The UAE Ministry of Finance (MoF) has denied any plans currently to raise the value added tax (VAT) in the country. VAT is currently levied at 5%. The denial comes on the heels of Saudi Arabia …
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Dusty, windy weather alert issued in UAE on Monday
UAE has issued a weather alert for Monday with strong winds and high waves lashing the country. According to the national Met department, the weather forecast for today is dusty and partly cloudy over …
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Fake Airbnb website scam snares British pilot in Dubai
A British pilot in Dubai has become the latest victim of a sophisticated property rental scam run by cyber criminals using a fake Airbnb website. Less than two months after Indian manager Anamika lost …
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Abu Dhabi bets on virtual events to revive tourism
Abu Dhabi welcomed more than 11 million tourists in 2019. Now that travel restrictions are preventing visits from overseas, the city is encouraging people to experience its cultural events online.
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Majid Al Futtaim set to open Sharjah’s biggest mall in March
Majid Al Futtaim’s decision comes in the light of the global disruption in the retail sector due to the Covid-19 pandemic. The additional months will allow all of City Centre Al Zahia’s tenant …
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Dubai Chamber Stages Online WorkShop On The UAE National Self-Employment Platform
A new platform to promote skilled UAE citizens providing fee-based services to government and private agencies.
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Under virus pressure, Saudi Aramco may cut government payout
Saudi oil giant Aramco may cut its dividend to the Saudi government, but is likely to maintain payouts to minority shareholders as a plunge in crude prices shrinks first-quarter profits, …
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UAE not planning VAT hike: finance minister
DUBAI – The UAE has no plans to increase its value-added tax rate, its finance minister told Al Arabiya TV on Monday, after Saudi Arabia said it would triple its rate. Saudi Arabia on Monday said it …
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UAE Central Bank, ADGM to host fintech event in November
The central bank has developed a fintech strategy that comprises of fivepillars. These include: (i) research and the application of potential fintech solutions to address the need …
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Sharjah seizes over 1,200 bird-call devices used by hunters
Some 1,265 devices that were all used to attract birds – and hunt them down – have been seized in Sharjah, authorities said on Monday. After several intensive campaigns, the Sharjah Environment and …
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Abu Dhabi Offers 20% Refunds on Some Commercial Property Leases
Abu Dhabi, the oil-rich capital of the United Arab Emirates, started offering a 20% refund on the annual rental value of their commercial property leases of restaurants as well as tourism and …
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UAE has no plans to follow Saudi in VAT increase – official
Saudi Arabia earlier on Monday said that from July 1 VAT would increase to 15% from 5%, with the kingdom seeking to contain the financial hit caused by low oil prices. In a statement, the UAE finance …
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UAE rules out any change in VAT rate after Saudi hikes it to 15%
Al Arabiya TV also reported that the UAE has no plans to increase VAT. In a surprise move on Monday, Saudi Arabia increased VAT threefold to 15 per cent and also suspended the cost of living allowance …
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Abu Dhabi announces partial refund for restaurant and tourism property leases
Abu Dhabi has announced a 20% refund on annual commercial property leases for restaurants and for tourism and entertainment facilities, state news agency WAM reported on Monday.
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Dubai RTA posts record savings of power, water
Dubai’s Roads and Transport Authority (RTA) has achieved record savings in the use of power by implementing 46 projects and initiatives during 2019 as part of its Green Economy strategy. Numbers …
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Dubai business activity in April hit due to Covid-19
Lockdown measures in Dubai dampened the spread of coronavirus disease 2019 (Covid-19) and had another drastic impact on business activity in April, said IHS Markit Dubai Purchasing Managers’ Index …
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Abu Dhabi’s Mubadala hires banks for bond issues – sources
Abu Dhabi’s state fund Mubadala has hired banks for a potential three-tranche bond issue consisting of six-year and 10-year conventional bonds and 30-year dual-listed Formosa bonds, sources said on …
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