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Saudi Aramco CEO calls energy transition strategy a failure
Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure on Monday. "In the real world, the current transition strategy is visibly failing on most fronts," Saudi Aramco Chief Executive Amin Nasser said...
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UAE leads global charge in generative AI adoption
With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far surpassing the global average, say a report. -
KPMG’s global revenue touches $36bn
The company has outlined a collective investment of $4.2b. -
KPMG to merge UK, Swiss ops
The UK unit employs about 17,000 staff and the Swiss over 2,600. -
Global CEOs rank political uncertainty as biggest risk to business
Dubai, UAE-- CEOs from around the world consider geopolitics and political uncertainty as the greatest risk to the growth of their business — be it navigating a company’s presence in a conflict zone or attempting to navigate disrupted supply chains and manage price fluctuations. The conclusion emerged from a survey... -
ADGM’s Registration Authority fines KPMG Lower Gulf $30,000
Abu Dhabi, UAE -- The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has fined ADGM-registered audit firm, KPMG Lower Gulf Limited (KPMG), $30,000 for ineffective systems and controls leading to non-compliance with audit requirements under RA-administered legislation. ADGM audit regulatory framework requires audit reports to be issued and... -
UAE takes steps for smooth rollout of corporate tax
The Ministry of Finance calls on public to rely only on official publications for information on the tax law, while Dubai launches an integrated training programme for tax awareness. -
UAE banks recover, but customers remain unsatisfied
The sector, according to a KPMG report, scores low on customer satisfaction due to operational issues, lack of timely support, long waiting times and lack of feedback. -
KPMG Lower Gulf revenues up, workforce rises by 21 percent
KPMG International announced annual aggregated revenues for KPMG firms globally of $32.13 billion for the fiscal year ending 30 September 2021. Reporting a 10 percent increase in US dollar revenues from 2020, this follows an extensive period of investment and focus on priority services and solutions addressing the challenges faced by... -
How can GCC companies respond to Global Minimum Tax rules?
The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023. -
Damac board okays Maple buy
Maple is wholly owned by Damac ex-chairman Hussain Sajwani. -
KSA, UAE lead GCC in maritime trade
Saudi Arabia is planning to invest US$36bn in logistics and aims to become a regional hub for the shipping sector, a position enjoyed by the UAE for many years. -
New technology rejigs Gulf maritime sector
Real time data coupled with effective supply chain technology came in handy for the industry after the aviation sector was grounded following the spread of COVID-19 globally. -
‘Transparency key to success for corporates in MENA’
Good corporate governance and best practices have been driving the shift in the regional market, says Jamal Fakhro, Managing Partner at KPMG Bahrain, in an exclusive interview -
Non-performing loans ratio for GCC banks up by 0.4%: KPMG report
Report provides banking industry leaders with analysis along with insights and forward-looking views Cost and operational efficiencies expected to remain a top priority for banks in 2021 The overall non-performing loans (NPL) ratio for the Gulf Cooperation Council banking sector has increased by 0.4% and now stands at...