Interesting News & Facts

  • UAE banks may hike fees to offset additional VAT costs

       April 2, 2018     
    As banks in the UAE grapple with the new value-added tax (VAT) regime and the high compliance costs associated with mandatory tax registration, it is likely that they follow international trends by increasing their fees to compensate for the additional costs, banking analysts said. "We believe it quite probable that banks will eventually be forced to incre
  • How to get a lifeline from debt in UAE

       April 1, 2018     
    In times of necessity, and also luxury, a personal finance or credit card can provide a lot of support. Unfortunately, accessing easy credit can also lead to an error in judgement, and eventually excessive debt. For some years, debt has put both UAE residents at long-term risk, with consumers using multiple credit cards, or availing substantial home and personal f
  • First female traffic patrols on Ras Al Khaimah roads

       March 31, 2018     
    The Ras Al Khaimah Police have launched the first female-only traffic patrols on the roads of the northern emirate. The two patrols are concerned with specific missions, according to Major General Ali Abdullah bin Alwan Al Nuaimi, Commander-in-Chief of the RAK Police. "Boosting and ensuring traffic flow on the roads of the emirate are part of their
  • Eight cities to compete for best UAE tech solutions

       March 29, 2018     
    Dubai: Tech start-ups from eight major cities in the world will battle it out to produce the best tech government solutions in a start-up competition called “GovHack Series” launched by the UAE Government. Job forecast shows opening of new job opportunities in the UAE as well as a strong job market. A recent study points out that the Gulf job m
  • UAE investors are young and confident

       March 28, 2018     
    Trust level among investors in the UAE's financial services sector is higher than their counterparts globally, a study by the CFA Institute revealed on Tuesday. When selecting an adviser, global investors place more emphasis on personal trustworthiness and ethical conduct, while investors in the UAE are more concerned with returns, according to the study o
  • A festival to experience UAE's rich history

       March 27, 2018     
    Camel race, Emirati traditional market and an exhibition giving an insight into the visionary life of the late Sheikh Zayed bin Sultan Al Nahyan are just a few things one can experience at Al Marmoom Heritage Village festival this year. Banking on the success of last year's attendance that saw thousands of visitors, organisers of Al Marmoom Heritage Villag
  • Dubai Islamic Bank unveils new home finance solution

       March 26, 2018     
    Dubai Islamic Bank (DIB), the UAE's largest Islamic bank, has launched a new home finance product called MyHome. The product is unique in that it gives a customer the flexibility to tailor EMIs as per his/her financial situation. For instance, you can choose a fixed rate for the entire life of the mortgage up to 15 years at a rate ranging from 5 to 9 per c

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