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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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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