Category Archives: Business

UAE: banks warn of new tax law implications

The UAE's tax free status has made it a popular destination with professionals from around the world but could things be on the cusp of change?

UAE  banks are starting to warn their customers about new international tax compliance measures that will take effect in January as governments ramp up efforts to catch tax evaders. HSBC sent a circular to clients on Thursday alerting them to … Continue reading

Category: Business

MOROCCO: MULTI BILLION EURO BOOST TO ENERGY SUSTAINABILITY

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The European Bank for Reconstruction and Development (EBRD), the Agence Francaise de Dèveloppement (AFD) and the European Investment Bank (EIB) are teaming up to further  strengthen sustainable energy measures in Morocco, with the support of the European Union Neighbourhood Investment Facility (EU … Continue reading

Category: Business

TRUMP WIN THROWS A SPANNER IN THE WORKS OF OPEC

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With Donald Trump winning the US presidential election, the 14-country oil-producing cartel OPEC may have to battle a sourer outlook for the global economy and weaker demand for crude. It also faces the prospect of increased US oil output – a … Continue reading

Category: Business

EGYPT, JORDAN, MOROCCO & TUNISIA go greener

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Egypt, Jordan, Morocco and Tunisia will be among a group of countries to benefit from a  Green Climate Fund allocation of  $378 million to support green investments by the European Bank for Reconstruction and Development (EBRD) under the Bank’s Green … Continue reading

Category: Business

OMAN: tackling the economic downturn

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By Pat Lancaster Oman is not blessed with the same vast oil and gas resources of some of its neighbours but through a long term policy of “good housekeeping” and wise leadership the sultanate enjoys an enviable position among its … Continue reading

Category: Business

Saudi Arabia: domestic bond sell-off gains pace

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The Saudi Arabian government is raising up to SAR20bn ($5.3bn) from banks in this month’s sale of domestic bonds, financial website Maaal reported. The government began the regular monthly sales in mid-2015 to help cover a budget deficit caused by … Continue reading

Category: Business

Turkey’s Afken boosts renewables portfolio with international investment

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TURKEY BUSINESS/ TURKEY RENEWABLES/ EBRD IN TURKEY/ International investment in Turkey Continue reading

Category: Business

QATAR: 3 years of budget deficits predicted

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Qatar has fully rejoiced in its position as one of the wealthiest countries in the world in a host of ostentatious programmes, some of which might be said to have been politically unwise. Continue reading

Category: Business

Moody’s cuts Saudi, Oman, Bahrain debt ratings

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Moody’s Investors Service cut its debt ratings for Saudi Arabia, Oman and Bahrain on Saturday while assigning negative outlooks to three neighbouring states, as low oil prices continue to undermine government finances in the region. The rating agency downgraded Saudi … Continue reading

Category: Business

Kuwait’s Investment Dar seeks backing for new $2.7bn debt plan

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Kuwait’s Investment Dar has offered to hand assets to creditors immediately, a source close to the company revealed, in a bid to win them over to its latest plan to restructure debts of KD 813m ($2.7bn). The move represents a significant … Continue reading

Category: Business