Saudi Arabia gets a new bankruptcy law

Saudi Arabia gets a new bankruptcy law

Saudi Arabia is planning to follow the United Arab Emirates in introducing a bankruptcy law to help its efforts to boost foreign investment into the oil-dependent economy, according to the Al Arabiya news channel.

Published : 22, Sep 2017
Practices in the UAE financial sector ‘no longer tolerated’

Practices in the UAE financial sector ‘no longer...

Some formerly tolerated business practices in the Middle East’s financial services sector are now subject to clearly set out restrictions, says William Wells, director of Middle East sales at Schroders.

Published : 20, Sep 2017
So, you’re moving to the UAE…

So, you’re moving to the UAE…

People moving to the UAE for the first time have a lot to think about and prepare. As a result, the British Embassy has launched its ‘checking in’ campaign, offering tips and advice on how to settle in quickly and smoothly.

Published : 18, Sep 2017
Massive fraud puts 54 in Abu Dhabi court

Massive fraud puts 54 in Abu Dhabi court

Defence witnesses will take to the stand on Sunday on behalf of 54 men charged with scamming almost 2,000 people in a Ponzi-style investment scheme believed to be the biggest in Abu Dhabi history.

Published : 13, Sep 2017
Advisers in UAE face tougher environment for financial planning

Advisers in UAE face tougher environment for financial...Lock icon

The chief executive of a leading UAE advice firm has warned that increased regulation will reduce the survival prospects for many financial consultancy firms in the Emirates if the obvious warnings from regulators are ignored.

Published : 7, Sep 2017
Saudi Arabia scales back Vision 2030 plan to diversify economy

Saudi Arabia scales back Vision 2030 plan to diversify...

Saudi Arabia is redrafting a series of reforms aimed at boosting the country's non-oil revenue, amid concerns some of the initiatives could negatively impact the economy.

Published : 7, Sep 2017
Zurich names Peter Huber as CEO of international business

Zurich names Peter Huber as CEO of international...

Peter Huber has been appointed chief executive of Zurich International, bringing together as one team the insurer’s international life businesses in the Middle East and Isle of Man and Zurich International Corporate Solutions, including Zurich Eurolife.

Published : 7, Sep 2017
Saudi Arabia opens registration for VAT to top up oil revenue

Saudi Arabia opens registration for VAT to top...

Saudi Arabia has opened registration for the new 5% value added tax (VAT), which begins on 1 January next year as part of a move to diversify its economy away from a reliance on oil revenues.

Published : 4, Sep 2017
Leading advisers predict new UAE rules will cull firms by 50%

Leading advisers predict new UAE rules will cull...

New capital requirements for licensed UAE insurance brokers will amount to a "cull" that could see the number of regulated firms drop by more than half, the heads of two large advisory firms operating in the region have suggested.

Published : 30, Aug 2017
UAE issues new tax law to implement 5% VAT

UAE issues new tax law to implement 5% VAT

The government of the United Arab Emirates has issued a decree paving the way for its new value added tax (VAT) system to be implemented from 1 January 2018, which will cover the financial services sector.

Published : 29, Aug 2017
Hong Kong and Dubai market watchdogs partner on fintech

Hong Kong and Dubai market watchdogs partner on...

Hong Kong and Dubai-based securities watchdogs have penned a cooperation agreement on fintech innovation.

Published : 29, Aug 2017
S African expats must assess tax liability before September

S African expats must assess tax liability before...

In the furore over the removal of the tax exemption on foreign earnings, it has become clear that many South African expats are not fully aware of their existing tax obligations on offshore savings and investments and time is running out, warns Old Mutual Wealth’s David Denton.

Published : 23, Aug 2017
Goldman Sachs gets Saudi equities trading licence

Goldman Sachs gets Saudi equities trading licence...

Goldman Sachs received approval on Sunday to trade equities in Saudi Arabia, joining a growing cohort of western investment banks and fund managers expanding in the kingdom.

Published : 21, Aug 2017
Some workers exempted from Saudi expat tax

Some workers exempted from Saudi expat tax

All contractors working on public sector projects that started before December 2016, when the levy was first announced, will be exempt from paying the expat workers’ tax.

Published : 21, Aug 2017
Over 700,000 expats leave Saudi ahead of visa crackdown

Over 700,000 expats leave Saudi ahead of visa...

An amnesty for expats working and living in Saudi Arabia illegally has seen more than 700,000 people take advantage of the scheme that will allow them to return legally in future, as the government prepares to track down those who opted to stay.

Published : 18, Aug 2017
Abu Dhabi creates foundations framework for wealth management

Abu Dhabi creates foundations framework for wealth...

Abu Dhabi Global Market (ADGM), the financial free zone in the capital of the UAE, has launched of a new legal structure to support the growth of its wealth management industry.

Published : 17, Aug 2017
Cost of one child’s education in UAE hits AED1m

Cost of one child’s education in UAE hits AED1m...

The cost of putting one child through education from pre-school through to university could reach almost AED1m (£211,456, $272,241, €232,584)for families in the United Arab Emirates (UAE), research from Zurich – Middle East shows.

Published : 16, Aug 2017
OMI posts sharp rise in Middle East client inflows

OMI posts sharp rise in Middle East client inflows...

Old Mutual International, the offshore arm of Old Mutual Wealth, has seen striking growth in cash inflows from clients in the Middle East during the first half of 2017, according to interim results posted on Friday.

Published : 11, Aug 2017
Zurich's future plans in the Middle East as regulations bite

Zurich's future plans in the Middle East as regulations...Lock icon

A 23-year Zurich veteran, Walter Jopp has travelled around the world during his tenure. With roles in the UK, two stints in the US, Hong Kong and now Dubai, he has pretty much seen it all. Jopp talks to International Adviser about the raft of new regulation sweeping through the UAE and how the life company is busy preparing for the future.

Published : 10, Aug 2017
Islamic fintech makes inroads into Europe

Islamic fintech makes inroads into Europe

Abu Dhabi Global Market (ADGM) has announced two new partnerships with non-profit associations in London and Zurich aimed at strengthening its position as a global fintech hub for the Middle East.

Published : 7, Aug 2017

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