Qatar authorities announce major tax fine exemption
Banking & Finance
Federal Tax Authority
UAE small businesses reap benefits as Muwafaq package supports SME tax compliance
The package seeks to create a significant step forward in fostering innovation within the tax system and delivering comprehensive solutions that align with market needs
Al Ansari Financial Services
Al Ansari’s CashTrans partners with Sharjah Islamic Bank to enhance cash management services
Collaboration aims to streamline cash handling, boost security, and optimise cash flow for Sharjah Islamic Bank and its customers
SAMA
Saudi Arabia announces new rules for use of Riyal symbol
According to SAMA guidelines, the symbol must be positioned to the left of numerical values with a space between them
Al Salam Bank-Bahrain
Al Salam Bank offers free talabat pro subscription during Ramadan
Benefits include unlimited free delivery on food and grocery orders and exclusive discounts for 12 months; available to first 3,500 customers
Investcorp
Investcorp to invest in Italian alternative payments enabler Epipoli
The Bahrain-based company has deployed $280 million in investments since the beginning of the financial year
cross-border payments
Dubai-headquartered fintech MANSA secures $10mn in funding to expand cross-border payments solutions
The funds will support the company’s market expansion into Latin America and Southeast Asia
agribusiness
Olam Group sells 44.6% stake in agribusiness to Saudi Arabia’s SALIC for $1.8bn
Post-stake acquisition, SALIC will hold an 80 per cent controlling stake in the business
Aldar
Aldar and Emirates NBD launch co-branded Darna Visa credit card
Offers 12-month interest-free payment plan for residential purchases within Aldar’s sales portfolio, as well as tuition fees at Aldar Education, apart from other benefits
DIFC
DIFC shatters revenue and occupation records in 20th year of operation
Reports 55% jump in operating profit to $363mn; 37% increase in revenue to $484mn; 25% growth in active companies to 6,920
Careem
UAE’s Careem Pay expands remittance service to 18 European countries
Careem users can now send near-instant money transfers to bank accounts in Austria, Belgium, Croatia, Cyprus, Estonia and more
BNPL
Tamara, Mastercard launch virtual payment card in bid to grow UAE’s BNPL market
The partnership will enable Tamara to grow its product suite through added value services provided by Mastercard
digital payments
e& enterprise partners with PayPal to expand digital payment options for UAE businesses
This will be particularly beneficial for merchants in the UAE and the region looking to reach customers abroad, driving cross-border commerce and expanding their market reach
Bitcoin
Trump’s return sparks crypto surge: What does this mean for the US, Middle East?
The market’s response to Trump’s re-election and subsequent pro-crypto policies has been swift and pronounced
BNPL
Saudi BNPL market to hit $53bn by 2030 as Tabby readies for IPO
Tabby, the leading player in the BNPL market in Saudi Arabia and the region, raised $160 million last week at an estimated $3.3 billion valuation, apparently in a final funding round ahead of an IPO
DFSA
ASB Capital commences operations in Dubai, aims to bridge regional and global markets
The firm said it will offer a diverse portfolio of wealth and asset management solutions, including public markets, private markets, and investment banking
CBUAE
UAE telecom giant du adds ‘cryptocurrency’ to payment options
Customers can now opt to pay their du bills via Apple Pay or Samsung Pay, via debit or credit card and cryptocurrency
