Thursday 29 September 2022

Dubai Chamber hosts workshop on UAE corporate tax system

Dubai Chamber of Commerce recently hosted a workshop on the UAE Corporate Tax system at its headquarters, which was attended by over 330 participants from the business community, representing various economic sectors. Organised in collaboration with leading law firm Al Tamimi &am


ADQ and ITHCA to set up $161m venture capital fund

ADQ, an Abu Dhabi-based investment and holding firm, and Oman Information, Communication and Technology Group (ITHCA) have signed a deal to set up a AED592 million ($161 million) venture capital fund to invest in Oman.   ADQ and and Om


Arabian Drilling IPO size to be between $641m and $712m

Arabian Drilling Company, a leading oil and gas drilling contractor in Saudi Arabia, has announced the price range for its planned initial public offering (IPO), as well as the commencement of the participating entities' bidding and book-building period.    


Citi unveils Murabaha Trade, Working Capital Financing solution

Citi has announced the launch of its Murabaha Trade and Working Capital Financing solution for corporate clients in Europe, Middle East and Africa (EMEA).   In line with Shari’a principles, this solution provides financing that supports the general day to


Bahrain GDP achieves real growth of 6.95% in Q2

The gross domestic product (GDP) of Bahrain grew by 6.95% in real prices and 22.87% at nominal prices, compared to the second quarter of 2021, according data issued by the Information & eGovernment Authority (iGA).   This economic growth is mainly attributed


NBB backs SMEs with upgraded Tamweel Al Watani scheme

The National Bank of Bahrain (NBB) has launched an updated version of its Tamweel Al Watani lending scheme to enable a larger stake of Small and Medium Enterprise (SME) customers to benefit from the programme.    While providing faster processing times, the


Global tech players and wider Metaverse to assemble in Dubai

Dubai Metaverse Assembly, from September 28 to 29, will host 300 global experts and more than 40 organisations specialised in metaverse and virtual worlds applications.   Organised by Dubai Future Foundation (DFF), under the patronage of Sheikh Hamdan bin Mohamm


UAE firms ‘plan 5pc pay rise’ in 2023 to offset inflation

UAE companies are planning for budgeted annual salary raises for 2023 at 5%, which is higher than the 3-4% observed in recent years. This is in response to two thirds of firms receiving employee requests for higher compensation to offset spiralling inflation.   


Cigrek Capital launches Dubai investment platform

Scottish company Cigrek Capital has launched its fully-regulated, Dubai solution for managers of digital assets strategies seeking distribution to institutional and HNW investors in the Gulf region.   Cigrek expects the first strategies under the new umbrella wi


Healthcare major Burjeel Holdings plans IPO

Burjeel Holdings, one of the largest private healthcare providers in the UAE and Oman, today announced its intention to list 11 per cent of its share capital on the main market of the Abu Dhabi Securities Exchange (ADX).   The company’s planned listing wil

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