Obtaining some funds in yuan could give Riyadh more financial flexibility
Rashed Sharif was previously CEO of Riyad Bank’s investment banking arm
The mobile banking app aims to provide financial inclusion to low-income migrant workers
The group will engage in a 12-week programme before pitching to investors
The excise tax will be imposed on tobacco products, energy drinks and certain soft drinks
PayTabs said it would use the funds to expand into more than 20 new markets
Goldman Sachs has been operating in the kingdom since 2009 as an agent and underwriter
Sources said the final figure for the planned redundancies could be more than 200
The UAE and Saudi Arabia will be implementing VAT starting 2018 January
The UAE plans to introduce VAT at a 5 per cent rate in January 2018
The developer recorded a 22 per cent rise in property sales in Dubai during H1
Proceeds raised during the quarter decreased by more than a third
The UAE recently issued a federal law for Tax Procedures
A final decision will be taken by Crown Prince Mohammad bin Salman
As the GCC begins implementing an excise tax on tobacco, industry insiders urge for measures to ensure illicit trade doesn’t flourish
India introduced the Goods and Services Tax (GST) on July 1
Profitability will mainly be affected in 2018 due to lower government spending
The company reported a 116 per cent rise in its second-half net profit
The programme has created “fantastic” opportunities for its Saudi operations, says regional HSBC chief
The outlook change was attributed to weakening operating conditions and continued funding pressures
The issue, led by First Abu Dhabi Bank, has a two-year maturity
Alwaleed’s investment will include establishing two new hotels
It will be the first listing since the regional crisis erupted in June
The polyester producer is 60 per cent owned by RAKIA
The programme sees fintech firms asked to address challenges in six areas of the financial services industry
In March, Mubadala sold 45 million shares in AMD for around $613m
Oman has borrowed over $10bn this year to replenish coffers hit hard by lower oil prices
The loan, with a three-year maturity, will be provided by a group of seven banks
The sultanate has already raised $7bn from international bonds this year
The regulations establish a framework for loan and investment crowdfunding