According to Al Mal Capital, the issuance will deliver a maximum of 400 million new units to existing unitholders at a price of AED1.1 per share – increasing the share capital by 114% to AED750 …
UAE Signs Agreements With Arab Countries On Double Taxation Avoidance
The UAE Ministry of Finance signed agreements related to the encouragement and protection of investments and double taxation avoidance, with Kuwait …
UAE signs agreements with Arab countries on encouragement and protection of investments, and double taxation avoidance
The UAE, represented by the UAE Ministry of Finance, signed agreements related to the encouragement and protection of investments and double taxation avoidance, with each of the State of Kuwait, the …
President of International for Bank of America hails ‘dynamism’ of UAE economy
Bernard Mensah, President of International for Bank of America, has commended the flexibility, dynamism, and strong growth of the UAE economy despite global challenges.
UAE has no plans to introduce income tax, raise VAT in 2024 – finance ministry official
The OECD recently posted their assessment of preferential tax regimes, and rated UAE’s corporate tax regime for free zones as ‘not harmful’ …
UAE exchange houses receive approval to raise remittance fees by 15% for first time in 5 years
This marks the first fee adjustment in five years, the decision recognises the evolving regulatory landscape and related cost increases since the previous update …
UAE’s entities to provide up to $100 million in financing to BGN
The strategic collaboration sets the stage for a financing arrangement, offering up to $100 million to facilitate the export of energy commodities from the UAE. The syndicated financing arrangement, a …
Empower revenue soars to $824m in 2023; net profit up
For the year 2023, its pro forma net profit grew by 6.1% to AED1,083 million. This pro forma net profit comparison adjusts for pre IPO leverage to show comparable performance. On an absolute basis, …
UAE launches technology fund for developing nations
The United Arab Emirates on Monday launched a fund to finance the development of sophisticated technology in developing nations. The fund was launched with capital of $200 million, financed by the Abu …
UAE clarifies laws on pensions, gratuity and debts
The UAE has clarified rules on debt repayments in regards to pensions and gratuity. The General Pension and Social Security Authority (GPSSA) has issued a circular to government and private sector …
Dubai Empower’s FY 2023 net profit slips to $259mln; beats estimate
Dubai’s Emirates Central Cooling Systems Corporation, also known as Empower, reported full year 2023 net profit attributable to equity holders of 953 million dirhams ($259 million), versus AED 1 …
UAE, Kuwait ink pact on avoiding double taxation
The agreement is part of the process of economic and financial integration and the free movement of capital between the two countries …
UAE businessman BR Shetty travel ban lifted as Indian court issues new notice
The Karnataka High Court also allowed Shetty to go abroad, if no other restriction exists for his travel abroad other than these LOCs …
UAE: Employees brave heavy rain and traffic, get soaked on way to work
While authorities have urged private companies to , some employees reported to offices on Monday morning despite the inclement weather. “I’m actually an hour late to work, and I was considering …
Emirates NBD reveals criteria for SMEs to participate in first phase of AED500mln ‘Dubai International Growth Initiative’
Joint steering committee, comprising representatives from the Government of Dubai and Emirates NBD, will be responsible for guiding the initiative …
Minister Of Finance Signs Agreement With UAE To Avoid Double Taxation, Prevent Income Tax Evasion
Mohamed Maait, the Minister of Finance, signed the supplementary agreement for the Protocol to Avoid Double Taxation and Prevent Income T …
Mohammed bin Rashid meets with Arab Ministers of Finance participating in Arab Fiscal Forum
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, met with Arab Ministers of Finance taking part in the Arab Fiscal Forum held today on Day 0 of …