Fabio Aru will ride for UAE Team Emirates in 2018 after signing a three-year contract with the team. Aru’s arrival from Astana had been widely anticipated since early summer, but the transfer was only formally confirmed on Tuesday morning. Transfer news …
( read original story …)
UAE’s finance ministry yet to fix VAT rate on goods, services
The UAE’s Ministry of Finance is still in the process of fixing the value added tax (VAT) rates for goods and services, it announced on Monday. The ministry is currently developing the executive regulations of VAT, said Younis Haji Al Khouri, under …
( read original story …)
UAE Food Bank opens 2nd location in Dubai
The second operational site of the UAE Food Bank was launched on Monday at Al Bada area near Canadian University under the patronage of Easa Saleh Al Gurg Charity Foundation. The UAE Food Bank also signed cooperation agreements with three other charity …
( read original story …)
NIIF, Abu Dhabi ink $1 billion investment agreement
The National Investment and Infrastructure Fund (NIIF) announced the signing of an investment agreement worth $1 billion with Abu Dhabi Investment Authority’s (ADIA) wholly owned subsidiary. The government of India had set up NIIF as a quasi-sovereign …
( read original story …)
Dubai diamond chief warns VAT will lead to business exodus
DUBAI: The introduction of value added tax could lead to an “exodus” of firms in the gold and diamond industry from the UAE, Ahmed Bin Sulayem, executive chairman of the Dubai free zone where those businesses are based, warned yesterday. In a strongly …
( read original story …)
Abu Dhabi Investment Authority to invest $1 billion in India’s Infrastructure Fund
New Delhi | Mumbai: The Abu Dhabi Investment Authority (ADIA) will invest $1billion in the National Investment and Infrastructure Fund (NIIF), marking the start of India’s ambitious attempt to raise equity funds for the infrastructure sector. The agreement …
( read original story …)
British electrician facing Dubai jail term for touching a man’s leg says his ordeal is ‘unbearable’ after being falsely led to believe it was all over
campaign group Detained in Dubai (DiD) said. He had hoped to be home soon after his accuser dropped the complaint against him but local prosecution services are proceeding with the case. Reacting to the news he may be sent to jail, he described the ordeal …
( read original story …)
Dubai police are moving into the future with ‘Star Wars’ style hoverbikes
And Dubai police are going to start using them for patrols. “The bike can fly without a passenger and can go up to six kilometres,” First Sergeant Ali Ahmad Mohammad told Gulf News. “It can fly for 25 minutes and can carry up to 300kg of weight at a …
( read original story …)
Master-planning a megaproject: ARADA’s Aljada development in Sharjah
Middle East Consultant talks to ARADA’s Ibrahim Al Nemeh about the design, inspiration and intent of the Aljada master-planned community in Sharjah Announced on September 6 and highlighted at Cityscape Global Dubai, Aljada is a new $6.5bn mega project …
( read original story …)
Aldar Properties : ADX sees high liquidity at Monday’s close
The real estate sector rose 2.15%, pushed up by Aldar Properties and Eshraq, with 2.88% and 1.28%, respectively. Finance House’s stock hiked 12.5% at close, after initial losses in early trading. Abu Dhabi Commercial Bank also rose 1.23%, pushing up the …
( read original story …)
Abu Dhabi Ports Launches Sustainability Week
Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the emirate of Abu Dhabi, as well as Fujairah Terminals and Khalifa Industrial Zone Abu Dhabi (KIZAD), today launched Sustainability Week. The 3-day event …
( read original story …)
Dubai’s Mashreq posts 12% rise in net profit
Mashreq’s CEO, AbdulAziz Al Ghurair, said: “It has been a period of muted growth for the UAE banking system with the banking sector gross credit growing by only 0.3 percent as of August. However at Mashreq we have been successful in increasing our loan …
( read original story …)
Second food bank site opens in Dubai
Labourers queued up to collect food packages which were being distributed at the launch of the second food bank site in Dubai on Monday, which is also World Food Day. More than 1,000 construction workers, cleaning and maintenance staff stood in lines for …
( read original story …)
Dubai Islamic Bank : UAE banks set for resilient third quarter results
Dubai: The UAE banking sector performance is expected to be resilient in the third quarter of this year despite a slowdown in economic growth resulting in modest balance sheet growth across the banking sector. Analysts expect no major surprises except the …
( read original story …)
Dubai Islamic Bank : assets cross AED200 bn
Dubai Islamic Bank, the largest Islamic bank in the UAE by total assets, on Wednesday reported a 10 percent rise in nine-month net profit to AED3.3 billion ($900 million) compared to the same period in 2016. Total income increased to AED7.5 billion for the …
( read original story …)
Dubai wages war against food waste on World Food Day
you should make a conscious effort to reduce food waste in Dubai and UAE,” he told Gulf News. From better stock management, food transport and storage solutions to reducing portion sizes and communicating effectively to identify expectations of consumers …
( read original story …)
ADMCC monitors Abu Dhabi with Cisco technology
The Abu Dhabi Monitoring and Control Centre (ADMCC) will use Cisco’s technology to support the surveillance system that helps protect the city of Abu Dhabi. By submitting your personal information, you agree that TechTarget and its partners may contact …
( read original story …)