UAE announces US$2,722 penalty for late corporate tax registration
ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024...
Business
One year from FIFA World Cup, clock ticks ever louder for Qatar
Twelve months before the 21 November, 2022 kick-off, the Qatari capital Doha is dotted with roadworks and building sites that...
- Twelve months before the 21 November, 2022 kick-off, the Qatari capital Doha is dotted with roadworks and building sites that are causing chaos for its inhabitants
- With some Qatari infrastructure projects delayed by the pandemic, the clock is ticking more loudly than organisers might have liked
Economy
Joblessness in Egypt grows 7.5% to 2.2m in 3Q
The number of people out of work in Egypt grew 7.5 percent to 2.2 million in the third quarter of...
- According to the Central Agency for Public Mobilization and Statistics the size of the labor force increased 0.9 percent to 29.4 million from 29.1 million individuals
- The bulletin attributed the rise of unemployment and labor force to the influx of new graduates during the months of August and September into the labor market
Interview
‘GCC may avoid NMCs, Abraajs with robust norms’
The region’s financial regulators must be extra vigilant to avoid catastrophic debt crises, Khalid Abdulla-Janahi, chairman of Vision 3, UAE,...
- Strong corporate governance framework is an integral part of ensuring clean flow of money and the GCC region is yet to make some improvements, says Khalid Abdulla-Janahi
- The companies in the region should have independent board members and directors with fixed term role to ensure high level of corporate governance, the Vision 3 chief adds
Economy
Turkish lira sinks as central bank cuts interest rate
The Turkish lira sank further on Thursday as the central bank slashed interest rates for the third consecutive month following...
- The bank cut its policy rate from 16 to 15 percent despite rising inflation and a fast-depreciating currency
- The lira, the worst performing emerging market currency in 2021, sank to an all-time low of 10.98 against the dollar ahead of the announcement
Business
Dubai Airshow: UAE Armed Forces sign deals worth AED22 bn
The deals were announced by the Executive Director of the Military Organizing Committee of the Dubai Airshow 2021 Major General...
- The deals were announced by Major General Staff Pilot Ishaq Saleh Al Balushi, and Lt. Col. Pilot Sarah Hamad Al-Hajari, Dubai Airshow spokesperson
- AED5,239,207,000.00 in deals were signed on the first day, AED11,284,837,000.00 on the second day, and AED4,257,401,000.00 on the third day.
Economy
UAE, Russia sign MoU on hydrogen technology
The MoU was signed by Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, and Denis Manturov,...
- The collaboration will explore ways of supporting the production, storage and transportation of hydrogen fuel
- The UAE’s hydrogen production is now around 300,000 tons annually as a result of ADNOC’s downstream facilities.
Economy
Morocco leads the Arab world in economic growth
An unemployment rate of more than 11 percent and the crisis impact on entrepreneurs and startups major concerns in the...
- Saudi Arabia's economy will grow 2.8 percent, and the United Arab Emirates by 2.2 percent, Qatar by 1.9 percent, and Kuwait by 0.9 percent.
- Morocco received $3 billion from the IMF in 2020, which enhanced its liquidity and pushed multiple sectors of the local market.
Interview
High packages may help GCC in talent hunt
Global employment, which was severely affected by the pandemic, is beginning to rebound as economies reopen. The UAE, which was...
- There is a growing competition for the local talent also, necessitating re-evaluation of salary packages.
- Working from home is here to stay, and many candidates are increasingly asking about this flexibility.
Economy
Robots, big data as Gulf nations bet on AI
The annual growth rate of the Middle East AI market is about 20 to 34 percent, led by the UAE...
- The annual growth rate of the Middle East AI market is about 20 to 34 percent, led by the UAE and then Saudi Arabia
- PwC said in a report that more than 10 percent of the GDP of Saudi Arabia and the UAE will come from AI by 2030
Business
Dubai Free Port: A super vault for VIP travellers, HNWIs
The super vault presents a variety of top custody and security services. It features automatic robot-driven, safe-deposit boxes, medium and...
- Mohammed Bin Rashid Aerospace Hub commissioned Athena Security to develop the project on 17,000 square-metre plots adjacent to the VIP Terminal in Dubai South
- Athena partnered with Leading Swiss Premium Vault to lend its expertise in quality, security and compliance to the project.
Most Read
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
UAE announces US$2,722 penalty for late corporate tax registration
ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024...
Business
Company News
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Middle East firms pay fortune for employee burnout
A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are...
Economy
Dubai Transport Authority’s digital channels record 10% jump in 2022 revenues
Dubai, UAE-- Dubai's Roads and Transport Authority (RTA) has reported a 10 percent increase in revenues for 2022 to $953...
Business
EU, New Zealand ink deal to enhance trade by 30 percent in a decade
The European Union and New Zealand signed a free trade agreement which Brussels says can lift exchanges between the two...
Business
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Business
Dubai to expand EV charging points by 170 percent till 2025
DUBAI, UAE- Dubai Electricity and Water Authority (DEWA) aims to grow the city’s network of public charging stations by 170...
- Dubai Electricity and Water Authority aims to grow the city’s network of public charging stations by 170 percent in less than three years.
- The emirate’s Clean Energy Strategy 2050 and Net Zero Carbon Emissions Strategy 2050 seek to generate 100 percent of its power from clean energy sources by 2050.
Business
UAE says 79,000 Emiratis working in private sector
DUBAI, UAE - Around 79,000 UAE nationals are working in the private sector, the Ministry of Human Resources and Emiratization...
- These figures mark a 57 percent increase compared to the end of 2022 figures, where 50,228 UAE nationals were employed in the private sector.
- Nearly 17,000 private sector firms employ UAE citizens as of July 7, which was the last day for companies to achieve their semi-annual Emiratisation targets.
Business
Dubai’s RTA digital channels generate revenue of US$953m in 2022
DUBAI, UAE - Director-General and Chairman of the Board of Executive Directors of Dubai’s Roads and Transport Authority Mattar Al...
- RTA launched a feature that allows users to instantly access their vehicle registration cards for virtual displays upon request.
- In 2022 RTA recorded 814 million digital transactions up from 676 million in 2021, reflecting a robust growth rate of 20 percent.