ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...Business Economy Energy Climate Change
FTA issues guide to determine natural persons subject to corporate tax
ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...Business Economy Geostrategy
Foreigners in Kuwait on commercial visit to get work permit now
The move is aimed at meeting growing demand for manpower by companies in the country. After all, the number of...Thousands of expats left Kuwait this year and have been unable to return due to the pandemic
This move is expected to offset that talent drain and attract more such talent into the country
Evergrande’s crash crunch stumps investors and homeowners alike
The once-mighty Evergrande Group has long been the face of Chinese real estate, surfing a decades-long property boom to expand...The once-mighty Evergrande Group has long been the face of Chinese real estate, surfing a decades-long property boom to expand into more than 280 Chinese cities
But it is now smothered by a $300 billion liabilities burden that has crushed its credit rating, share prices
Kuwait starts 100,000 bpd oil-gathering center
Kuwait is one of five countries that negotiated a higher baseline for its quota in a July 18 OPEC+ meeting.A gathering center is a facility that collects oil from a field to be transferred usually by pipelines
This gathering center is formally referred to as GC-31 and is located in in northern Kuwait
Amazon to hire 1,500 people in UAE as it expands business
Amazon, the US e-commerce giant, has announced that it would add 1,500 jobs in the United Arab Emirates to cope...The jobs, according to the company, will be created as it expands its fulfillment center storage capacity by 60 percent
This expansion is expected to create additional jobs through its sellers and delivery partners
Oman tax authority to fine VAT non-filers
Those who have not filed VAT returns would see a fine of up to OMR5,000 (around $13,000) imposed on them.The standard rate of VAT in Oman is 5 percent
It is among the lowest in the world
Top Saudi banks see increase in deposits and financing in Q2
Top Saudi banks have seen strong growth in the second quarter of the current fiscal in financing and deposits. According...The outlook for cost of risk remains relatively stable, says Alvarez & Marsal
L&A and deposit growth was supported by the merger of NCB and SAMBA to form Saudi National Bank
ESG wins $12.5m contract for upkeep of Abu Dhabi’s Corniche Road
Emirates Stallions Group, a subsidiary of the International Holding Company (IHC,) has secured a $12.5 million contract from the Abu...Landscaping contract is one of largest public municipality projects of its type
ESG has presence in 20 markets in the region, with assets of 537 million dirhams as of the end of the first quarter this year
Dragon Oil to double output by 2026
Dragon Oil to double output by 2026The company is eying new developments in Turkmenistan, Iraq, and Egypt
It achieved a positive performance in 2020, and continued to maintain steady annual growth in 2021
Imdaad signs three contracts in a month
The total value of the contracts signed with several UAE clients is AED90 million.Several UAE-based clients have awarded contracts in retail, sports and real-estate sectors.
Imdaad was hired by the Dubai World Trade Centre for Total Facilities Management services at Expo Village.
UAE has advantage in leading global hydrogen market: Report
DUBAI: The UAE has the foundations and competitive advantages to become one of the largest producers of low-carbon hydrogen in...UAE’s strong infrastructure, export facilities, geographic location key advantages.
ADNOC is already a producer of over 300,000 tons per year of hydrogen in its downstream facilities.