Finance

Commodities had an eventful year all-together, but ended the 2011 roughly unchanged. The energy-heavy MLCX TR and S&P GSCI TR indexes returned -2.6% and -1.2%...

Annual volumes for 2011 on the Dubai Gold and Commodities Exchange (DGCX) registered a substantial growth of 110% from 2010 to reach 4,044,138 contracts, the highest ever annual volumes achieved by the Exchange since inception.

According to a panel discussion at the recently concluded Ernst & Young’s Middle East & North Africa Tax Seminar 2011 held in Houston, Texas,...

the Department of Finance (DoF) recently entered into a cooperation agreement with the Statistics Centre – Abu Dhabi (SCAD). The agreement aims to strengthen ties between the two parties and will help facilitate better exchange of statistical data and business intelligence

Emaar Properties PJSC has signed a new Islamic and Conventional financing facility amounting to AED 3.6 billion (approx. US$ 1 billion) with Dubai Islamic Bank PJSC, National Bank of Abu Dhabi and Standard Chartered Bank as Mandated Lead Arrangers and Bookrunners.

Kuwaiti Finance Minister Mustafa Al-Shemali reiterated on Sunday that the establishment of the GCC Central bank is in its final phases, pointing out that the concerned states which joined the GCC union are implementing this agreement.

Despite a short-term caution, equities on a 2-3 year view look persuasive. Investors enter 2012 in a fearful state, but any sharp falls in equities in 2012 it is doubtful.

MSCI announced it will extend review for reclassification of the U.A.E. and Qatar from frontier status “in order to give additional time for market participants to assess the effectiveness” of the new payment systems in the exchanges.

Ministry of Finance organised a workshop on practical applications of principles of tax agreements and international tax systems in partnership with Organisation for Economic Co-operation and Development.

Standard & Poor’s (S&P) is currently reviewing credit ratings on 50 banks in the Middle East and North Africa under a revised set of criteria.

American Express Middle East announced the launch of its ‘Experience UAE’ campaign.

UAE has signed an agreement with Russia relating to taxation on income of public investment organizations. The agreement highlights efforts of enhancing different types of investment opportunities.

Emirates NBD announced today, that it has won the 2011 Global Award for “Brand Leadership in Banking and Financial Services.”

Ministry of Finance is studying possibility of setting up an organization to keep records of mortgages of capital assets to ensure funding for national small and medium enterprises.

Investors should focus on investments that offer yield, quality and diversification amid expectations that the global economy will avoid recession but experience fragile growth in 2012

Gbulllion.com has been painstakingly designed to simplify the complex processes that underlie the the acquisition and movement of physical quantities of gold bullion from its source into the world’s most highly secured vaults.

Central Bank of UAE, announced money supply M0 increased by 4.2 per cent from AED 49.9 billion at end of September 2011 to AED 52.0 billion at the end of October of same year.

Premier financial services group MENA CORP is pleased to announce it received approval to operate as a broker on NASDAQ Dubai, a step that would enable it to trade and clear securities for clients on the region’s international exchange.