Dubai: The emirate of Dubai could be compared to a number of cities around the world, and now, its being compared to the multi-billion dollar enterprise Google. Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of the Dubai …
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Dubai property ROI still strong amid softening prices
Dubai property saw stable Returns on Investment (ROI) in 2017, but suffered lower rent and sales prices across most property types year-on-year, according to a Bayut.com report. Based on 94,000 listings hosted on Bayut.com from November 2016-November 2017 …
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Revealed: Where Dubai property rents, prices fell the most in 2017
The last 12 months have been a period of softening prices and rents across most property types in Dubai, with significant declines in some areas. In an end of year report, property site Bayut.com compiled a list of popular areas that had seen the most …
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Jafza Welcomes First Photovoltaic Solar Panel Plant
the largest and most ambitious roof-top solar energy project in the Middle East. “DP World fully supports the Shams Dubai initiative to promote the use of clean and renewable energy sources, and our Solar Programme is in line with the Dubai Integrated …
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UAE Ministry of Finance Announces the Readiness of the Federal Financial System to Implement Value Added Tax
The Ministry of Finance (MoF) has announced that the Federal Financial System has been updated and is ready to manage all financial transactions related to the value added tax (VAT). This confirms MoF’s commitment to managing and developing the …
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Real salaries in the UAE set to drop in 2018
Real wages are expected to fall in the UAE this year as inflation is set to exceed salary rises, according to the Hay Group. A forecast issued by the Hay Group division of Korn Ferry said that in the UAE, inflation of 4.6 percent combined with pay …
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UAE MoF announces readiness of Federal Financial System to implement VAT
This confirms MoF’s commitment to managing and developing the government financial systems in order to facilitate the federal entities’ transactions. All federal entities linked to the Federal Financial System are able to perform various VAT-related …
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Dubai billionaire to take on Amazon and his extreme work ethic for his staff
A DUBAI billionaire is vowing to take on Amazon with his emerging e-commerce empire — and to get to the top he has some extreme working conditions for his staff. Mohamed Alabbar, 60, a real-estate tycoon, wanted to create a viable competitor to US tech …
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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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UAE residents recount their first purchase with VAT
On the first day of its implementation, Gulf News visited shopping malls and retail outlets to gauge the impact of VAT. Mohammad Mufaris, a senior supervisor in an insurance company in Abu Dhabi, shopping at Lulu in Mushrif Mall, said “We have not …
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Meet the team that keeps Dubai clean
Dubai: Even before you wake up, the city is scrubbed clean. Dubai residents produce 9,000 tonnes of waste every day, but you would be hard-pressed to see it in public. The Dubai Municipality’s Waste Management Department is responsible for ensuring Dubai …
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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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Veteran Egyptian journalist dies in Dubai
He was 83. He was suffering from cancer and underwent surgery in Dubai, Egypt’s official Middle East News Agency (mena) reported. Born on January 12, 1934 in the Egyptian city of Suez, Nafae became the editor of Al Ahram in 1979, a post he held until 2005.
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Dubai rings in New Year with laser spectacular
Dubai (AFP) – Dubai celebrated the New Year Sunday with a spectacular midnight laser show at Burj Khalifa, the tallest tower in the world. As the clock ticked to midnight the 828-metre (2,716-foot) tower was lit up with the green, white, black and red …
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Dubai Sheikhs things up! City state emblazons face of UAE founder on world’s tallest skyscraper in spectacular laser display after CANCELLING planned fireworks due to ‘security …
Dubai’s New Year’s Eve fireworks display was abandoned this year due to ‘security concerns’, with the United Arab Emirates city opting for a world-record breaking light display on the Burj Khalifa. Two years ago, the city suffered a scare when a huge …
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Abu Dhabi celebrates New Year with fireworks and concerts
Abu Dhabi always makes very nice fireworks shows when New Year comes, so it’s very exciting and fun to watch. The shows are always different and it’s a nice experience to watch it along with my friends,” he told Gulf News. Chloé Ramamonjisoa …
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