Nonetheless, we witnessed more than average footfall during the first few hours as compared to the regular weekend morning crowd,” Ajay Antal, CEO of Home Box, told Gulf News. By Thursday evening, traffic snarls were reported near major malls in Dubai as …
( read original story …)
UAE extends military reach in Yemen and Somalia
ABU DHABI (Reuters) – Military transport planes from the United Arab Emirates landed on the sleepy Yemeni island of Socotra last week, unloading tanks and troops as part of the Gulf Arab state’s drive to extend its influence over a strategic waterway …
( read original story …)
UAE-based cricket coach suspended over spot fixing offer
Subscribe to Arabian Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
( read original story …)
UAE man wins court appeal after claiming rape victim was his ‘wife’
A police officer in the UAE was convicted on charges of rape, but justified the vile incident by saying the woman is his wife. In a recent court hearing, the 28-year-old man’s prison sentence was suspended. “My client took his family with him and proposed …
( read original story …)
NYU labor compliance in Abu Dhabi comes into question
NEW YORK (AP) — A report issued Thursday by a group of New York University students and faculty members is taking the university to task for labor practices connected to its campus in Abu Dhabi, saying that workers employed there still face risk of …
( read original story …)
Abu Dhabi hedges against oil price risk
DUBAI: Behind the 65-story glass tower that houses the shiny new headquarters of Abu Dhabi National Oil Co (Adnoc) sits a remnant of the Middle Eastern emirate’s not-so distant past: the squat, sand-coloured building that the government-owned energy …
( read original story …)
Dubai, Abu Dhabi Non-Oil GDP to Grow on State Spending, IMF Says
Dubai’s economy expanded 2.8% in 2017 Abu Dhabi’s non-oil GDP grew 1.8% in 2017 Abu Dhabi’s non-oil GDP is set to advance 3.3% in 2019 vs 2.5% this year
( read original story …)
U.S., UAE crack down on network for smuggling funds to elite Iran group
The Treasury Department, acting with the United Arab Emirates where front companies were located, said it had disrupted the large network’s operations, and accused Iran’s central bank of helping the group access U.S. dollars held in foreign banks to …
( read original story …)
UAE puts nine Iranian entities, individuals on terrorism list
The United Arab Emirates listed on Thursday nine Iranian entities and individuals on the terrorism list for transferring funds to the Iranian Revolutionary Guards. According to the statement published by WAM, the Cabinet issued Ministerial Resolution No …
( read original story …)
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 …
( read original story …)
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 …
( read original story …)
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 …
( read original story …)
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 …
( read original story …)
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 …
( read original story …)
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.”
( read original story …)
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 …
( read original story …)
Dubai’s Emirates looks at closer Etihad ties
Sheikh Ahmed said though business conditions improved they had remained tough … Parent Emirates Group will pay a Dhs2bn dividend to Investment Corporation of Dubai (ICD), the state investment vehicle which owns the airline, after profit rose 67 per …
( read original story …)