Tayfun Coskun | Anadolu Agency | Getty Images People visit the Charging Bull Statue during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 25, 2020. U.S. stock futures were lower early Monday morning as the market tried to bounce back from its longest weekly losing streak in about a year. Dow […]
Dubai’s biggest bank increased impairments more than four times, resulting a 24% drop in its first-quarter profit, according a statement Emirates NBD set aside about $700 million in the first quarter to cover bad loans, giving investors a glimpse at the damage the coronavirus and lower oil prices are wreaking on bank earnings in the […]
Saudi Arabia’s main equity index advanced the most in the Middle East after the pricing of Saudi Aramco’s initial public offering and amid hopes of higher oil prices. The Tadawul All Share Index rose as much as 1.8% within the first hour of trading on Sunday. The kingdom raised $25.6 billion from the world’s biggest […]
RIYADH: A UAE delegation led by Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance has participated in the G20 Finance Ministers’ and Central Bank Governors’ meeting on December 6-7 in Riyadh, Saudi Arabia. This is the second meeting held in Riyadh after the G20 ‘Sherpa’ meeting, part of the 124 G20 meetings to […]
Value Added Tax or VAT is a tax on the consumption or use of goods and services levied at each point of sale. VAT is a form of indirect tax and is used in more than 180 countries around the world. The end-consumer ultimately bears the cost. Businesses collect and account for the tax on […]
(Reuters) – Bank of America Corp (BAC.N) lowered its annual net interest income guidance on Wednesday to reflect a weakened interest rate environment as the second-largest U.S. lender reported higher-than expected earnings fueled by strong consumer trends. FILE PHOTO: A Bank of America building is seen in Los Angeles, California, U.S., May 6, 2019. REUTERS/Lucy […]
Shrugging off slowdown in the financial sector and macro-economy, Dubai International Financial Centre (DIFC) marched ahead in 2019, attracting more companies in the first half of this year that will further cement the emirate’s position and ranking among the world’s top financial centres. The region’s largest financial centres said the number of companies increased 14 […]
Dubai Commercity to open by year-end
UAE will contribute $4.6 billion to regional e-commerce industry. Dubai Commercity, the first of its...
UAE startups unearth ‘greatest’ innovations amid pandemic
Government has central role to play hand-in-hand with entrepreneurs in directing new economic landsc...