business / Finance
Saudi inflation dips to 4.2%The Saudi Arabian Monetary Agency (SAMA) announced Monday that the country?s inflation rate fell to 4.2% in July, down from 11.1% for the same month last year. SAMA Gov. Muhammad Al-Jasser said he expects the decline in the inflationary rate to continue through 2009, creating a better opportunity for financial development and stability. <BR> <BR> [AMEInfo.com]
AME Tuesday, September 01, 2009Investor confidence rises in GulfAccording to a new report by Shuaa Capital, the Investor Confidence Index for the GCC rose 2.7% in August to 126.3, led by improvements in the UAE and Qatar. Investor confidence in the UAE rose 4.3%, with Qatar's measure adding 2.1%, the report said. Saudi Arabia is the market viewed second-most positively by investors, behind Qatar, according to the report. Confidence in Kuwait and Bahrain declined this month and those markets were viewed most negatively, the report showed. [AMEInfo.com]
AME Tuesday, September 01, 2009Employers seek new laws on pensions flexibilityEMPLOYERS are urging the government to introduce laws that will ease the pensions burden on company balance sheets and improve security for employees.
Scotsman Tuesday, September 01, 2009Is the Cash For Clunkers Discount Taxable to You?The Cash for Clunkers program was so popular with consumers that it was funded twice and yet still ended up being terminated a full two months before the intended deadline. The program sent a shot of adrenaline through the auto industry by creating huge price discounts. Now that the program has concluded, many are wondering if the discount is taxable as income.
E-Zine Tuesday, September 01, 2009Why You Should Be Meeting With a CPA TodayThe 2008 and 2009 fiscal years have left few untouched by the economic malaise. The Great Recession is supposedly at an end, but the slow recovery makes it hard to believe that some days. Regardless, now is the time to sit down with you CPA or tax professional to review your financial situation.
E-Zine Tuesday, September 01, 2009Aabar records $593m Q2 lossAbu Dhabi-government backed Aabar Investments, which this year has spent about $3bn to buy stakes in Daimler and Virgin Atlantic, said it posted a second-quarter loss, as it booked losses from derivative financial instruments, Bloomberg has reported. Net loss was Dhs2.18bn ($593.5m), or Dhs0.697 a share, after Aabar provided Dhs2.25bn for losses from derivative instruments in the second quarter, the company said. Aabar reported a profit of Dhs546m, or 0.607 a share, in the year-earlier period. [AMEInfo.com]
AME Tuesday, September 01, 2009Bank shares gain in Abu DhabiThe Abu Dhabi Securities Exchange (ADX) added 0.54% today, closing at 2,912.81 points. The bank sector index emerged as the top gainer (up 1.49%) after the UAE Central Bank eased significantly bank capital requirements, indicating that the worst might be over for the financial sector. Abu Dhabi's biggest lender, the National Bank of Abu Dhabi (NBAD), closed 1.47% higher at Dhs13.80. National Bank of Fujairah posted the largest profit (9.93% higher at Dhs8.97). Aabar Investments plummeted 6.74% down to Dhs2.54 after reporting a Dhs2.18bn loss for the second quarter of 2009. Aabar holds 9.1% in German car producer Daimler AG and a 32% stake in Virgin Galactic. [AMEInfo.com]
AME Tuesday, September 01, 2009Dubai market loses 1%The Dubai exchange DFM started well during trading, but eventually lost steam and closed 0.97% lower at 1,895.69 points. Shuaa Capital dipped 5.05% lower to Dhs1.88 on profit booking after the share surged over 38% since August 27. Commercial Bank of Dubai (CBD) posted the largest gain (up 2.90% at Dhs3.55). The bank said today that it has signed an agreement with the Dubai Department of Economic Development (DED), enabling its customers to pay fees electronically. Nine DFM stocks added value while 19 declined and two remained flat. [AMEInfo.com]
AME Tuesday, September 01, 2009Privatization Of Tax AdministrationState is a necessary evil- and some reasonable amount of revenue is required for its existence. Tax administration machinery exists to collect that revenue. However, since the time immemorial, the taxmen are accused of bribery, misappropriation and corruption. The accusations exist even today.
E-Zine Tuesday, September 01, 2009Selling Skype Brings Out Ebay BullsOptions traders devour calls on the online marketplace, shares of which are already up a nifty 60% this year.
Forbes Tuesday, September 01, 2009 1 2
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