Dubai’s ability to attract foreign direct investment and sustain its ranking among the top 10 in the world is no mean feat. Especially so when global growth remains weak and volume of foreign direct investment continues to fall worldwide. Last year, the …
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Will UAE apply VAT on expat remittances too?
“I am not aware of any UAE official information on VAT in relation to the remittance service. However, if the new VAT laws follow the similar practice in the EU countries, these transactions [fees charged by financial services for the remittance services …
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Dubai's success in maintaining capital inflow, number of new FDI projects is a major achievement
Dubai’s competitive business environment that creates unique and diverse opportunities for foreign investors stems from the vision and directives of Their Highnesses, he said.
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First Abu Dhabi Bank to attract more investors to bourse
Dubai: The start of share trading on First Abu Dhabi Bank is expected to attract more investors to the Abu Dhabi bourse and reflect positively on overall trading, according to the bourse’s chief executive. In a statement on Sunday, Rashed Al Balooshi …
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FGB, NBAD merger creates UAE's largest bank
Following the legal completion of the merger between First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD) on April 1, 2017, the combined bank began trading on the Abu Dhabi Securities Exchange (ADX) today under ticker symbol ‘NBAD’. Reflecting the …
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Fire hits Dubai high-rise complex near world's tallest tower
An inferno burned early Sunday in a high-rise tower complex being built alongside Dubai’s largest mall, its thick black smoke shrouding the world’s tallest building nearby in this desert metropolis where skyscraper blazes remain a worry. Though authorities …
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Fire engulfs 72-storey skyscraper in downtown Dubai
An inferno burned early Sunday in The Address Residences Fountain Views, a high-rise tower complex being built alongside Dubai’s largest mall.
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UAE businesses face late payments
UAE companies, particularly SMEs, faced financial hurdles in 2016 after having to wait twice as long for payments. 2016 saw low recovery and low growth in the GCC due to the recent drop in the oil price, which impacted the liquidity in the market …
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Fire rips through highrise near Dubai's Burj Khalifa
DUBAI, United Arab Emirates — An inferno burned early Sunday in a high-rise tower complex being built alongside Dubai’s largest mall, its thick black smoke shrouding the world’s tallest building nearby in this desert metropolis where skyscraper blazes …
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Aldar Properties awards AED500 mln contract for Mayan development
Aldar Properties, Abu Dhabi’s leading listed property development, investment and management company, has awarded its main contract for Mayan, a luxury residential development located on Yas Island, to Ghantoot General Construction, one of the leading …
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Dubai property market to ‘bottom out’ before end of 2017
Dubai’s property market is stabilising and is on track to “bottom out” before the end of 2017, a new report by real estate consultancy Cluttons has found. While prices in the residential market continued to drop in the first quarter of the year, the …
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Dubai Real Estate Market on Course to Stabilize during 2017
A slowing rate of decline across all sectors of the Dubai real estate market suggests increasing stability and the expectation of the market ‘bottoming out’ before the end of 2017, according to leading international real estate consultancy, Cluttons.
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Free WiFi now in more Dubai taxis
Dubai: The Dubai Taxi Corporation (DTC) at the Roads and Transport Authority (RTA) has embarked on Phase II of the installation of interactive screens and free WiFi service project in 700 taxicabs in Dubai Marina, JBR, and Downtown areas. The step will …
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Abu Dhabi’s Plowing Ahead With These 10 Mega Projects During an Oil Slump
Abu Dhabi, which sits on about 6 percent of the world’s oil reserves, has pushed ahead with a construction program that began before crude prices slumped in 2014. From a branch of Paris’s Louvre museum, a new airport terminal and a nuclear power plant …
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Starting a business in Dubai: Legal business structures
The Department of Economic Development lays down acceptable legal structures for companies based in Dubai. The rules and regulations for each of these vary accordingly and the categorisation is based on the ownership of the firm. If you are a foreign …
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DO NOT PUBLISH- Abu Dhabi’s Plowing Ahead With These 10 Mega Projects During an Oil Slump
Abu Dhabi, which sits on about 6 percent of the world’s oil reserves, has pushed ahead with a construction program that began before crude prices slumped in 2014. From a branch of Paris’s Louvre museum, a new airport terminal and a nuclear power plant …
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Large fire burns in Dubai near site of dramatic 2015 blaze
A large fire broke out early Sunday at a high-rise complex under construction near Dubai’s largest shopping mall, sending thick gray smoke billowing over the heart of the city. The site is next to the Dubai Mall and near the 63-story The Address Downtown …
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