Other Briefings
UAE Releases New 500 Dirham Banknote
The UAE Central Bank has issued a new 500-dirham polymer banknote with designs that reflect the UAE’s leadership in sustainability, featuring the Museum of the Future building on the front. The new banknote will be put into circulation starting Thursday, November 30, along with all paper and polymer banknotes currently in circulation. 500 Dirhams is […]
The Philippines Enters Islamic Financing Sukuk Bond Market
Manila to issue US$1 billion Sukuk bond in a national first as it targets Middle East financing In a groundbreaking move, the Philippines has officially declared its entrance into the Islamic finance market. The Philippines Bureau of Treasury (BTr) disclosed plans for a benchmark-sized Sukuk offering denominated in US dollars with a 5.5-year tenure.
Kuwait’s Economy: Opportunities, Challenges, & 2024 Outlook
Kuwait has the world’s largest sovereign wealth fund but economic reforms are still needed By Farzad Ramezani Bonesh Kuwait gained independence from the United Kingdom in 1961, and has since developed to become one of the most stable economies in the Middle East region after oil discoveries. It is located at the tip of the […]
Germany’s trade with the GCC, 2023/24 Status and Prospects
By Farzad Ramezani Bonesh Variables from the First World War, the Second World War, and the reunification of Germany, have all influenced the view and approach of German foreign policy towards the GCC in the 20th century.
Dubai and Shanghai Stock Exchanges Sign Capital Market Development MoUs
The Dubai Financial Market (DFM), Nasdaq Dubai, and Shanghai Stock Exchange (SSE) have announced the signing of a Memorandum of Understanding (MoU) to further strengthen the ties between the capital markets of Dubai and China, marking a significant milestone in cross-border collaboration. This partnership represents a significant milestone in cross-border collaboration and aims to facilitate […]
Abu Dhabi Provides Tax Incentives For AI Investors and Start Ups
100% Foreign Ownership and Income Tax breaks permitted in this crucial hi-tech sector Abu Dhabi is looking to attract AI start-ups with a new licence package and special offers. The Masdar City Free Zone has introduced a new licensing package for start-ups and businesses focused on artificial intelligence (AI). The package is part of a […]
Saudi Arabia’s Upcoming 2024 Tax Reforms: The Proposals
Foreign investors should take note of sweeping changes to Saudi Arabia’s tax laws Riyadh has proposed new income tax and procedures laws to take effect during 2024 and 2025, with these available for public feedback until December 25. These are part of national tax reforms to modernise its tax system, increase transparency, and encourage foreign […]
An Overview Of Iran’s Mining Industry & Opportunities
Significant wealth is buried in Iranian mineral reserves with the BRICS about to take advantage By Farzad Ramezani Bonesh There are many signs that Iran’s mineral reserves and discoveries and extraction of minerals such as copper, iron, zinc, turquoise, and silver have constantly played an important role in the lives of the Persians throughout its […]
Saudi Arabia, India and Indonesia Set To Be 2024’s Fastest Growing Global Economies
Saudi Arabia will be among the world’s fastest growing economies in 2024, according to a note published by credit ratings agency Moody’s this week, with Kingdom’s GDP growth forecast to expand by 4.6% next year. This means that the Gulf’s biggest economy will be among the three top fastest growing countries in the world next […]
UAE Clarifies Free Zone Commodity Traders, IP, and Related Party Services Tax Exposure
The much sought after zero per cent tax opportunity has been further clarified and expanded A new cabinet decision and a corresponding ministerial decision – repealing earlier decisions – has been issued with retrospective effect from June 1, 2023, introducing some new concepts and clarifying several pertinent issues.
