2018 is off to a strong start with UAE markets spiking off lows during the shortened three-day trading week due to the New Year’s holiday. Oil was supportive of bullish investor sentiment and completed the week strong for the third week in a row.
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Dubai SME receives 456 entries from 10th Mohammed bin Rashid Award for Young Business Leaders
Dubai: Dubai SME, the agency of Dubai Economy mandated to develop the small and medium enterprise (SME) sector, announced on Saturday that it has received 456 entries for the 10th Mohammad Bin Rashid Award for Young Business Leaders. Of those, 251 are from …
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Bombardier to showcase Global 7000 business jet in Dubai
January 4, 2018: Bombardier along with Dubai’s Jetex Private Terminal will be hosting a mockup of the Global 7000 aircraft between January 8 and 31. According to reports, the full-size mock-up will make its debut in the Middle East to showcase the aircraft …
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Abu Dhabi Ports looks to the East for growth
Abu Dhabi Ports and COSCO Shipping Ports Limited (CSP … “There are two types of port, transhipment ports and gateway ports,” he said during a news conference. “COSCO will use Port Khalifa as a transhipment hub, and possibly as a gateway port …
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UAE’s auto dealers find ways to ease the VAT burden
DUBAI: Ease the VAT (value-added tax … So the challenge for dealerships, especially those in the volume business, is to remove the VAT concern. Which is why Al-Futtaim Motors in its first 2018 campaign states emphatically that “our prices are locked …
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UAE jewellers absorb VAT on diamond jewellery
Dubai: Putting off your diamond jewellery purchase because of value-added tax (VAT)? Don’t, as more of UAE’s jewellers are willing to absorb the VAT component on diamonds. Jewellery retailers are doing everything in their power to ensure that the …
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UAE, Saudi Arabia’s non-oil economies end 2017 on a high note
The non-oil private sectors of Saudi Arabia and the UAE, the Arab world’s largest economies, ended 2017 on a high note with business conditions improving at the sharpest pace in 34 months in the UAE, according to the latest Purchasing Managers’ Index …
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Dubai Airport saw 5.6% growth in passenger traffic in Nov
Dubai International (DXB) attracted close to seven million passengers in November 2017 compared to 6.6 million a year ago, registering an increase of 5.6 per cent. According to the monthly traffic report issued by operator Dubai Airports, passenger numbers …
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UAE salaries: VAT set to eat into pay rises, new report says
“Employers in Saudi and UAE are bracing for a challenging time as they battle with managing business costs and meeting the expectations of disgruntled employees,” the HR consultancy said. Businesses and employees are preparing for additional complexities …
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UAE private sector turns in a solid December performance
Dubai: There was quite a bit of end-of-the-year cheer for UAE’s economy, with business conditions for the “private sector improving at its best pace” in 34 months during December. New orders and output gains were helped by higher export orders …
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UAE non-oil private sector growth hits 34-month high
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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