FTA implements penalties for tobacco tax violations

Abu Dhabi: The Federal Tax Authority on Saturday said it will begin implementing penalties for violations of the “Marking Tobacco and Tobacco Products Scheme,” which calls for digital tax stamps to be applied to the packaging of tobacco goods before supplying them to local markets. The Authority said penalties are meant to curb attempts at […]

Two restaurants, one coffee shop open daily in Dubai, says DED

DUBAI: The total number of operational restaurants and cafes in the emirate of Dubai has reached 427 during the first four months of 2019, according to the Business Registration and Licensing (BRL) sector in the Department of Economic Development, DED, Dubai. This includes 258 restaurants and 169 coffee shops, a growth of 25 per cent […]

Nasdaq withdraws offer to acquire Oslo stock exchange

Oslo: US stock market operator Nasdaq said Monday it was withdrawing its offer to acquire the Oslo Stock Exchange, clearing the way for its European competitor Euronext. “This decision has been made because under the current circumstances the minimum acceptance condition for completion of the offer is incapable of being satisfied,” the company said in a […]

A Renault deal with Fiat Chrysler is old school in tech-obsesses times

Dubai: Another merger in the global auto industry? Seems so like something from the last decade. At a time when car manufacturers have been busy picking up hot-shot tech startups — or at least enter into alliances with them before anyone else did — Renault’s decision to seek a merger with FCA (Fiat Chrysler Automobiles) […]