Economy

 The Federal Tax Authority (FTA) has clarified in a bulletin that services provided by artists and social media influencers (SMIs) for consideration are subject to Value Added Tax. The bulletin outlines that VAT applies to such services provided by artists and social media influencers that include, but are not limited …

DP World, the leading provider of smart supply chain logistics, alongside its partner Caisse de dépôt et placement du Québec (CDPQ), a global investment group, today signed a long-term agreement with Indonesia’s leading conglomerate Maspion Group to start the construction of an international container port and industrial logistics park in …

Despite a slower and only marginal improvement in business conditions around the world, to the tune of AED29 billion in cash dividends for 2020 have been proposed to date by 38 companies listed in the UAE capital markets, according to data released by the listed firms. Banks are the largest …

The value of real estate transactions in the Emirate of Ajman amounted to AED793 million in February, according to the monthly report issued by the Department of Lands and Real Estate Regulation. The report noted the stable performance of the emirate’s property market. The month witnessed the registration of 454 …

UAE financial markets on Tuesday posted gains of around AED5 billion in market cap, with ADX closing higher around 0.48 pct than the last session at 5,710 pts and Dubai’s main stocks index edging up 0.68 pct to 2569 pts. In the Abu Dhabi Securities Exchange, ADNOC Distribution jumped to …

Ajman Department of Economic Development (DED) has announced that the number of registered trademarks reached 711, including 220 American trademarks. Ajman’s DED also said that trademark infringement complaints for the year 2020 at the Emirate were all resolved, with 300 establishments fined. The announcements came during a meeting between representatives …

Fuel prices for the month of March 2021:Super 98:Before: 1.91 AED/LAfter:    2.12 AED/L  Special 95:Before: 1.80 AED/LAfter:    2.01 AED/L Diesel:Before: 2.01  AED/LAfter:    2.15 AED/L

The Central Bank of the UAE (CBUAE) has imposed sanctions on a non-authorised individual related to an exchange house operating in the UAE, after the person carried out a function without prior approval from the Central Bank. In a statement, CBUAE said the individual violated the law on Anti-Money Laundering …

The United Arab Emirates is a long-time partner that has supported Japanese economy and society, and economic relations remain robust with US$22.4 billion bilateral trade in 2020, a top Japanese official told Emirates News Agency (WAM). “As one of the most significant crude oil suppliers to Japan, the UAE is …

The Abu Dhabi National Oil Company (ADNOC) announced on Monday that its Thamama Centre of Excellence (Thamama) has generated $1.1 billion (AED4.04 billion) in business value since its inception in 2017. The announcement was made at ADNOC’s Innovation Week, which is taking place virtually from 21st -25th February. Named after …