It’s been a year since the UAE rolled out the value-added tax (VAT). It was a significant move that changed the way business is done in the country. Since January 1, 2018, consumers have been paying an extra 5 per cent on most goods and services, ending an era of a completely zero-tax regime. So, […]
Dubai: More businesses who will incur fines this year will get to enjoy a hefty discount. The Commercial Compliance and Consumer Protection (CCCP) sector of the Department of Economic Development (DED) announced that a new automated facility has been put in place for traders to avail themselves of a 50 per cent reduction on commercial […]
Mexico City: President Andres Manuel Lopez Obrador launched an ambitious plan Saturday to stimulate economic activity on the Mexican side of the US-Mexico border, reinforcing his country’s commitment to manufacturing and trade despite recent US threats to close the border entirely. Mexico will slash income and corporate taxes to 20 per cent from 30 per […]
Washington, D.C.: Just as the pharmaceutical industry’s biggest conference of the year is set to get under way, President Donald Trump took to Twitter to complain that drugmakers aren’t “living up to their commitments on pricing.” Despite talk about halting increases and lowering the price on some treatments, pharmaceutical companies on January 1 returned to […]
Dubai: Khalifa Industrial Zone Abu Dhabi (Kizad) launched on Sunday a Polymers Park, which is planned to be a manufacturing base for the downstream plastics industry. The Park is expected to attract $1.5 billion in foreign direct investment over the next four to five years. Located in Abu Dhabi, the Park is set to produce […]
Abu Dhabi: Geo-political developments are unlikely to moderate the economic growth of the UAE, a trend in line with IMF projections of growth in the country in 2018 and 2019, a senior official has said. Juma Mohammad Al Kait, assistant under-secretary for Foreign Trade Affairs at the Ministry of Economy said the “positive outlook for […]
Tokyo: Japan will consider countermeasures to protect Nippon Steel & Sumitomo Metal Corp. assets from seizure in South Korea sought in response to a wartime forced-labour complaint, Prime Minister Shinzo Abe said. It’s “very regrettable that former workers from the Korean Peninsula are taking action for seizing the assets,” Abe told national broadcaster NHK’s “Sunday […]
The pledge comes a day after Sheikh Mohammed shared his 8-point mantra of governance.
The pledge comes a day after Sheikh Mohammed shared his 8-point mantra of governance.
Dubai’s Torch Tower experiences third fire in as many years