Finance News

SVB's UK division sold to HSBC for £1 in biggest bank collapse since 2008 financial crisis

The Bank of England said the wider UK banking system remained safe, sound, and well capitalised

UAE: Can you claim the entire interest amount to calculate taxable profit?

As corporate tax is levied on taxable profits, which are calculated after adjusting accounting profits, interest payments can reduce taxable profits, leading to tax savings if permitted by tax authorities

UAE Central Bank helps improve hawala operators’ compliance

They are recognised as key elements in the money supply chain, but are prone to misuse

UAE: Al Ansari announces IPO, to sell 10% stake

Admission of shares to trading on the Dubai Financial Market is anticipated to occur on or around April 6

Emirates NBD recognises its ICAEW qualified UAE national CA employees

The bank's board of directors received and congratulated a group of its talented Emirati chartered accountant employees who have joined the elite Institute of Chartered Accountants in England and Wales (ICAEW) members club

ADIB shareholders approve Dh1.7b cash dividend for 2022

The bank also deliveres a return on equity of 21.4 per cent, one of the highest rates in the sector

UAE rated highest for expat lifestyle, earnings and family stability

In HSBC's latest research across nine key markets participants rate UAE most highly for five of the top 12 motivations behind the decision to relocate internationally

UAE Central Bank revokes Dollar Exchange's licence for serious violations

This is the second such occurrence this week as the regulator takes a stand against companies failing to adhere to regulatory, anti-money laundering laws

UAE Central Bank's balance totalled Dh555 billion in December 2022

The balance sheet also increased annually by 6.4%, equivalent to Dh33.4 billion compared to some Dh521.54 billion in December 2021

Is your business income exempt from corporate tax?

These are general provisions of the law, but there are exceptions like some persons are exempt from the UAE Corporate Tax Law