Business

UAE exchange house Al Ansari seeks up to $210 million in IPO

UAE-based exchange home Al Ansari Financial Solutions is looking to raise up to 772.5 million dirhams ($210.4 million) from a going public (IPO), it said on Thursday. Al Ansari, which last week revealed an intention to float 10% of the firm on the Dubai Financial…

16 Mar 2023

Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

Financial institution shares in Asia as well as Europe have dropped, regardless of confidences from the United States president that America's financial system is risk-free complying with the collapse of two United States lending institutions. The drops come after authorities moved to protect consumer deposits…

14 Mar 2023

Rishi Sunak announces £5bn extra defence spending during US trip

Rishi Sunak has actually vowed to enhance protection investing by nearly ₤ 5bn over the next two years to counter emerging dangers from hostile states. The funding boost will certainly be validated in a new UK international and also safety and security technique, to be…

13 Mar 2023

UAE withdraws bid for 2026 World Bank-IMF meetings in favour of Qatar

The United Arab Emirates (UAE) has actually withdrawn its proposal to host the 2026 Globe Bank as well as International Monetary Fund meeting and will certainly rather support Qatar as a prospective host, the office of Qatar's emir and the UAE's state news firm said…

13 Mar 2023

South Africa current account deficit at 2.6%/GDP in fourth quarter

South Africa's bank account balance switched over to a deficiency of 2.6% of gross domestic product in the last quarter of 2022 from a little excess in the 3rd quarter, central bank information revealed on Thursday. In rand terms the bank account deficit for the…

10 Mar 2023

Silicon Valley Bank scrambles to reassure clients after 60% stock wipe-out

Greg Becker, President and CEO of SVB, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, The Golden State, U.S., May 3, 2022. REUTERS/Mike Blake SVB Financial Team (SIVB.O) rushed on Thursday to assure its equity capital customers their money was risk-free after…

10 Mar 2023

Do not mix new UAE tax residency rules with that of corporate tax

Staying under 90 days in UAE as well as doing business still makes individual liable for CT. By now you have to have listened to or reviewed of the UAE's Business Tax obligation laws as well as Tax obligation Residency Policy (TRR). Both make use…

07 Mar 2023

Rishi Sunak hails new NI Brexit deal but DUP concerns remain

Prime Minister Rishi Sunak has hailed his bargain on post-Brexit trading plans for Northern Ireland as a "crucial development". Numerous Conservative MPs, consisting of those that supported Brexit, offered their backing to the arrangement. And also the DUP, whose support will certainly be crucial to…

28 Feb 2023

Pending Home Sales Crush Estimates, Rise 8.1% in January

The boost was driven by a dip in mortgage rates as well as warmer than usual weather condition Pending residence sales proceeded their rebound in January, blowing up previous price quotes with an 8.1% boost as well as noting the second month in a row…

28 Feb 2023

UAE’s National Bonds to allow customers loans from banks against their savings

National Bonds to get financial institutions help consumers with short-term loans at lower rates UAE citizens could soon begin utilizing their cost savings with National Bonds to secure short-term lendings. Since all such lendings would certainly be supported by their existing savings, borrowers get to…