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
Qatar’s customs and tax departments link up e-services to ‘facilitate’ business
Doha, Qatar--The General Authority of Customs and the General Tax Authority have announced the launch of the interconnection between their...Business Economy
Lira plunges as Turkey cuts interest rate again
The Turkish lira on Thursday hit fresh lows after the central bank fired the latest salvo in President Recep Tayyip...The reduction of the main rate to 14 from 15 percent comes in the face of an annual inflation rate that has surged past 20 percent and is expected to climb even higher.
A dollar could buy three liras in 2016 and 7.43 liras on January 1. It was worth 15.50 liras on Thursday after opening the week at around the 13.80 mark.
Sheikh Mohammed launches largest tourism campaign ‘World’s Coolest Winter’
UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum launched the second season of the World’s Coolest...The campaign highlights the diversity of the UAE’s tourism and recreational attractions.
With an occupancy rate of 64 percent, the UAE outperformed the top 10 tourist destinations in the world.
Nearly 14,000 Bahraini nationals invested in UAE companies in 2020
A total of 13, 978 Bahraini nationals have invested in UAE public shareholding companies in 2020 and 331 licenses for...Trade between the UAE and Bahrain in 2020 was valued at AED20.1 billion and more Bahraini nationals were entering the Emirates real estate market.
In 2020, the value of real estate deals signed by Bahraini citizens in the UAE reached AED228 million.
Jordan to engage private sector in enacting investment laws
Jordan’s Investment Minister, Khairy Amro, said the investment law, which the government is currently working on, will cope with the...Jordan’s Investment Minister, Khairy Amro, said the investment law, which the government is currently working on, will cope with the most developed international laws in this field
To facilitate transactions, Amro said, the ministry seeks to be the core reference for investment and the sole authority to follow up on investor issues
Saudi Arabia among five countries bidding for World Expo 2030
King Mohammad bin Salman bin Abdulaziz recently announced that the kingdom would bid for the expo.King Mohammad bin Salman bin Abdulaziz recently announced that the kingdom would bid for the expo
The other four countries competing to hold the event are South Korea; Italy; Ukraine and Russia
Iraq economy outlook bleak after droughts and war, says study
The United Nations says about one-third of Iraq's population lives in poverty, despite the country's oil wealth. The effects of...Experts have warned that record low rainfall is threatening social and economic disaster in Iraq
The situation in the war-scarred country is said to have been compounded by climate change
World Bank unveils $93 billion boost for poorest nations
The package includes $23.5 billion of contributions from 48 high- and middle-income countries as well as financing raised in the...The World Bank said the funds will help countries better prepare for future crises, including pandemics, financial shocks and natural disasters
The funds will support countries globally, resources are increasingly going to Africa, which will receive about 70 percent of the funding
ADQ establishes office in Cairo to boost its investment in Egypt
Abu Dhabi Development Holding Company (ADQ) has established a new office in Egypt to build on its commitment to investing...The opening of ADQ’s new office complements the $20 billion strategic investment platform launched in 2019 between ADQ and TSFE.
The platform aims to help advance Egypt’s economic development through joint strategic investment projects, specialized funds and investment tools.
Syria approves $5bn budget for 2022 as economic crisis hits finances
Syrian lawmakers have approved a draft budget for 2022 of $5.3 billion, down from $6.8 billion this year, as a...A decade of war, Western sanctions and the coronavirus pandemic have devastated the Syrian economy, pushing most of the population into poverty.
Government spending has been cut by more than 40 percent over the past two years, with cuts threatening a critical social support program.
UAE taps Harvard lab to help build its economy
The new partnership between Harvard university’s Growth lab and the UAE’s Ministry of Economy is in line with the government’s...The UAE signed agreement with Harvard’s Growth Lab, specialized in theoretical and empirical research on determinants of growth
The two-year program under the agreement will see academic experts conduct evidence-based economic analyses and research
