Asia markets mixed as investors assess China inflation data
Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reported China’s consumer price index climbed...
Economy
Dubai’s media revamp key to navigate new horizons
"There is a need to double efforts to develop a comprehensive blueprint outlining necessary policies to drive the media sector...
Economy
Economy
UAE takes steps for smooth rollout of corporate tax
The Ministry of Finance calls on public to rely only on official publications for information on the tax law, while...
- The Ministry of Finance calls on public to rely only on official publications for information on the tax law, while Dubai launches an integrated training programme for awareness
- The new "Tax Agents Classification" initiative, meanwhile, aims to simplify tax compliance for taxpayers by allowing them to select a specialized Tax Agent based on their sector
Geostrategy
Leaders call for unity, peace, progress in Arab world
The Arab League Summit, which concluded on an optimistic note in Jeddah, highlighted the need for unified Arab positions and...
- The Arab League Summit, which concluded on an optimistic note in Jeddah, highlighted the need for unified Arab positions and effective strategies to confront current challenges
- Several leaders, including those from Egypt, Jordan, and the UAE, focused on issues such as national state preservation, economic cooperation, and regional stability
Geostrategy
Syria, Ukraine join as Arab League Summit kicks off
Syrian President Bashar al-Assad returns to Arab League Summit, which confronts conflicts across the Middle East and beyond, including the...
- Syrian President Bashar al-Assad returns to Arab League Summit, which confronts conflicts across the Middle East and beyond, including the war in Ukraine.
- Ukrainian President Volodymyr Zelensky meets Saudi Crown Prince Mohammed bin Salman and thanks him for backing Ukraine's sovereignty ahead of the summit
Business
OPEC-China alliance key to global oil market stability
A pragmatic framework for cooperation has been established between the two entities, fostering an ongoing exchange of views on mutual...
- OPEC Secretary-General Haitham Al Ghais emphasizes the importance of the dialogue partnership with China, with a plan to reinforce and strengthen it
- A balanced framework for cooperation between OPEC and China has been established, facilitating an ongoing exchange of views on mutual energy issues, he says
Business
9% corporate tax takes effect in UAE from June 1
The move aims to foster compliance and business activity, with special exemptions for Free Zone transactions and small enterprises.
- Individuals can now be classified as a business if their income stream surpasses a specified amount, or if their held assets exceed a certain value
- UAE employees drawing income from a singular source or salary payment need not be concerned, as salaries will continue to remain exempt from income tax
Economy
Strong non-oil sector growth to push UAE real GDP up 2.8% in 2023: WB
The Emirates' non-oil sector is projected to grow by 4.8 percent, driven by robust domestic demand, particularly in tourism, real...
- The economies of the Gulf Cooperation Council (GCC) are projected to grow by 2.5 percent in 2023 and 3.2 percent in 2024.
- A report released by the bank also said that the direct medical costs of seven major non-communicable diseases in GCC region was around $16.7 billion in 2019 alone.
Economy
Strong economy, HNWIs help GCC luxury market thrive
TRENDS explores how the growing number of high net worth individuals (HNWIs) in the GCC region is boosting demand for...
- GCC economies witness significant growth driven by robust oil production and exports
- Increased affluence in the region fuels a continuous rise in luxury product spending
Economy
Strong economy, HNWIs help GCC luxury market thrive
TRENDS explores how the growing number of high net worth individuals (HNWIs) in the GCC region is boosting demand for...
Business
Strong fraud detection boosts security of UAE banks
"The UAE is well positioned to further strengthen its leadership in combating fraud, with continued investment in technology, training and...
- The UAE's focus on digital transformation and innovation enhances fraud detection and control capabilities, says Jamal Saleh, Director General of UAE Banks Federation
- Tasharuk platform plays a crucial role in detecting cyber risks while continued investment in technology and collaboration strengthens UAE's banking system, he adds
Arts & Culture
Sheikh Khalifa: A legacy of progress and empowerment
He continued his predecessor's remarkable legacy until his own passing on May 13, 2022. Under his leadership, the UAE flourished,...
- Under Sheikh Khalifa's leadership, the UAE fortified its prominent stature and assumed a leading regional and global role by fostering deep-rooted relations with numerous countries
- To secure prosperous future, Sheikh Khalifa initiated an era of empowerment by implementing long-term national strategies, initiatives, and plans including the Principles of the 50
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Asia markets mixed as investors assess China inflation data
Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reported China’s consumer price index climbed...
Economy
Company News
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Water stress levels vary in Arab countries
Infographics
ESG and sustainability redefine UAE financial markets
"The UAE's success in establishing a fully regulated carbon market, integrating carbon regulation to manage and trade emissions effectively, providing...
Business
2023: A year of technological triumphs in the GCC
This year, the GCC region has solidified its technological leadership, with AI, blockchain, and the metaverse leading the charge in...
Economy
UNSC approves aid resolution as Gaza crisis mounts
As fighting between Israel and Hamas intensifies, the UN Security Council has passed a resolution to enhance aid to Gaza,...
Geostrategy
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Geostrategy
UAE leads humanitarian efforts in Gaza, seeks truce
"The Gulf country will continue its efforts to achieve peace through tangible steps and a roadmap for a two-state solution....
- The UAE strongly condemns Israel’s collective punishment and displacement policies.
- The country remains committed to Palestinian humanitarian aid and medical support.
Geostrategy
Kuwait, world mourn passing of Emir Sheikh Nawaf; welcome Sheikh Meshal as successor amid challenges
The Gulf country sees a seamless transition of power as Sheikh Meshal ascends to emir following the death of Sheikh...
- The Gulf country sees a seamless transition of power as Sheikh Meshal ascends to emir following the death of Sheikh Nawaf, amidst global condolences and internal challenges.
- Public offices in Kuwait will close for three days, and a 40-day mourning period is declared following Sheikh Nawaf's death, who was hospitalized in November.
YEARENDER
GCC soars in global space race with key advancements
Saudi Arabia's new Saudi Space Agency and first ISS mission, coupled with UAE's Hope Probe and lunar projects, underscore their...
- Saudi Arabia's new Saudi Space Agency and first ISS mission, coupled with UAE's Hope Probe and lunar projects, underscore their rising status in global space sector.
- Bahrain's development of its first satellite and Kuwait's CubeSat initiative underscore the Gulf region's commitment to space technology and research.