Government, financial sectors top cyberattack targets
The Middle East's oil and gas sector also stays on hit list of of cyberattackers, Trellix CEO Bryan Palma tells...Business
New UAE law boosts family business growth
Haoula considers it extremely important to sustain family businesses as a recognition for their efforts historically, and for the advantages...Corporate tax in the UAE is expected to be among the most competitive in the world, due to the 9% introductory rate and no tax for profits up to $102k
Personal income that does not come from a licensed business or commercial activity in the UAE will not be subject to corporate tax
Moody’s says Ukraine war endangers global economic recovery
The Russia-Ukraine conflict and subsequent sanctions have increased risks to the global economic outlook, with effects that will depend on the...Europe's recovery would be at risk if the military conflict escalates, according to VP-Senior Credit Officer at Moody's, Kelvin Dalrymple
Rising prices for commodities from the region, such as oil, grains and metals, are increasing inflationary pressures, Moody's said
High oil prices lift up Saudi and UAE indices
Thanks to a spike in crude oil prices pushed beyond $100 by the Russian-Ukraine conflict, the stock markets of Saudi...The Saudi index "TASI" rose by 2.6 percent and the Dubai index rose by 4.7 percent. The Abu Dhabi index achieved the highest increase by 7 percent monthly
On February 28 the Abu Dhabi index experienced its highest one-session rise since December 6, climbing 2.2 percent
Malaa Technologies to set up a bank in KSA
Malaa Technologies will launch its banking operations in Saudi Arabia after it obtained an approval from the kingdom’s central bank.Malaa has concluded its integration efforts with the Arab National Bank’s systems to become the first lender whose customers can link their accounts directly through open banking
It seeks to contribute to the National Savings Strategy and plans to work with the financial sector development program partners to achieve these goals
Saudi Arabia and Jordan to boost trade ties to more than $1bn
The Makkah Chamber of Commerce and Industry and Jordan have signed an agreement to boost economic ties between the two...The deal holds considerable significance as trade exchange between Saudi Arabia and Jordan was still “below expectation” despite common interests
Saudi Arabia is the second-largest commercial partner for Jordan
UAE adopts Ramadan working hours for federal authorities
The UAE Government on Friday announced the official working hours during the holy month of Ramadan for ministries and federal...The decision also allows federal authorities to implement flexible working and remote work systems on Fridays during the month
The rules for working from home stipulate that both employees and their work should meet related requirements
Hermes, Chanel, Louis Vuitton pause business in Russia over Ukraine war
Hermes group runs three stores in Russia, including one in the Gum department store on Red Square, and employs 60...Hermes group runs three stores in Russia, including one in the Gum department store on Red Square, and employs 60 people in the country
Chanel, which has 17 stores in Russia, said that “major uncertainty and the complexities of operating” had led it to temporarily suspend its operations in the country
Iraq’s February oil exports highest in last two years
The rate of Iraq's exports during February amounted to 3.314 million barrels per day.The rate of Iraq's exports during the month amounted to 3.314 million barrels per day
The revenues for March will be higher than the last month, based on the current market data
Volkswagen plans 2 bn euro electric car plant in Germany
The announcement of the $2.2 billion investment came on the same day Tesla got the green light from local officials...The announcement of the $2.2 billion investment came on the same day Tesla got the green light from local officials to start production at a new plant near Berlin
Volkswagen aims at dominating the electric car market by 2025 as it accelerates the pace to catch up with US pioneer Tesla
Dubai sees weeklong real-estate transactions worth $1.91bn
The total number of real-estate transactions in Dubai stood at 2,131 for the week ended March 4.
