DMCC witnesses 10 percent rise in US companies in 2023
DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in...Business Economy
GCC retail pins hope on customer loyalty programs
Retailers in the region are relying on card-linked offers, utilizing data analytics, mobile apps, and blockchain to enhance engagement and...Business
DEWA to enhance ties with foreign firms at GITEX Global 2022
MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received Consul-General of Canada to Dubai...Al Tayer emphasized DEWA’s keenness to consolidate cooperation and exchange expertise with Canadian companies.
The DEWA CEO highlighted DEWA’s key development projects and strategic initiatives, especially the technological projects.
UAE to launch new integrated ‘EmaraTax’ platform later this year
Dubai, UAE---The UAE Federal Tax Authority (FTA) has announced that the new "EmaraTax" integrated platform will be launched later this...EmaraTax will significantly enhance the way that taxpayers can access the FTA’s services, pay their taxes and obtain refund.
The new platform also greatly enhances the ability of the FTA to administer taxes in the UAE.
Villas, apartments worth $265 million sold in Dubai
Dubai, UAE--- Dubai real estate market recorded realty deals worth AED1.5 billion ($408 million) on Tuesday, Dubai Land Department said.The total realty deals recorded during the day amounted to $408 million, according to Dubai Land Department.
Mortgages included 47 villas and apartments worth AED109.29 million and 30 land plots valued at AED80.72 million.
Equities, oil prices slide on recession fears
Stock markets and oil prices slumped as investors grow fearful that more big interest rate hikes will tip economies into...Traders had hoped that bumper rate increases by the US Federal Reserve this year would begin to drag on the economy and slow runaway prices.
Chip manufacturers globally took a pounding from new US export controls.
Unemployment Insurance Scheme comes into force in UAE
The Ministry of Human Resources and Emiratization (MoHRE) of UAE announced that an 'Unemployment Insurance Scheme' for employees of the...The insured will be compensated with cash for a specific period of time if they lost their job until they find another employment
The compensation will be paid monthly, calculated at 60 percent of the employee’s subscription salary.
QNB posts 7% rise in profit
Its net profit for the first nine months of the year was $3bn.QNB has been subject to hyperinflationary accounting requirements since the second quarter of 2022 for its Turkey operations
The Doha-based lender’s operating income increased 24 percent year-on-year to $7.03 billion
US climate spending could spark tariff war, says Scholz
German Chancellor Olaf Scholz criticized US climate protection plans that would shield domestic companies from foreign competition, saying they could...European Union officials have in recent weeks spoken out against planned US tax credits for the domestic electric vehicle market.
South Korea has also voiced its displeasure, calling the new rules favoring American e-cars a "betrayal".
Saudi Arabia announces bidders for gypsum ore exploration
Riyadh, Saudi Arabia— Saudi National Gypsum Co. and El-Khayyat Gypsum are among the eight qualified bidders to compete for an...The site, with an area of 600,00 sq.m, is located south of the Nabat Center in Al Madinah Al Munawwarah region
Saudi Arabia is expecting its mineral wealth to exceed earlier estimates of $1.3 trillion as it triples spending on the exploration of metals over the next three years
MEmob+, GeoDB partner to launch a Digital Wallet, Blockchain Protocol
The investment reinforces both companies’ shared vision of democratizing data, changing how data is shared and monetized by the users...The investment reinforces both companies’ shared vision of democratizing data, changing how data is shared and monetized by the users and brands
The decentralized wallet will empower people to earn rewards for the data they share and gain control of the data they generate
Asian chipmakers plunge after US unveils China export controls
The announcement on Friday marked the latest volley in a long-running standoff between the two superpowers that has seen them...The US Department of Commerce said the measures include export restrictions on some chips used in supercomputing, and toughen requirements on the sale of semiconductor equipment
South Korean tech titan Samsung Electronics, a major semiconductor maker, dived around three percent in Seoul where DB Hitek was off four percent
