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 …
Egypt keen to develop economic, investment cooperation with UAE: Egyptian Minister of Finance
Dr Mohamed Maait Minister of Finance of Egypt reaffirmed the Egyptian government keenness to continue developing cooperation ties with the UAE es …
UAE Banks Federation Organises Awareness Seminar On Corporate Tax0
Mr. Jamal Saleh, Director General of UAE Banks Federation, said:“Organising this awareness seminar with the participation of banking sector leaders is part of UAE Banks Federation’s initiatives under …
MoF says OECD’s rating of Free Zone Corporate Tax regime will enhance UAE’s global competitiveness
The UAE Ministry of Finance (MoF) said the latest review by the Organisation for Economic Co-operation and Development (OECD) on preferential tax regimes has officially recognised the United Arab …
UAE’s MoF to promote financial empowerment and sustainability
The UAE Ministry of Finance announced on Friday that it will participate in the World Governments Summit (WGS) 2024, under the theme “Shaping Future Governments”, from Feb.12-14 in Dubai.
UAE to open Treasury Bonds to individual investors: A safer way to grow your money
In the UAE, the Ministry of Finance issues treasury bonds every six weeks, in collaboration with the UAE Central Bank. The UAE Central Bank also defines purchasing T-Bonds as, “lending the federal …
UAE plans to issue treasury bonds to individuals
The move aims to diversify investment opportunities in the UAE market The primary aim behind the issuance of treasury bonds is to introduce fresh investment instruments in the market, catering to both …