Tuesday 26 September 2017

InfoFort launches VAT compliance solutions for GCC

InfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, has launched VAT Compliance and Automation Solution for the GCC markets. The GCC-wide value-added tax (VAT) implementation that comes into effect in 2018, impacts how


Islamic banking products ‘losing appeal in UAE’

The number of UAE consumers applying for Islamic banking products has declined since last year, according to a new study from yallacompare, a leading comparison site in the Middle East. By analysing statistics from its financial comparison platform, yallacompare can reveal that,


GCC assets under management set to double to $110bn

GCC fund managers expect to more than double their assets under management (AuM) from $45.8 billion in 2016 to $110.9 billion in 2020, according to a new report published by the Dubai International Financial Centre (DIFC). Published in partnership with Thomson Reuters, the &ldquo


Egypt benefits from strong reform momentum: Moody's

Egypt's credit profile (B3 stable) reflects its large and diversified economy and strong reform momentum, set against constraints which include its very weak government finances, Moody's Investors Service said in an annual report today. The report, "Government of Egy


New UAE-Iraq team aims to boost bilateral trade

Senior government officials of the UAE and Iraq have agreed to form a joint working team or technical committee to enhance investment cooperation and to identify related priorities in key sectors of the Iraq as it undergoes reconstruction. Sultan bin Saeed Al Mansoori, UAE Minist


EU signs $240m assistance programme with Jordan

The European Union (EU) has signed the agreement for a second macro-financial assistance (MFA) programme with Jordan, worth EUR200 million ($240 million), a report said. This macro-financial assistance is the second programme Jordan receives following EUR180 million approved in 2


Gulf Capital announces sale of UAE portfolio firm

Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, has announced full exit from its portfolio company, Reach Employment Services, a leading manpower outsourcing company in the UAE, generating a return of over two times its original investment.


Money Trade Coin listed on cryptocurrency exchange

Money Trade Coin, a cryptocurrency, was listed on NovaExchange today and trading was launched immediately, the company said in a statement. The listing event was held at Burj Al Arab, Dubai, UAE, and was attended by Sheikh Saqer Al Nahyan along with a list of 40 VIP guests includ


EDB launches new housing loan scheme for UAE nationals

The Emirates Development Bank (EDB) has launched a new finance scheme under which UAE nationals who have obtained relevant approvals from the country's major housing institutions including Sheikh Zayed Housing Programme, the Abu Dhabi Housing Authority, the Mohammed bin Rashid Housing Found


New Bahrain Islamic banking rules are credit positive: Moody's

The Central Bank of Bahrain's (CBB) new Shari’ah governance regulations applicable to wholesale and retail Islamic banks in Bahrain are credit positive for investors because they will lead to a more consistent and robust system for ensuring Shari’ah compliance for Islamic produc

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