Dubai: Annual inflation in the UAE dropped to 1.3 per cent in November from 1.6 per cent in October, because of a weak housing market, figures from the statistics agency showed on Thursday. Housing and utility costs fell 5.3 per cent from a year ago in November. Food and beverage prices rose 1.8 per cent […]
A Tokyo court rejected an appeal from prosecutors who had sought to extend Carlos Ghosn’s jail detention, bolstering the chances for the former Nissan Motor Co. chairman to receive bail and to fight allegations of under-reporting of his income. The court earlier ruled to dismiss keeping Ghosn in custody for a further 10 days as […]
NEW DELHI: India’s government will likely renew its demand for Rs131.40 billion (Dh6.91 billion, $1.9 billion) in additional dividend from the central bank helmed by newly-appointed governor Shaktikanta Das, two sources in the government told Reuters. The government believes the amount has been pending since 2016-17, when the Reserve Bank of India used an internal […]
In our last episode of the year, we discuss the biggest, most bizarre, most surprising stories of 2018. Oh, what a year this has been! From the chaos of Brexit to the plain silly of Elon Musk’s tweets, we nominate our picks for the year’s silliest, biggest, top non-business, least surprising, most surprising stories, and […]
Saudi Arabia intends to issue around 120 billion riyals ($32 billion) of bonds next year to help finance its deficit, with plans to tap international markets in the first half, Finance Minister Mohammed Al-Jadaan said. The kingdom is considering international bonds in dollars and other currencies, Al-Jadaan told Bloomberg TV in Riyadh on Wednesday. The […]
Abu Dhabi: Adnoc Distribution has opened its first service station in Dubai located at Dubai Investment Park, according to an announcement on Monday. Commenting on the station opening, Adnoc Distribution Acting Chief Executive Officer Saeed Al Rashdi said: “We are extremely pleased to have opened in Dubai and to be serving customers in all of […]
General Motors faces a “sharp and continued drop in profit” from its GM China joint venture in 2019 and beyond and might consider spinning off the JV, Morgan Stanley analyst Adam Jonas said in a note. The strategic and financial options available to an automaker like GM in China “likely shrinks as profitability of the […]
Due to its multimodal connectivity and outward-looking vision, the UAE has evolved into the undisputed logistics hub of the region, resulting in steady economic growth. KIZAD, the integrated trade, logistics, industrial free zone of Abu Dhabi, is driving this economic growth by developing an ecosystem with best-in-class connectivity and efficiencies. KIZAD’s combination of quality soft […]
What a year for both UAE based-businesses and the Federal Tax Authority (FTA). It began, hearts in mouths, with the opening of business on 1 January 2018. Have we correctly applied VAT to our sales, will our systems generate compliant tax invoices for customers, will our goods clear Customs without delays — all these were […]
Dubai: DP World, the Dubai-based ports operator, says it welcomes the statement made by US National Security Adviser John Bolton criticising the government of Djibouti’s autocratic actions earlier this year in illegally expropriating the Doraleh Container Terminal. The comments were made in a speech by Bolton at the Heritage Foundation on December 13, where he […]