The UAE tests a tax overhaul

Officials say the measures could take effect before the end of the quarter, although parliament has yet to schedule a vote. The deal would be the largest of its kind in the country since 2019, according to data compiled by Beirut Financial.

The announcement lifted shares in the sector by as much as four percent in early trading. Much depends on whether the government can hold its coalition together long enough to pass the legislation.

Key details

The announcement lifted shares in the sector by as much as four percent in early trading. The figures, published on Tuesday, compare with a contraction of 2.1 percent in the same period a year earlier.

“This is the most consequential moment for the sector since the crisis began.”

The plan sets out three phases, beginning with an audit of balance sheets and ending with a recapitalisation schedule. Economists expect inflation to ease into single digits by year end if the exchange rate holds.

The plan sets out three phases, beginning with an audit of balance sheets and ending with a recapitalisation schedule. Executives said demand from Gulf clients had exceeded expectations, prompting plans for a second facility in Tripoli.

Background

Economists expect inflation to ease into single digits by year end if the exchange rate holds. Bankers who spoke to Beirut Financial described the mood as cautiously optimistic, with liquidity improving month on month.

Investors have been watching the negotiations closely, with yields on the 2030 notes narrowing by 40 basis points this week. The programme includes technical assistance from the World Bank and a monitoring framework agreed with donors.

Regional peers have moved faster, and the gap is becoming harder to ignore, one former adviser said. Regional peers have moved faster, and the gap is becoming harder to ignore, one former adviser said.

The programme includes technical assistance from the World Bank and a monitoring framework agreed with donors. Much depends on whether the government can hold its coalition together long enough to pass the legislation.