#finance
The kingdom has hiked its VAT rate from 5 per cent to 15 per cent starting July 1
Its net loans stood at Dhs247bn and customer deposits at Dhs263bn as of the end of Q1 2020
Last year, Kuwait Finance House offered to buy Ahli United Bank in an all-share deal that was valued at about $8.8bn
The London-listed company, Finablr, had a market value of GBP77m when it was halted from trading in March, down from a peak of GBP1.5bn in December
While there remain pockets of opportunity, investors should ensure they have sufficient liquidity right now, stresses Vijay Valecha, chief investment officer at Century Financial
Waha Capital posted a loss of Dhs616m for 2019
Lenders warned that it’s still too early “to determine the size and extent of the financial impact at this stage”
Meanwhile, the value of total assets of the UAE’s largest bank rose 14 per cent to Dhs835bn
The emirate raised Dhs1bn through a private placement of eight-year Islamic bonds at a rate of 4.71 per cent earlier this month
The new directives will remain effective from April 21 – July 31, 2020
The Public Investment Fund has stepped up deal-making in a bid to become the world’s biggest manager of sovereign capital
The country’s central bank also instructed all banks to consider entry permits issued to expats in the UAE from March 1 – December 31, 2020 to be valid
The emirate’s GDP grew 4.6 per cent, up from around Dhs592.9bn in the first nine months of 2018
Abu Dhabi Islamic Bank is reportedly planning to close local and international branches
The biggest listed companies in Kuwait by market capitalisation
Gulf Business reveals the 50 biggest banks in the GCC as ranked by total assets
Prince Alwaleed Bin Talal Alsaud, founder and chairman of Saudi’s Kingdom Holding Company, topped the list
The country made a formal loan request to the International Monetary Fund during a visit to Cairo by IMF chief Christine Lagarde.