|By Arabian Post Staff| With so many companies facing debt write-offs and bankruptcy, a provision in the UAE VAT tax law is likely to become a key focus in the days to come. And this provision relates to relief that will be available for debts written off by VAT registered businesses in certain circumstances. To what extent this will help companies in trouble or whether it will […]
|By Arabian Post Staff| Dubai’s DIFC Courts witnessed sustained growth in the first six months of 2017, with the English-language, common law judiciary continuing to help global businesses resolve their largest and most complex disputes while becoming the increasingly preferred forum for settling the smaller claims of corporations, SMEs and individuals. The workload of the main Court of First Instance (CFI), including arbitration-related cases and counter claims, […]
|By Arabian Post Staff| The UAE Federal Tax Authority (FTA) announced that it will open online registration for tax purposes for businesses in mid-September 2017. The announcement was made at a media briefing by the FTA to familiarise with various aspects of the FTA’s work. The briefing also covered the implications of the tax procedures for boosting the momentum of the UAE’s sustainable economic development. Khalid Ali […]
|By Arabian Post Staff| Teneo Holdings, the global CEO advisory firm, today announced that it has acquired Credo Business Consulting LLP, a leading management consulting firm with operations in London and Dubai. Credo is a highly-respected management consulting firm focused on corporate strategy, transaction services, commercial and operating model transformation and performance improvement. With an outstanding reputation for depth of analysis and insight, Credo has helped many of the world’s leading organizations […]
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|By Arabian Post Staff| Employment uncertainty and the rising cost of living continues to build deflationary pressures in the residential leasing market. As a result, residents are becoming increasingly cautious with their spending and gravitating towards affordable housing options, according to the latest Abu Dhabi MarketView by CBRE. As of Q2 2017, average rentals declined by nearly 11% year-on-year and 3% quarter-on-quarter. However, analysis of the market reflects […]
|By Arabian Post Staff| The DIFC Courts announced the passing away of Sir Anthony Colman after a short illness in hospital in England last week. He was appointed as a Judge of the DIFC Courts from 2008, serving as Deputy Chief Justice from June 2010 until his retirement in May 2013. From 2013 onwards, Sir Anthony continued as a Judge at the Courts, overseeing ongoing cases initiated before […]
|By Arabian Post Staff| Fitch Ratings has upgraded DP World’s Limited’s Long-Term Issuer Default Rating (IDR) to BBB+ from BBB and affirmed Short-Term IDR at F2. The rating outlook is stable. This follows on Fitch’s rating upgrade in August 2016 from BBB- to BBB and reflects DP World’s solid performance and stable cash flow generation. Fitch also notes the Group’s flexibility in its expansionary plan to maintain […]
|By Arabian Post Staff| Following commercialisation in the 1990s, today metal 3D printing has established itself as an attractive manufacturing solution for prototyping and beyond. Metal printer manufacturers and materials suppliers are poised to capitalise on this unmet demand, with the 3D printing metals market to be worth $12B in 2028. This rapid growth is analysed and implications evaluated in the latest market intelligence report from IDTechEx Research, 3D […]
|By Arabian Post Staff| UAE-based conglomerate Al Ghurair announced a partnership with AccorHotels to launch the upper-upscale Swissôtel and Swissôtel Living in the Al Ghurair Centre. With over 4,000 hotels, resorts and residences, as well as over 2,500 of private homes around the globe under the AccorHotels banner, this reflag marks Swissôtel’s first entry into the UAE market. Known for the famous Swiss hospitality, Swissôtel upholds industry-leading […]
|By Arabian Post Staff| SHUAA Capital, the UAE’s premier integrated financial services firm, announced it has entered into an agreement with Integrated Financial Group (IFG), towards the acquisition of Integrated Capital and Integrated Securities. The signing of the agreement follows the completion of the due-diligence process initiated in March. The strategic acquisition, which remains subject to regulatory approvals, of two of the UAE’s most active and successful financial […]
|By Arabian Post Staff| Starz Play, MENA region’s fast growing on-demand video streaming service has raised a total of US$125 million since inception, including new 2017 commitments from leading global industry investors Starz, a Lionsgate company, State Street Global Advisors (SSGA), in its capacity as an advisor and manager of private equity, and media and technology investment firms SEQ Capital Partners and Delta Partners. The new investment funds […]
|By Arabian Post Staff| The GSMA announced the appointment of Laxmi Akkaraju as Chief Strategy Officer. Ms. Akkaraju, who was most recently Senior Vice President, Global Delivery at EVRY, will join the GSMA effective 1 September and will report to GSMA Director General Mats Granryd. As Chief Strategy Officer, Ms. Akkaraju will work with the GSMA’s operator members in identifying opportunities that will advance the development of the […]
|By Arabian Post Staff| Al Jazeera Media Network has come forth with its own list of demands as Saudi Arabia, the United Arab Emirates, Bahrain and Egypt demand the closure of all its outlets including broadcast channels and websites. In response to the demands and reinforcing its independent voice, the network made a call for solidarity in the pursuit of press freedom. This call reinforces the importance of preserving the rights of people to have […]
|By Arabian Post Staff| Tourism Authority of Thailand (TAT) announced the reintroduction of its Women’s Journey Thailand campaign offering a range of activities, special deals, discounts and privileges in Thailand during the month of August. According to the latest statistics of international arrivals to the kingdom, the growth of female travellers has risen significantly over the past few years. According to Mrs. Srisuda Wanapinyosak, TAT Deputy Governor […]
|By Arabian Post Staff| Senaat, the industrial investment holding company managing the assets of the Abu Dhabi government, announced marginally lower revenue and profits for 2016. The Group claimed a solid performance by operating companies, reflecting the resilience of its business model. Revenues of AED 13.4 billion (2015: AED 14.0 billion) were marginally lower compared to the previous year and total EBITDA also declined slightly to AED 1.8 […]
|By Arabian Post Staff| UAE’s National Bonds Corporation announced the results of its 2016 Savings Index for select GCC countries based on a survey conducted across Saudi Arabia, Bahrain, Kuwait and Oman. The results showed that the UAE recorded the highest percentage of regular savers – 37 percent – compared to 25 percent in Saudi Arabia and 27 percent in the rest of the surveyed GCC countries […]
|By Arabian Post Staff| Chinese operators are on track to launch commercial 5G networks by 2020 and are expected to establish China as the world’s largest 5G market by 2025, according to a new study by GSMA Intelligence and the China Academy of Information and Communications Technology (CAICT). The new study ‘5G in China: Outlook and Regional Comparisons’, which was published today at GSMA Mobile World Congress Shanghai, […]
|By Arabian Post Staff| Gold plunged after trading volume hit 1.8 million ounces in just one minute and gold traders were shaken by the plunge, Bloomberg reported. Gold traders shaken awake by Monday’s rapid price plunge said the move probably won’t mean an end to the sleepy pace that’s characterized the market in recent months. Bullion sank at 9 a.m. in London on Monday after a huge spike […]
|By Arabian Post Staff| Cancer tumours manipulate a natural cell process to promote their survival suggesting that controlling this mechanism could stop progression of the disease, according to new research by the Universities of Birmingham and Oxford. Non-sense mediated decay (NMD) is a natural physiological process that provides cells with the ability to detect DNA errors called nonsense mutations. It also enables these cells to eliminate the mutated […]
|By Arabian Post Staff| Dubai Government is developing a new project development company that will manage projects by Dubai Holding and Meraas Holding, according to a media statement issued on Monday (May 29, 2017). The move is a reflection of the economic reality marked by lower oil price and lower growth outlook that is encouraging governments to consolidate their state-owned businesses to cut costs by creating synergies. It […]
|By Arabian Post Staff| Consumer confidence in the UAE remained uncertain in 2016 resulting in the Dubai retail market experiencing further softening in Q1 2017, according to a latest report by Knight Frank. “Well-established malls with higher footfall continue to maintain healthy occupancy rates; however the delivery of additional retail supply is expected to put pressure on overall occupancy rates. UAE shopping malls are also expected to […]
|By Arabian Post Staff|The London High Court has upheld the injunction granted to ICICI Bank UK against leading diamond merchant family of Mehtas, considered legends in the diamond trading business and pioneers in Indian industry’s inroads to Antwerp. This means that the well-known Mehta family of Belgium lost their bid in London’s High Court to unfreeze certain of their family members’ assets, as they continue to be […]
|By Arabian Post Staff| Xanadu Real Estate Development, a Dubai-based property developer, announced the delivery of nearly 200 luxury villas and townhouses with a development value exceeding Dh750 million, part of the Dh8 billion worth of projects it helped deliver with its partners over the last six years. These include 130 Townhouses at Jumeirah Village Circle, worth Dh300 million and 68 luxury villas at Jumeirah Golf Estates, […]
|By Arabian Post Staff| Abu Dhabi Fund for Development (ADFD) dispensed AED3.9 billion in concessionary loans to support four projects and AED1.7 billion in government grants to finance 13 projects last year. Since inception in 1971 till end-2016, ADFD’s total development funding and investment portfolio registered AED80 billion, with the number of beneficiary countries reaching 83. Of this, concessionary loans totalled AED35 billion, while UAE government grants […]
