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Mashreq may move jobs to India, Egypt, or Pakistan to save costs

Mashreq Bank plans to move nearly half of its employees to more cost-friendly locations

2021 UAE banking sector outlook stable despite asset quality pressures.

As we are heading towards the end of a whirlwind year,

Coronavirus – A Global Pandemic

The Coronavirus or the Covid-19 started from the Wuhan city of

How profitable were the UAE’s top banks?

Combined net profits of 18 banks listed on the UAE’s financial markets rose to $6.67bn in the first half of 2019 The combined net profits of 18 national banks listed on the UAE’s financial markets rose to AED24.5 billion ($6.67 billion) in the first half of 2019, compared to AED21 billion in the same period […]

UAE, Saudi banks to benefit from rising interest rates

Low cost deposits, floating rate loans to improve loan yields. Dubai: Banks in the UAE and Saudi Arabia are expected to benefit from the rising interest rates after the recent interest rate hike by the Federal Reserve, according to rating agency Moody’s and independent analysts. Central banks of both countries track US interest rates, as […]

UAE VAT rate remains unchanged after Saudi hikes it to 15 %

In a recent move, Saudi Arabia announced a threefold hike in the VAT raising it from 5% to 15% from July 1, 2020. In addition to this the kingdom is also reducing various expenditures and suspending the cost of living allowance. The decision has been made to offset the impact of the coronavirus pandemic on […]