Abu Dhabi / WAM First Abu Dhabi Bank (FAB), has secured a licence from the Saudi Arabia Monetary Authority (SAMA), to establish a commercial banking business in Saudi Arabia as part of its organic growth strategy. The current licence allows FAB to operate up to three branches across the Kingdom, and follows the recent approval from the Capital Market Authority ...

Dubai / WAM The Federal Tax Authority (FTA), and Dubai Land Department (DLD), have confirmed that the UAE’s recently introduced VAT will have a limited impact on the real estate sector. FTA and DLD have stated that all real estate transactions, with the exception of the sale of vacant commercial properties and commercial property leases, will be either not subject ...

Bloomberg President Donald Trump welcomed Saudi Crown Prince Mohammed bin Salman as a friend of the US. “A lot of people are at work” because of Saudi Arabia’s business, Trump said, adding that the kingdom has finalised $12.5 billion in purchases of planes, missiles and frigates from US companies. Crown prince Mohammed praised the kingdom’s “really deep” relationship with the ...