Ministry of Finance meets training centres for employee development

The Ministry of Finance (MoF) recently held its annual meeting with a number of development and training centres, to better familiarize itself with the different training partners available in the UAE. Held by Ministry of Finance’s Human Resources Department, the meeting falls in line with the Ministry’s efforts to continuously promote development among its employees, and to enhance their ability to effectively manage federal government financial resources. Read more

Top tips for making most of your money abroad

As the weather grows gloomier and the economy hurtles back towards recession, bidding the Eurozone and UK farewell for pastures new has never looked more appealing. However, the dream could soon turn into a nightmare if you don’t manage your finances, says David Howell, chief executive, Guardian Wealth Management.

Dubai sunny weather and a relaxed lifestyle are undoubtedly good for the soul, but figuring out how to manoeuvre your financial affairs amidst rollercoaster global markets can be a real headache.

Here we look at the top tips for making the most of your money when moving abroad: Read more

Tamweel reports 2011 net profit of AED 102 million

Tamweel PJSC, the UAE Islamic home finance provider, announced today its financial results for the 12 months ending December 31, 2011, demonstrating continued profitability during a period of increased stability in the domestic property market.

Tamweel reported a net profit of AED 102 million for 2011, compared with AED 26 million in 2010. For the fourth quarter of 2011, the company reported a net profit of AED 31 million, compared to AED 8 million in the same period in 2010. Read more

MENA Private Equity Association launches at DIFC

The MENA Private Equity Association announced its official launch at the Dubai International Finance Centre this week.

The Association is a platform for facilitating more investment by private equity and venture capital funds in the region, exchanging information, and lobbying for a better investment environment. Read more

Opportunity to develop local asset-management industry

The first attempts to introduce a pensions system for expatriates in UAE were revealed back in 2008, when the General Authority for Pensions and Social Insurance said that it was researching a proposed “pension savings” draft law. The promised legislation failed to materialize at the time, but now seems closer to realization. Read more

Adopt early to changes in Payments Industry

All the innovation in technology and business administration naturally prompts rapid changes in consumer behaviors. It is becoming increasingly difficult to separate what will shape the future of payments from what is just a hype nowadays. However, close examination of the “innovation clusters”, known also as incubators for new technology aiming at consumer simplicity, now signals that an innovation in the payments industry is ready for prime time. Read more

Changes in MENA Tax laws promote better transparency

According to a panel discussion at the recently concluded Ernst & Young’s Middle East & North Africa Tax Seminar 2011 held in Houston, Texas, significant new developments in the MENA region are impacting tax outcomes, compliance procedures of companies and promoting better transparency. Presentations by Ernst & Young MENA Tax Leaders highlighted that tax authorities in the region have begun to depart from earlier accepted and expected tax norms. Read more

Abu Dhabi’s Department of Finance and Statistics Centre- Abu Dhabi Sign a Cooperation Agreement

In keeping with its commitment to forge strong partnerships and collaboration with various departments and government entities in the UAE, 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 between them, thereby boosting the strategic partnership between Department and the Center. The signing ceremony for the same was held at the DoF head office. Read more

Workshop on Tax Agreement Principles, International Tax Systems

The Ministry of Finance (MoF) organised a workshop today at the Movenpick, Dubai on the practical applications of the principles of tax agreements and international tax systems in partnership with the Organisation for Economic Co-operation and Development (OECD). The three day event is being held in line with the UAE’s efforts to enhance its partnerships with other countries and Arab states and with regional and international organizations. It also highlights the important role that the UAE’s economy plays globally. Read more

VoiceTrust, CBD to launch co-branded Visa Prepaid Payroll Card

VoiceTrust a global leader and provider of Digital Payments and Voice Biometric solutions announced today their strategic partnership with Commercial Bank of Dubai. Read more

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