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
$661m plot of land among weeklong real estate deals in Dubai
The emirate recorded a total of 3,785 real estate transactions worth AED 16.6bn ($4.51 billion) during the week ending 22...Business
UAE to invest billions of pounds in UK
The UAE has vowed to invest £10 billion ($13.8bn) in the UK over five years as Abu Dhabi Crown Prince...The focus of investment will be on the UK's technology, infrastructure and energy transition sectors
Mubadala's investment plans is likely to 'drive a significant increase' across the three target sectors
Dubai-France trade reaches AED8.5 billion in the first half of 2021
DUBAI: The emirate of Dubai sees tourism and exhibition activity returning to normal, with EXPO 2020 around the corner, according...The emirate sees tourism and exhibition activity returning to normal, with EXPO 2020 around the corner, according to DP World chairman.
Top commodities included jewelry, perfumes, medical products, textiles and leather.
ADQ to acquire pharma firm
ADQ will acquire Swiss firm Acino from its current shareholders.Switzerland-based Acino is known as a provider of pharmaceuticals
Its markets include the Middle East, Africa, Latin America, Russia, Ukraine, and the CIS Region
Solutions by STC prices IPO at top range
The IPO order book 130 times oversubscribed during the book-building process.The company is set to raise $960m, pricing IPO at 151 riyals per share.
The individual investors tranche subscription process will commence on Sunday and ends on Tuesday.
Global economy to grow by 5.3 percent in 2021: UN
But if widening economic gaps between the developed world and the poor countries persists, only a few will enjoy the...Many developing economies are being held back by constraints on fiscal measures, lack of monetary autonomy and limited access to vaccines.
By 2025, developing countries will be $12 trillion poorer owing to the pandemic, the report said.
Most EMEA banks fret they would cease to exist unless they digitize fast
Nearly 75 percent of banks expect tech giants such as Google and Amazon to dominate the banking industry in five...The report said only 25 per cent of EMEA-based banks expect to significantly increase spending on Big Data in the next three years.
19 per cent of EMEA-based banks are focused on blockchain investment compared with 30 per cent of banks in North America.
New technology rejigs Gulf maritime sector
Real time data coupled with effective supply chain technology came in handy for the industry after the aviation sector was...The GCC countries have been making investments in integrating supply value chains with digital platforms and upgrading their technologies to keep pace with the latest developments
Real time data coupled with effective supply chain technology came in handy for the industry after the aviation sector was grounded following the spread of COVID-19 globally
Proof of Covid-19 vaccination, PCR test needed to enter Expo Dubai
Expo 2020 visitors will need a coronavirus vaccination or a negative PCR test to enter, organisers in Dubai has said....PCR tests will be free for ticket-holders with a 'network' of testing centres available across the city
The Expo site will have mandatory masks, two-metre social distancing rules and sanitisation stations
UAE’s Elkaso raises $2.1m in pre-seed round
Elkaso, the United Arab Emirates-based company, has raised $2.1 million in a pre-seed round, with Global Founders Capital leading the...UAE-based business-to-business marketplace Elkaso has raised $2.1 million in a pre-seed round
The capital injection will be used to expand Elkaso’s team
Blackstone looks to buyout Dubai-based VFS Global for $1.2bn
Blackstone, the US-based alternative investment management company, is in discussion with VFS Global, the Dubai-based visa outsourcing company, to buy...The due diligence process for the acquisition is complete
VFS Global is a spinoff of Swiss travel group Kuoni. It is 90 percent owned by Swedish private equity firm EQT and 10 percent by the Kuoni Foundation