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The bank’s operating income jumped 14 per cent year-on-year to QAR18.5bn compared to the same period a year earlier
The bank aims to boost software development, collaboration and customer engagement using tools such as GitHub Copilot X, ChatGPT and MS 365 Copilot
The notice was issued following approval from the Central Bank of UAE’s board of directors, with the measures coming into effect from July 1
The banks increased their credit balance by Dhs2.1bn or 0.3 per cent in April 2023, up from Dhs735.2bn a month earlier
This partnership gives Astra Tech customers access to microfinance options specifically designed for individuals with low and medium incomes through Botim, supported by National Bonds’ Al Manassah Platform
The central bank said banks’ gross credit increased by 0.1 per cent to Dhs1.89tn in April, driven by a 0.4 per cent growth in domestic credit
The programme is targetted at farmers, local producers, technology providers, equipment suppliers, and those involved in the agriculture support ecosystem
The country’s wealth fund remains one of the biggest investors in Europe, with stakes in companies such as Glencore and automaker Volkswagen
Economic substance refers to the tangible and real economic activity that a company carries out
DIB alt brings together more than 135 digital services via the DIB Mobile App, online banking, WhatsApp and ATMs
The development bank is playing a vital role in supporting the UAE’s industrial strategy by providing financial assistance and driving sustainable growth
The bank will offer competitive financing solutions to support the adoption of advanced technology in the industrial sector
The government said qualifying entities in the country’s economic free zones will be subject to a 0 per cent rate
The deals come as part of the bank’s mandate to approve Dhs30bn in funding support to companies in the UAE within five key focus sectors
The new decisions will help determine taxable income in addition to providing tax relief for intra-group transfer of assets or liabilities between members of the same qualifying group
The central bank’s guidance highlights the risks of dealing with virtual assets and virtual asset service providers and their business models
These developments follow the $32m Series A fundraise and partnership with Visa aimed at strengthening its presence in the Saudi market
This is the sixth tranche under SRC’s upsized SAR20bn sukuk programme
The two countries agreed to strengthen their cooperation and exchange knowledge, experiences and best practices in the field of tax policy
The change in the brand name will not impact the current management structure and reporting lines, day-to-day operations, or the level of support and cross-selling that will continue between the group’s three verticals
The group recorded a 129 per cent year-on-year rise in revenue to EGP4.5bn in Q1 2023
The transaction is expected to close in the first quarter of 2024, subject to regulatory approvals
Buyers will need to evaluate the tax status of the target company or target assets and consider whether any restructuring is required to optimise tax efficiency
According to a survey conducted by UAE Banks Federation, the county ranked second globally in terms of customer confidence in banks at 84 per cent in 2022
Here’s how to ensure your SME is set to deal with the advent of UAE’s corporate tax from June
The company deployed Dhs107bn in industries such as life sciences, renewable energy and digital infrastructure
The CBUAE update showed a year-on-year growth of 15.2 per cent over the same period last year
Proceeds of the sukuk will be used in accordance with Aldar’s Green Finance Framework to finance green initiatives and acquisitions
The Gulf state is considering the plan on the hopes that more trading would raise investment returns, reduce costs and help with diversification
Latest data from the central bank shows that gross credit surged by 1.2 per cent to Dhs1.89tn in February from 1.87tn a month earlier, driven by a 1.6 per cent increase in domestic credit