UK Export Finance (UKEF), the UK’s export credit agency, is to provide support of more than £100 million ($135.2 million) for the construction of the fourth phase of the Dubai World Trade Centre. Phase four will see the construction of an onsite hotel and …
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UAE Ministry of Finance Organizes a Workshop on the Launch of the Automated Reconciliation System
As part of its ongoing efforts to provide the best integrated solutions that improve the levels of financial management systems, the Ministry of Finance (MoF) organised a workshop today on the launch of its automated reconciliation system specific to …
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Dubai Properties Says ‘1/JBR’ on Track for Completion in 2019
Dubai Properties’ flagship project 1/JBR, taking shape on one of the final plots of land in the sought-after Jumeirah Beach Residence (JBR) district, is on track for a timely handover in Q4 2019. Bearing the distinction of being the only residential …
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Growing up – why the UAE’s first vertical farm could be a regional gamechanger
Badia Farm grows greens in a controlled, indoors environment using hydroponic technology and LED lights. By Rabiya Jaffery ABU DHABI, May 10 (Thomson Reuters Foundation) – When people picture the United Arab Emirates, what likely comes to mind are desert …
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Why switch your offshore company to the UAE?
Doing business: The UAE regularly ranks highly on the World Bank’s Doing Business Index, which measures countries against 11 key indicators of business regulation to establish the ease with which it is possible to form and run a company. In 2018 it was …
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Dubai Launches Blockchain Business Registry To Ease Market Entry
Businesses looking to launch in Dubai will benefit from a blockchain registry, a joint project between the government and partners including IBM. The Dubai Blockchain Business Registry Project will also see involvement from Smart Dubai and Dubai Silicon …
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Egypt Property Show nets $110m sales
The Egypt Property Show ended on a successful note in Dubai, registering a sharp jump in property sales which soared to $110 million, more than 100 per cent over last year’s returns. The event, inaugurated by Egypt Ambassador to the UAE, Wael Gad and …
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IMF says UAE’s VAT introduction has gone well, impact short-lived
Tamirisa said property market weakness was having a significant economic impact and authorities needed to monitor this carefully. Average rents sank 10.2 per cent in Abu Dhabi in 2017 and 5.2 per cent in Dubai, according to the central bank. Read …
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Dates set for new Dubai Islamic Bank rights issue
Dubai Financial Market (DFM) has announced that the rights issue of Dubai Islamic Bank is due to trade on the exchange between May 16-30 May as the bank embarks on a capital increase. Trading of the rights issue enables existing shareholders of the bank …
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FAB Named Best Investment Bank in the UAE for the Second Year in a Row
First Abu Dhabi Bank (FAB), the UAE’s largest bank, and one of the world’s largest and safest financial institutions, has been named ‘Best Investment Bank in the UAE’ at the prestigious Euromoney Awards for Excellence 2018. FAB’s Head of Global …
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Mashreq Bank to offer commercial borrowings in Indian Rupees
The UAE’s Mashreq Bank has announced it will enter India’s non-bank financial institution (NBFI) sector through by offering external commercial borrowings in Indian Rupees through an engagement with IL&FS Financial Services Ltd. Through the IL&FS Group …
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Abu Dhabi Oil Giant Hires Cutis as CFO From Wealth Fund
Abu Dhabi National Oil Co. hired Mark Cutis as chief financial officer from the sovereign fund that combined with Mubadala Investment Co., according to people with knowledge of the matter. Cutis will report to Adnoc’s director of finance and investment …
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UAE University ranked among top 50 universities
Al Ain: The UAE University has been ranked the 50th best university in the Times Higher Education’s 2018 list of Emerging Economies University Rankings. Dr Mohammad Al Baili, Vice-Chancellor of the UAE University, stressed the significance of this …
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UAE’s VAT Move Has Gone Well, Inflation to Moderate: IMF Official
DUBAI (Reuters) – The United Arab Emirates’ introduction of value-added tax has gone smoothly and inflation, having jumped in response, will moderate, the head of the International Monetary Fund’s mission to the country said on Thursday. Natalia Tamirisa …
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Diamantaires upbeat as UAE scraps VAT on gold, diamonds
Diamond analyst Aniruddha Lidbide said, “VAT in the UAE was imposed just recently and it had a huge cost implications on loose diamonds. Now that the UAE has scrapped the VAT, it is a good news for the entire diamond value chain.”
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Careem launches new motorcycle pickup service in Dubai Marina
It has now been announced that Dubai taxis will feature interactive LCD screens, as well as free Wi-Fi starting December (just make sure you get into the right colour cab).
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Revealed: Top Indian business leaders in Arab world
Dubai: Over 100 Indian nationals, mainly businessmen and executives that are based in the UAE, have just been recognised for their “phenomenal success” in the Arab world. These expatriates are among the top 100 business owners and 50 Indian executives …
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