Wednesday, April 24, 2019

Money & Business

Latest updates on Middle East businesses,Growth of Financial Sectors,Implementation Of Latest Technology and Role of Consumers.

Qatar government prepared to cover banks if deposits “withdrawn”

Qatar’s government is prepared to support local banks if foreign institutions withdraw deposits from them because of an economic boycott against Doha.Yousef al-Jaida, Chief...

Millionaire households in UAE set to rise by 4.8%

The UAE will see the size of personal fortunes held by residents, as well as the number of millionaires, rise in the next five...

Bahrain: Private wealth rising 4.5% to hit $200bn

Overall growth of private wealth in Bahrain is expected to increase steadily to 4.5 per cent compound annual growth rate (CAGR) and reach $200...

Dubai a second-home hub for multi-millionaires

High net worth individuals mostly buy second homes in the Palm Jumeirah, Emirates Hills and Downtown DubaiDubai ranks among the top five second home...

Fines, recruitment bans for recruiting other sponsors’ workers in Saudi

An official at the Ministry of Labor and Social Affairs said companies that employ other sponsors’ workers or allow their workers to work for...

Saudi Oger reportedly ‘finished’ amid multi billion dollar cash crunch

Saudi Oger is reportedly on the brink of shutdown owing to a cash crunch that has left the company unable to pay its employees. The...

Attempt to steal $173 Million from UAE bank foiled

Abu Dhabi’s Public Funds Prosecution and Criminal Investigation Department have foiled an attempt to steal more than Dhs635-M ($172.8-M) from the account of a...

Bahrain: Company releases salary arrears of unpaid workers

A construction company has started releasing the salary arrears of workers who have not been paid for a long time after the successful intervention...

Fines up to SR25,000 for violating labor rights in Saudi

The ministry posted on its official Twitter account a list of penalties that will be imposed on employers if they violate the rights of...

Saudi expat tax will hit workers & businesses

The expatriate levy in Saudi Arabia will be a financial burden on both foreign workers and businesses, analysts have said.Starting next month, the kingdom...
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