News related to UAE News

Xpress Money launches cash back scheme

Xpress Money, a leading global money transfer brand, has launched its Xpress Money Rewards Program, which provides customers a guaranteed cash back, each time they transact with Xpress Money. Customers who enrol for the program get an instant advantage of Dh5 cashback on their very first transaction and will continue to get Dh2 cashback for all subsequent transactions. Customers can also earn Dh1 on each transaction done […]

August 21

How UAE residents plan to curb fuel consumption following price hike revealed

DUBAI // Drivers are sharing cars, using public transport and even moving house in response to this month’s increase in petrol prices, a survey suggests. Nearly one in five would consider car pooling or using school buses, and nearly a quarter would use public transport more often. One in five intend to reduce their commute by moving to a home closer to work or to public transport […]

EY acquires Seren to meet demand in Mena

EY, a leader in assurance, tax, transaction and advisory services, has acquired Seren, an international digital consultancy based in the UK with a significant footprint in the Middle East and North Africa (Mena) region. Seren has been working closely with governments, banks and media organisations in the Mena region to drive digital business transformation through a customer-centred approach to design, said a statement. Gerard Gallagher, Mena advisory […]

UAE 'must boost ICT use for economic growthâ€™

The UAE, which leads the Arab world for network readiness, must take full advantage of the potential offered by ICT solutions to drive social and economic transformation, according to experts. Considerable challenge is facing the UAE as it seeks to develop the infrastructure, institutions, and skills needed to reap the full benefits of ICTs, added senior executives from Cisco, a global leader in IT. Out of 143 […]

VAT in the GCC â€“ Old news or new chapter?

The recent action taken by the UAE to eliminate fuel subsidies has rekindled the debate on tax reform in the GCC, with the focus on domestic implementation of a broad-based Value Added Tax (VAT) on goods and services. While countries are facing an increasing amount of pressure on their national budgets, every GCC government understands the urgent need for fiscal-sustainability, added the report “VAT in the GCC […]

Rising energy use in UAE calls for sustainable strategy

The UAE’s gross domestic electricity consumption has more than doubled over the past 10 years, and is expected to grow even more rapidly over the next five years as the country undergoes substantial population and economic growth, according to a recent study. The study by management consultancy Strategy&, formerly Booz & Company, revealed that energy usage in the UAE has grown at an annual average of four […]

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VAT in the GCC: old news or new chapter?

UAE. The recent action taken by the UAE to eliminate fuel subsidies with effect from 1 August 2015 ignited the debate on tax reform in the Gulf Cooperation Council (GCC) countries. Whilst these countries are facing an increasing amount of pressure on their national budgets, every GCC government understands the urgent need for fiscal-sustainability in the long-term. This urgency, according to Deloitte’s latest report “VAT in the […]

August 19

Dubai real estate : dollars and sense

UAE. After a decade of finding bargains in real estate markets against the backdrop of a secular weak US Dollar, as well as a regime of declining interest rates, foreign investors in the last year have faced the prospect of sharply higher housing prices in Dubai, as their nations’ currencies have fallen against the US dollar. In times of a weak dollar market, real estate prices have […]

August 19

SpeedCast wins communications deal from Gulf Marine

SpeedCast International, a leading satellite telecommunications service provider, has won a multi-year communications contract from Gulf Marine Services (GMS). The new dual-beam Ku-band satellite service will provide high-performance broadband connectivity for client office applications and voice services across nine GMS barges, said a statement. GMS is one of the largest providers of self-propelled, self-elevating accommodation jack-up barges in the world, it said. The vessels work in offshore […]

August 18

Saudi oil strategy: brilliant or suicide?

INTERNATIONAL. In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. In October, Saudi sources first prepared the market with statements that the country would be comfortable with oil prices as low as $80 per barrel for “a year […]

August 17

Emirati students reach for the stars

ABU DHABI // For Ahlam Al Qasim and Fatema Al Khouri the sky isn’t the limit – they have big plans to go farther. The Emiratis have returned from a two-week internship with the Italian Space Agency (ISA) and now hope to forge a career in the industry and play a part in the UAE’s Mars mission. “I’ve been interested in space science ever since I was […]

August 14

Sheikh Mohammed bin Rashid: fallen soldiers ‘will be forever remembered for their heroism’

The three Emirati soldiers who were killed in Yemen on Saturday will forever be remembered for their heroic actions, Sheikh Mohammed bin Rashid, the Vice President and Ruler of Dubai, said. “They have written glory and heroism with their blood for the sake of peace and backing trodden people,” said Sheikh Mohammed during visits to the soldier’s families. “Allah will bless our martyrs whose memories and sacrifices […]

August 10

Recent case highlights risks of using social media in the UAE

UAE. Media outlets in the UAE and elsewhere have picked up on a variety of recent stories regarding the use of social media in the UAE. These stories include one about an Australian expat being arrested, jailed and deported after posting a picture of a car taking up two disabled parking spots. A similar story from earlier in the summer related to an appellate decision to overturn […]

August 09

Payfort launches flexible payment plan

Payfort, a leading online payment service provider, has launched its installments service in the United Arab Emirates, Saudi Arabia and Egypt. The new service that makes it easy for ecommerce merchants to offer pay-via-installment options to customers and gives consumers greater purchasing power. “Many consumers show a preference for purchasing-via-installments, but methods of processing monthly installments in common usage in the region have proved cumbersome for consumers,” […]

August 03

Sky News Arabia starts radio broadcast on 90.3FM

ABU DHABI // Sky News Arabia has started broadcasting its radio service on 90.3 FM in the UAE. The frequency was previously used by the BBC World Service, which stopped broadcasting on June 30. “Our audience will receive comprehensive news bulletins 24/7 that cover a gamut of Arab and international news developments in real time. This coverage will include news focused on politics, economy, sports, as well […]

August 02

Featured

Subsidy reform helps Abu Dhabi bonds

The yield on bonds of Abu Dhabi has decreased four basis points since 22 July, the day the UAE announced the move to remove fuel subsidies, Bloomberg reported. While the average yield on developing-country debt has increased 13 basis points since the 22 July announcement of fuel-price deregulation, the yield on bonds of Abu Dhabi has declined four basis points. The yield on bonds of the neighboring […]

July 30

UAE Space Agency welcomes Bahraini counterparts

ABU DHABI // Representatives from the Bahraini National Space Science Agency visited the UAE Space Agency’s headquarters in Abu Dhabi. According to state news agency Wam, Dr Khalifa Al Rumaithi, the UAE Space Agency chairman, and Dr Mohammed Nasser Al Ahbabi, director general, along with other senior officials welcomed the Bahrain delegation led by chairman Dr Mohammed Al Amer. The two sides discussed cooperation and ways of […]

July 26

SMEs champion equal employment opportunities in the UAE, reveals MEED study

UAE. Women are just as likely as men to find employment in small and medium-sized businesses in the UAE, according to the latest research by business intelligence company MEED. Of the more than top 50 SMEs in the Emirates which participated in the study, 50 per cent said they employ an equal number of women and men in their organisations. About 40 per cent even reported having […]

July 25

Economy

UAE deregulates fuel prices

The United Arab Emirates said it would let domestic fuel prices move more freely in a politically sensitive reform that could save the government billions of dollars and begin reducing the wealthy country’s love of gas-guzzling cars with big engines. Gasoline and diesel will be deregulated from Aug. 1 and a new pricing policy linked to global levels will be introduced, state news agency WAM quoted the […]

July 23

Yemen’s president praises UAE’s support during meeting with ambassador

Yemeni president Abdrabu Mansur Hadi praised the stance of the UAE and its support for his country during a meeting on Monday with the UAE ambassador. Salem Al Ghafli, the UAE Ambassador to Yemen, conveyed the greetings of President Sheikh Khalifa and Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, for Eid Al Fitr as well as the liberation of Aden from the Houthis and […]

July 20

UAE Exchange in community development partnership

UAE Exchange in community development partnership DUBAI, 3 days ago UAE Exchange, a leading remittance, foreign exchange and payment solutions brand, has extended its philanthropic arm by partnering with Community Development Authority of Dubai to benefit various local community groups, educational institutions, charitable organisations, labour camps and government departments. Varghese Mathew, country head – UAE, said: “We are an organisation that is committed to the betterment of […]

July 20

The question of nuclear waste in the UAE

ABU DHABI // It has gone so fast – and so far, so good. It’s already the third anniversary of work starting on the UAE’s first nuclear power plant at Barakah, near the border with Saudi Arabia. And it is still on budget and set to go live in late 2017, ultimately providing a quarter of the Emirates’ energy needs. But becoming the first new member to […]

July 18