The Dubai Bank’s purchasing managers’ index, produced by IHS Markit, showed business conditions improving at the sharpest pace since February 2015 with steep expansion in output and new orders and strong export demand growth. This meant the headline …
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Trade, Tourism Main Drivers of UAE’s Growth Over Next 5 Years: Analysts
Mathew said the UAE has been known for its tax-free status and a move towards introducing tax may need a significant overhaul of how the business operates in the region especially for the unorganised SME sector. “SMEs are going to face challenges …
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Nakheel awards $105m deal to build all-inclusive Dubai resort
Deira Islands, which is expected to have a population of 250,000 and to create 80,000 jobs, will add 40km of coastline to Dubai. Subscribe to Arabian Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC …
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Dubai Duty Free has record sales in 2017, reversing a two-year decline
The gain in 2017 reversed two years of decline in sales at Dubai Duty Free. “We are pleased to announce such a positive year with 2017 marking our thirty-fourth year in business,” said Colm McLoughlin, executive vice chairman and chief executive officer of …
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Dubai Duty Free annual sales rose 5.6% to Dh7.05b
Executive Vice-Chairman and CEO Colm McLoughlin said in a statement: “We are pleased to announce such a positive year with 2017 marking our 34th year of business. The entire team at Dubai Duty Free has worked hard to provide passengers with a first class …
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Dubai Metro section to close for 18 months
Dubai’s Roads and Transport Authority has announced the closure of a section of the city’s metro until the middle of next year to allow construction work to take place. The authority previously closed the Red Line between Jumeirah Lake Towers (JLT …
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Dubai’s Nakheel awards $105m contract for RIU resort
Dubai developer Nakheel and Spain’s RIU Hotels and Resorts have awarded a Dhs385m ($104.8m) construction contract for their upcoming beachfront resort and water park on Deira islands. The project, comprising an 800-room mid-scale beachfront resort and …
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Dubai Duty Free returns to sales growth in 2017
“We are pleased to announce such a positive year with 2017 marking our 34th year of business,” said executive vice chairman and CEO Colm McLoughlin. “The entire team at Dubai Duty Free has worked hard to provide passengers with a first class shopping …
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Some gold shops in Dubai absorb 5% VAT
Dubai: Effective January 1 this year, buyers of gold and diamond jewellery in the UAE are supposed to pay a 5 per cent value-added tax (VAT), but it looks like some of them won’t have to pay for the extra charge. A few retailers in the country have …
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UAE’s ad industry must see off another difficult year
“Any marcom firm in the UAE that is able to offer a combined set of services … “If you do the numbers, everybody believes you know your business. And if you don’t, everybody thinks they know your business better than you do.
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Pictures: Google co-founder Brin visits Dubai
The co-founder of internet giant Google has been pictured in Dubai by the emirate’s media office. Sergey Brin, who is president of Google’s parent company Alphabet Inc, was shown speaking to Dubai Crown Prince His Highness Sheikh Hamdan bin Mohammed …
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UAE’s oyster farming business thrives on ‘eat local’ movement
When Ramie Murray set out to start a business in the field of aquaculture a few years ago, his plan was to farm rock lobsters. He also threw a few oyster spats, or baby oysters, into the mix, just to see how they would do. As it turned out, the hatchery …
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Saudi Arabia and United Arab Emirates introduce VAT for first time
But governments want to increase revenue in the face of lower oil prices. The tax kicked in on 1 January in both countries. The UAE estimates that in the first year, VAT income will be around 12 billion dirhams (£2.4bn; $3.3bn). Petrol and diesel …
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New era in UAE as VAT takes effect
The UAE along with Saudi Arabia has taken the pioneering step … impact on the economic growth and inflationary pressures. As for business that are integrating VAT into their invoicing, accounting and auditing systems, it is likely to come with some …
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Abu Dhabi courts issue landmark verdicts
Ateqa Al Khateri, director of Family Prosecution of Abu Dhabi Judicial Department, told Gulf News, “Women officers are particularly required in most of the specialised cases pertaining to women and children.”
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Dubai-based private equity business launches $250m health care fund
Dubai: TVM Capital Healthcare Partners, a Dubai-based private equity business, has launched a $250 million fund to invest in areas ranging from cancer to pharmaceuticals in markets including the Gulf, Turkey, Egypt, India and Singapore, a senior executive …
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Dubai-based PE business launches $250 m healthcare fund
TVM Capital Healthcare Partners, a Dubai-based private equity business, has launched a $250 million fund to invest in areas ranging from cancer to pharmaceuticals in markets including the Gulf, Turkey, Egypt, India and Singapore, a senior executive told …
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