ADGM forms strategic cooperation with Hainan Provincial Government

ABU DHABI. The Abu Dhabi Global Market, ADGM, and the Hainan Provincial Government have announced the signing of a Memorandum of Understanding to further boost the economic and financial collaboration between China and the UAE via Hainan Free Trade Zone and ADGM’s international financial centre and financial free zone. The signing took place on the […]

AMF calls for more tax income in Arab nations

Dubai: The Arab Monetary Fund (AMF) called on Sunday for further economic reforms in the Arab world, including cutting energy subsidies and boosting tax revenues. Abdul Rahman Al Hamidy, director general of the Arab Monetary Fund, stressed the importance of economic diversification, saying it was among the most important reforms being implemented by Arab governments. […]

Ducab sees sales rise to Dh4.8 billion

Dubai. Ducab, otherwise known as Dubai Cables, has announced that its group sales rose to Dh4.8 billion, an increase of approximately seven per cent year-on-year. Its wires, cables and metals businesses all saw positive year-on-year sales growth in 2018. The newly established Ducab Aluminium Company (DAC) performed well during its first full year of operations, […]

Uniqlo, Primark, all the other brands still missing from Dubai

Dubai: In 2015, Apple started selling their glossy mobile phones and laptops in Dubai, after many years of conspicuous absence. Two years later, Tesla opened its first showroom in Dubai. Two of the world’s most visible brands had finally set up retail operations in the emirate, closing a chapter in Dubai’s ongoing quest to fill […]

Economy is on positive track to deliver UAE Vision 2021: Al Mansouri

DUBAI: The UAE gross domestic product, GDP, grew by 1.7 per cent in 2018 at constant prices of 2018 as compared to 2017, said Sultan bin Saeed Al Mansouri, Minister of Economy, citing preliminary macro-economy indexes issued by the Federal Competitiveness and Statistics Authority, FCSA, for last year. Al Mansouri noted that the improvement in […]

UAE may include new products on excise tax list

Dubai: The UAE is currently studying its options to include new products on the list of excise tax, after implementing the tax on three categories in October 2017. The country’s Ministry of Finance said in a statement on Sunday it is conducting a joint technical study with officials in Saudi Arabia “on the addition of […]

Facebook’s Mark Zuckerberg calls for tougher regulation of internet

Facebook Inc. chief executive officer Mark Zuckerberg called for new global regulations governing the internet on Saturday, recommending overarching rules on hateful and violent content, election integrity, privacy and data portability. In a statement that was also published as an op-ed in the Washington Post, Zuckerberg said the company is seeking regulations that would set […]