travel cards are one of the better means to carry foreign exchange when you are going overseas. When the Chinese philosopher Lao Tzu said that, “A […]
May 6, 2016

UAE stock market investors cautious ahead of Fed meet

UAE shares failed to capitalise on a fresh increase in oil prices on Wednesday, as investors trod nervously ahead of the US Federal Reserve meeting. Brent […]
May 6, 2016

UAE bankers take stock of uncertainties

The global economy is facing uncertain times. The economic challenges range from a crash in oil prices albeit a marginal recovery, slowdown of Chinese economy, negative […]
May 6, 2016

GCC residents to now require e-visa for the UAE

Have family coming to visit from Oman this weekend? Well listen up… As of last Friday April 29, expats living in the GCC will need to […]
May 6, 2016

UAE Exchange offers instant India bank transfers

Global remittance provider UAE Exchange has tied up with YES Bank , India’s 4th largest Private Sector Bank, for real time money transfers to any bank […]
May 6, 2016

UAE Exchange wins Dubai Quality Gold Award

UAE Exchange, a leading global remittance, foreign exchange and payment solutions brand, has won the coveted Dubai Quality Gold Award (DQGA). The Dubai Department of Economic […]
May 6, 2016

Quilter Cheviot looks to replicate successful UK strategy in Dubai

While the volatility that plagued equity markets in the first three months of this year has subsided and crude oil prices are showing signs of life […]
May 6, 2016

What the new UAE end of service gratuity regulation will mean for you

The majority of companies in the UAE are aware of their end of service liabilities and have some funding in place to cover it. That’s the […]
May 6, 2016

Emerging markets guru Mark Mobius says oil prices to rebound to $60 by end of year

The emerging markets investment pioneer Mark Mobius expects oil prices to rebound to US$60 per barrel by the end of the year as the supply of […]
March 14, 2016

Negative interest rates make for positive outlook on bullion

Since the Bank of Japan joined the European Central Bank and Sweden in adopting negative interest rates at the end of January, the realisation that the […]
March 14, 2016

Multi-currency prepaid travel card services in India

UAE Exchange, a leading global provider of remittance and foreign exchange services, is planning to launch multi-currency prepaid travel card services in India. Dubai-based UAE Exchange has launched a new […]
March 14, 2016

UK government launches link-up service connecting UAE and British companies

The UK government has launched a campaign to match up UAE companies with their British counterparts. According to the British Embassy in Dubai, about 80,000 British […]
March 14, 2016

Fourth consecutive weekly rise for Dubai, Abu Dhabi stocks

Stocks in Dubai and Abu Dhabi rounded off their fourth consecutive week in the green, even as both bourses went through sell-offs on Thursday. The Dubai […]
March 14, 2016

Dubai shares rise on hope that oil rise will sustain

Shares in Dubai rose to their highest level in more than four months yesterday, on suggestions that oil prices have bottomed out. The International Energy Agency said on […]
March 14, 2016

Half of UAE residents expect living standards to improve in next six months

Half of the UAE’s residents expect their living standards to improve over the next six months despite a slew of negative economic projections. A Bayt and […]
March 14, 2016

Emaar increases retail rent in shopping spaces including The Dubai Mall

One of Dubai’s biggest landlords of shopping space has increased rents for retailers already tackling a slowdown in economic activity in the emirate. Emaar Malls, 84 […]
March 7, 2016

VAT in GCC: Gulf states agree on key issues, says UAE official

Target for introduction is three years; will take 18 to 24 months to implement Gulf states have agreed on key issues for implementing value-added tax in […]