WTO ban on tariffs for digital trade extended until June 2020

Geneva: World Trade Organisation (WTO) members agreed on Tuesday to renew a 20-year moratorium on placing tariffs on digital trade for six months, allaying fears that people would have to pay duties on e-books and software for the first time. “Members agree to maintain the current practice of not imposing customs duties on electronic transmissions […]

EU extends Russia’s economic sanctions by six months

Brussels: European Union leaders on Thursday extended punishing economic sanctions against Russia over the conflict in Ukraine for another six months, senior EU officials said. The move comes days after a four-way summit in Paris between Ukraine, Russia, France and Germany failed to yield a major breakthrough in solving the five-year conflict. The sanctions, which […]

UAE Economic Forum highlights need for collaborative efforts

Dubai: The UAE Economic Forum 2019, a collaborative initiative between the Ministry of Economy and the economic departments in the seven emirates in the UAE, sought to coordinate the economic growth initiatives across the country. Organised under the theme ‘The UAE Enterprising Economy: Resilience, Growth & Prosperity,’ the Forum was attended by policymakers and private […]

Aramco investors should book profits now

Singapore (Bloomberg): Saudi Aramco investors should take profit now after shares in the world’s biggest company jumped 10 per cent in their first day of trading, analysts at Sanford C. Bernstein & Co. recommended in a note to clients. A low dividend yield, the political risk of the government still running the company, and a […]

Small and medium enterprises account for 99.2% of businesses in Dubai

Dubai: Small and medium enterprises (SMEs) contribute nearly 50 per cent of Dubai’s gross domestic product while it accounts for 52 per cent of the total workforce in the emirate, according to the State of Small and Medium Enterprises (SMEs) in Dubai 2019, a report by Dubai SME, an agency of Dubai Economy. The report […]