Citigroup plans to return to the country after a roughly 13-year absence
The company’s tax rate has been cut from 85 per cent to 50 per cent
The GCC states are planning to introduce a 5 per cent value added tax from 2018
The tax rate for investments exceeding $100bn will be 50 per cent
The agreement is hoped to boost bilateral trade and include training for Iranian central bankers
GCC expats are far behind their counterparts in North America, Europe and Asia when it comes to retirement planning, finds survey
The company secured a $500m credit facility in August and has around $163.4m in cash to invest
The sale comes ahead of the firm’s planned 2018 IPO
The region’s wealthy forecast flat or declining economic performance this year
The company has targeted numerous mergers and acquisitions, including Dubai’s Shuaa Capital
Measures of stress in the Saudi financial system have fallen sharply
The banking group is seeking a return to the kingdom to capitalise on financial reforms, according to reports
A merger of the two firms would form a group with a market capitalisation of about $2.5bn
Shares in both companies have surged since Sunday
New York, London, Hong Kong, Singapore and Toronto, besides Tokyo, are vying for what could be the world’s largest IPO
The deal is expected to close in the coming weeks
National Bank of Abu Dhabi and Emirates NBD have also set up representative offices in China
Mubadala has reportedly requested an Arm stake forms part of SoftBank’s Vision Fund
Gulf countries are expected to confirm domestic legislation shortly after the framework is released, according to reports
The lender could potentially issue in May this year
The platform launched with one ETF from Afkar Capital
Mubadala sold 45 million shares in AMD for around $613m
The firm will use its proceeds to fund acquisitions of real estate assets
The central bank plans to introduce a ceiling on total foreign currency positions
Authorities estimate that about 2.5 million Saudi citizens are working in the private sector without medical cover
Any stakes would be no greater than 10 per cent
On their first day of trade, all seven Parallel Market stocks soared 20 per cent
Ayman Alsayari was deputy governor for investment at Saudi Arabia Monetary Authority
The bank has struggled with a rise in bad loans
Up to 5 per cent of the world’s largest oil producer is likely to be listed