Economy

Monitoring fuel prices committee in the country under the chairmanship of Undersecretary of the Ministry of Energy Dr. Matar Hamid Al-Neyadi, in the presence of the members of the Committee today held their regular meeting at the headquarters of the Ministry of Energy to set the fuel prices in the …

The Federal Tax Authority, FTA, has determined the “Entertainment Services” supplied to employees, for which registered businesses cannot recover the taxes they incurred, explaining that these are mainly the expenses associated with activities to entertain personnel, such as staff parties that are free to attend. The authority noted that according …

The Board of Directors of the Emirates Authority for Standardisation and Metrology (ESMA) adopted a 22 new standard in the food, oil and gas, chemistry, cosmetics , At a meeting attended by members of the Board of Directors, and held last Thursday at ESMA headquarter in Dubai. The Board of …

The Federal Tax Authority, FTA, has invited retailers, outlets and shops registered for Value Added Tax, VAT, to register in the digital system of the Tax Refund Scheme for Tourists, which will come into effect as of the fourth quarter of 2018. The Authority is implementing the Scheme in cooperation …

The Department of Economic Development (DED) – Abu Dhabi has launched a number of initiatives since the beginning of the year to drive economic growth in the emirate by bolstering the investment-conducive environment boasted by the emirate, and accelerating FDI inflows. In collaboration with the Executive Committee of Executive Board …

The Department of Economic Development, DED, in Dubai has permitted 163 free zone companies to operate in mainland Dubai following a Memorandum of Understanding, MoU, signed earlier this year between DED and the Dubai Free Zones Council. The MoU sought to enable free zone entities in Dubai to expand their …

President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued Federal Decree-Law No. 07 of 2018 amending articles within Federal Law No. 02 of 2015 on Commercial Companies. The Decree stipulates that Article 14 of Federal Law No. 02 shall be amended to reflect that the Memorandum of Association …

Dubai ranked 15th worldwide in top Financial Centres list, higher than Paris, Geneva & Los Angeles, according to the Global Financial Centre Index. Dubai also ranked 7th worldwide in ‘Infrastructure’, and 9th worldwide in both ‘Human Capital’ & ‘Financial Sector Development’.

Aldar Properties, Abu Dhabi’s leading listed property development, investment and management company, today announced the creation of Aldar Investment Properties LLC (“Aldar Investments”), the region’s largest diversified real estate investment company. The Company will take ownership of some of Abu Dhabi’s highest quality, revenue-generating real estate assets, valued at AED20 …

The UAE’s economic sectors have continued their growth since the start of the current year, according to a digital review of relevant indicators, which encouraged the banking system to fund the activities of various sectors that support the national economy. Statistics issued by the Central Bank of the UAE show …