FNC passes draft law to boost family businesses

Abu Dhabi: Members of the Federal National Council on Tuesday approved a draft law amending certain provisions of the Federal Law no. 18 of 1981, otherwise known as the ‘Agency Law’ that regulates commercial agency and distribution agreements in the country. Under the law, practicing the business of commercial agencies in the UAE is limited […]

HSBC reports strong profit growth in Mena

Dubai: In the Middle East and North Africa (Mena) markets, HSBC reported strong growth in profits with key markets such as Saudi Arabia and Egypt leading the earnings growth. For the region as a whole, the bank reported a profit before tax (PBT) of $2.32 billion in 2019 compared to $.1.55 billion reported in 2018. […]

Indians won’t get much of a salary hike this year

New Delhi (Bloomberg): Pay increases across India’s organized sector will probably grow at the slowest pace since 2009 this year, according to a survey from Aon Plc. Companies will increase average pay by 9.1 per cent in 2020, down from 9.3 per cent in 2019 and 9.5 per cent the previous year, Aon said in […]