On May 12, four commercial ships were subjected to “sabotage operations” near UAE territorial waters.
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Beijing: China’s factory output and consumer spending weakened in April as a tariff war with Washington intensified, adding to pressure on Beijing to shore up shaky economic growth. Wednesday’s unexpectedly weak data prompted suggestions Beijing will needs to boost stimulus spending and bank lending to hit this year’s official economic growth target of 6 per […]
Dubai: Majid Al Futtaim, the retail and real estate giant, launched the Middle East’s first corporate green Sukuk Wednesday morning, listed on the Nasdaq stock exchange in Dubai and valued at $600 million (Dh2.20 billion). A Sukuk is similar to a Sharia-compliant bond. Alain Bejjani, the company’s chief executive, rang the opening bell at 10am […]
Abu Dhabi: The UAE marked 500 days of implementation of value added tax (VAT) in the country with very high rate of tax compliance. “The rates of compliance with tax laws and procedures have increased exponentially among all taxable businesses,” said Khalid Ali Al Bustani, Director General of the Federal Tax Authority (FTA). VAT went […]
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Dubai continues to consolidate its role as the region’s entertainment centre, with Dubai-based TV streaming start-up specialist StarzPlay topping 1 million subscribers across its 20 country footprint. With subscription video on-demand (SVOD) revenues in the MENA region predicted to reach US$2.1 billion by 2024, Dubai is primed to become the star in both the region’s […]
On May 12, four commercial ships were subjected to “sabotage operations” near UAE territorial waters.
Family sources said the boy contracted a bout of severe food poisoning after consuming pani puri.
Dubai: Arabtec Holding, the Dubai-listed construction firm, reported on Wednesday a 50 per cent plunge in its profits for the first quarter of this year as revenues fell and general expenses rose. The company also announced that its CEO, Hamish Tyrwhitt, has stepped down from his position, and will be replaced temporarily by chief financial […]
Dubai: Following years of turmoil, the shareholders of embattled retailer Marka voted on Wednesday morning to liquidate the business, after a last ditch attempt at turning the company’s finances around failed. Around 90 per cent of shareholders in attendance voted to file for bankruptcy, according to Khalid Bin Kalban, chairman of board. The company, which […]
WASHINGTON: US industrial production fell in April, dragged by a big drop in factory output as production of autos and auto parts continued to slide. Industrial output — reflecting total production at factories, utilities and mines — dropped 0.5 per cent in April after a 0.2 per cent March gain, the Federal Reserve reported Wednesday. […]